The behavioral banking solutions provider, exagens, has announced its fourth consecutive multi-year agreement with Desjardins, the largest credit union group in North America with assets of more than $407 billion. This announcement reaffirms the strong relationship that extends back to 2015 and confirms the ongoing value they have provided to both Desjardins and their members over the past eight years.
Exagens’ History with Desjardins
Exagens has a longstanding history with Desjardins, having partnered with the credit union group since 2015. The recent renewal of the multi-year agreement strengthens the bond that has been built over time. This partnership has enabled Desjardins to bring the benefits of behavioral banking to its members.
Benefits of Behavioral Banking
Behavioral banking involves leveraging artificial intelligence and machine learning to gain insights into a customer’s financial behavior. By analyzing patterns in their transactions, behavior, and preferences, banks can provide personalized insights and contextual advice to their customers. This approach seeks to better understand customers’ financial goals and help them manage their finances more effectively.
Desjardins has leveraged Exagens’ behavioral banking technology to proactively engage members throughout their entire digital banking experience. The Assistant AccèsD solution has enabled Desjardins to provide its members with contextual and personalized insights into their financial lives. By analyzing their spending habits, the solution offers personalized recommendations to help members save money and achieve their financial goals.
Results of the partnership
Since embarking on its partnership with Exagens, Desjardins has seen a 3.4x increase in savings per member per year, increased digital engagement, and reduced operational costs. This is a testament to the effectiveness of behavioral banking in helping customers achieve their financial goals.
Industry recognition
Exagens and its solutions have earned recognition and received industry awards from EFMA, Celero, and OCTAS. These awards are a testament to the effectiveness of Exagens’ behavioral banking solutions and their ability to help financial institutions provide personalized, value-added services to their customers.
Gartner’s Cool Vendor Award
In 2019, Exagens was named a Cool Vendor in Banking by Gartner. This award recognizes companies that are driving innovation in the banking sector and helping financial institutions transform the way they engage with their customers. The award is a testament to the effectiveness of Exagens’ solutions and their ability to generate value for their clients.
Conclusion
In conclusion, the partnership between Exagens and Desjardins has been fruitful and productive. The benefits of behavioral banking have been evident in the increased savings and digital engagement of Desjardins’ members, and the reduced operational costs have improved the institution’s bottom line. As the banking sector continues to evolve, behavioral banking will play an increasingly important role in helping institutions differentiate themselves and provide value-added services to their customers.
