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FIs can now take advantage of Financial Health KLIs to identify and assist their account holders facing a wide variety of financial difficulties.

Segmint’s Key Financial Health Lifestyle Indicators

Whether an account holder proactively seeks help or not, financial institutions are the experts and need to initiate outreach across all channels with tools, educational programs, and guidance.

Whether an account holder proactively seeks help or not, financial institutions are the experts and need to initiate outreach across all channels with tools, educational programs, and advice.

Cuyahoga Falls, OH, October 25, 2021 (GLOBE NEWSWIRE) – 73% of Americans classify their finances like the number one stress in their life. Segmint®, the global leader in transaction cleaning and analytics for financial institutions (FIs), has announced the launch of its Financial Health Key Lifestyle Indicators® (KLI®) to close the significant gap in financial health financial health and overall well-being that has plagued the financial sector. The problem is twofold: a lack of financial education tools and programs with the right products and services to empower account holders suffering from financial stress; and the inability to proactively identify those who are or are about to experience financial difficulty.

Financial institutions have traditionally not done enough to close the gap, and account holders today expect their primary FI to anticipate and solve all of their financial needs. Whether an account holder proactively seeks help or not, financial institutions are the experts and need to initiate outreach across all channels with tools, educational programs, and guidance.

Segmint’s Financial Health Metrics KLIs can guide strategic decisions when planning campaigns and innovative products to improve the financial well-being of your account holders. Using information from recurring financial expenditure models and credit transactions, especially from these KLIs, can put an FI in a differentiated position to assess account holder financial stressors and trigger engagement. to provide support and training.

“Financial Health KLIs will be a game changer for our credit union. The ability to determine in real time when one of our members may be experiencing stress or financial difficulty allows us to be proactive in our communication with them. We have a very strong financial coaching program that offers individual financial advice to members, these KLIs allow us to identify who will need this service and when. This not only helps our members, but financial coaching generates new product leads for our credit union, a real win-win situation, ”said Jon Maroni, Marketing Director at Canopy Credit Union.

Recently, The Financial Brand called on FIs and Fintechs to “blow it up” when it comes to making real progress in affecting the financial health of their account holders. Ironically, Segmint launched their new set of KLIs to target this problem the same day their article was published.

“Together we can make a positive impact and change people’s financial stories for the better,” urges Segmint co-founder Rob Heiser. “Financial institutions can do more. So far, it has been a constant struggle; before Segmint, the data was notoriously messy and difficult to understand. Segmint is here to help understand all unstructured payment and transaction data and provide information that we can prove strengthens the relationship between an FI and its account holders. Every institution should strive to best serve its clients and members by leveraging this valuable data, as it greatly benefits both the consumer and the banker.

Financial institutions must make overall financial health and well-being a fundamental tenet within their ecosystem, where results are limitless and have a direct positive impact on account holder relationships and financial stability, income , long-term brand loyalty and relevance.

Learn more about the implementation of Segmint’s key lifestyle indicators of financial well-being on the Use case page of their website.

About Segmint, Inc.

Segmint enables financial institutions and financial technology providers to easily understand and operate data, interact with customers, and measure results. Derived from billions of transactions, Segmint delivers the fastest and most accurate customer information through advanced tagging, categorization and contextualization of data. Our knowledge enables all functions of an organization to develop informed strategies, including competitive analysis, risk, marketing, customer experience and product innovation. For more information visit www.segmint.com.

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CONTACT: Marla Pieton Segmint, Inc. 7246996098 [email protected]


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