Best Practices
Follow these best practices to maximize your results from Financial Insights.
Engage Users
Users engage with insights that are timely and relevant to their situation. We offer three widgets that, when used together, increase the visibility of insights:
- Insights Widget: A vertical feed of the user's insights.
- Mini Widget: A small carousel of up to 5 insights, designed to be embedded as an entry point to the full Insights Widget.
- Micro Widget: A smaller carousel of up to 5 insights, designed to be embedded as an entry point to the full Insights Widget.
Consider your current banking experience when implementing Financial Insights. If you'd like to increase user engagement with Insights, follow these steps:
- Create a dedicated page for the Financial Insights Widget.
- Embed multiple instances of clearly labeled Mini or Micro Widgets for Financial Insights on your main landing page or in high-traffic areas. Avoid low-traffic areas or nested pages. These smaller widgets serve as entry points to the full widget.
- Set up the embedded Mini or Micro Widget(s) to link to the full Financial Insights Widget. When users select View More, they'll be taken to the full Insights Widget with the selected insight at the top.
This gives your users a brief glimpse into their financial insights the moment they log on, prompting them to take a deeper dive into the full Financial Insights experience.
Create Your Experience
Use a combination of custom-made and prebuilt insights to create a comprehensive experience for your users.
Custom Insights
You can create custom insights to support your unique business goals, such as limited-time offers or campaigns. For example, you could run a 3-month Cash Back campaign where you flag all gas purchases and offer a reward (using a custom insight) if users pay with your bank credit card. You can turn off the insight once the campaign ends.
Recommended Prebuilt Insights
We also recommend choosing insights from our Insights Library that will be most helpful to your users. These are designed to be enabled indefinitely. We recommend starting with these and adding others as desired.
| Insight Name | Type | Description |
|---|---|---|
| Bill Amount Not Standard | Spend | Notifies users of a bill payment that's higher or lower than usual. |
| Category Budget | Spend | Notifies users about their budget status. |
| Category Spending | Spend | Prompts users to create a spending limit when spending in a category is growing significantly. |
| Celebrate Credit Card Payoff | Borrow | Celebrates when users pay off a credit card balance. |
| Charge Dispute Refund | Borrow | Notifies users that they've received a credit related to a charge dispute. |
| Cost of Living to Income | Save | Notifies users that MX has identified that their spending in one of five category types is high compared to their income. |
| Credit Card Close to Limit | Borrow | Notifies users that they've reached a specified percentage of their credit card spending limit. |
| Credit Utilization | Borrow | Notifies users that their credit utilization is high. |
| Custom Insights | N/A | Automatically enabled; displays campaigns from Messaging. |
| Debt Payment Reminder | Borrow | Notifies users of an upcoming payment for a liability account. |
| Designate Emergency Savings Account | Save | Allows users to choose, change, or open their emergency savings account. |
| Discovered Account | Spend | Identifies discovered accounts from the user’s held account data and suggests they connect the discovered account. This insight is available only if you're using our PFM or Mobile product. |
| Duplicate Payment | Spend | Alerts users when a possible duplicate payment is detected. |
| Emergency Savings Milestone Reached | Save | Congratulates users as they pass milestones with their emergency savings balance. |
| Fee Detected | Spend | Helps users identify fees charged to their account. |
| Introduce Insights | Plan | Introduces new users to insights. |
| Large Transaction | Spend | Notifies the user of larger-than-normal transactions. |
| Low Account Balance | Spend | Notifies users when an account balance falls under a certain threshold. |
| Merchant Credit Received | Spend | Informs users that they've received a refund from a merchant, and displays the refund amount. |
| Microdeposits | Save | Alerts users when microdeposits have reached their account. |
| Missing Interest Rate | Borrow | Asks users to share their interest rate. |
| Monthly Credit Card Interest Summary | Borrow | Shows users how much they're spending in interest on their credit cards over the last 90 days. |
| Monthly Debt to Income Comparison | Borrow | Provides a comparison of debt-to-income spend for the previous four months. |
| Monthly Deposit Summary | Save | Tracks all credits coming into a user's accounts and provides a breakdown of regular versus other income. |
| Monthly Emergency Fund Review | Save | Shows users a monthly summary of their emergency goal progress. |
| Monthly Emergency Savings Reminder | Save | Reminds users to move money into their emergency savings account. |
| Monthly Obligations Status | Spend | Informs users whether they're on or off track to pay off their monthly obligations. |
| Monthly Spend Comparison | Spend | Provides users with a summary of total expenses in the previous month, together with a comparison of those total expenses against the average for prior months. |
| Monthly Spend to Income Comparison | Save | Shows users their spend-to-income comparison for the last four months. |
| Monthly Subscription Aggregate | Spend | Identifies all subscriptions paid by users in the prior month. |
| Monthly Top Merchant Spending | Spend | Shows users what merchants they spent the most non-essential money on in the previous month. |
| New Merchant | Spend | Informs users when they have new transactions with a merchant that they haven't shopped with for at least a year. |
| Payday Cash Left Over Status | Save | Informs users if they're on or off track to have money left over when their next paycheck is received. |
| Peer-to-Peer Categorization | Spend | Identifies all transactions which are person to person within the last 30 days. |
| Replenish Savings | Save | Prompts users to replenish their savings account one week after they've made a withdrawal from the account. |
| Save an Extra $100 | Save | Informs users whether their balance on payday will be enough to both save $100 and have an extra $100 in the account. |
| Save Enough to Live On | Save | Encourages users to have emergency savings beyond an initial $1000. |
| Savings Account Deposit | Save | Congratulates users when they save money and lets them know that a little savings can make a big difference. |
| Savings Opportunity | Save | Tests users' projected cash position on a monthly basis and notifies the user when extra cash may be available for savings. |
| Set Up Direct Deposit | Save | Tells users that we've detected a held account that doesn't have a direct deposit coming in and prompts them to set it up. |
| Subscription Detected | Spend | Notifies users of a subscription in one of their accounts that hasn't been identified before. |
| Subscription Price Increase | Spend | Notifies users that a subscription price has increased. |
| Switch Direct Deposit | Save | Tells users that we've detected a direct deposit that doesn't route to their held account and prompts them to switch the deposit to the held account. |
| Transparent Overdraft | Spend | Warns users of a possible overdraft projected within the next seven days. |
| Uncategorized Transactions | Spend | Identifies all transactions which have been assigned Uncategorized as the transaction category within the last 30 days. |
| Unexpected Subscription Payment | Spend | Notifies users when a transaction is created that contradicts the user feedback on an associated scheduled payment. |
| Unified Deposit | Save | Notifies users of deposits that fall into a particular category. |
| Upcoming Bill | Spend | Alerts users that in three days they have a bill payment due that's not a credit card and isn't a subscription. |
| Upcoming Subscription | Spend | Shows users their upcoming subscription three days before payment occurs. |
| User Feedback | Plan | Lets users provide feedback on their insights. |
| Weekend Spending Summary | Spend | Provides users with a summary of total non-essential expenses from the previous weekend, grouped by category with total amount spent. |
| Weekly New Merchants | Spend | Notifies users when one or more new merchants are identified that they hadn't interacted with during the previous week. |
| American/Canadian Federal Bank Holidays | Plan | Informs users about upcoming federal bank holidays. Choose US or CA. |
| American/Canadian Upcoming Tax Deadline Alert | Plan | Notifies users about important upcoming tax deadlines. Choose US or CA. |