Frequently Asked Questions

Simply put, PFMs don’t work and do not create revenue. They have low adoption and are an old and outdated way for people to analyze their finances. On the other hand, our platform is more of a customer experience platform that operates more like the apps in the app stores that your customers are used to. Its sole focus is to be extremely engaging, which is the key to driving the actual top-line revenue and bottom-line increases in customer profitability we are seeing with our current customers.

Our white-label platform allows your digital banking channel to increase deposits, generate revenue, and increase customer profitability, all within one embedded solution in your current banking application.

We accomplish this by having a gamified user experience that entices your customers to spend more time in your app and share more information about their whole financial picture. While they are doing this, our technology automatically starts recommending actions they need to be taking with their finances- like opening a new savings account, for instance. This, more often than not, results in cross-sells and upsells of relationships they have with you or convinces them to move from competitors.

Users see our white-labeled platform as a button on the home screen of your application. Once they click our button, our home screen comes up in the application, and they are immediately greeted with recommendations to do different things with their money based on the transactional data in their current accounts at your institution. From there, they are able to follow recommendations, earn points/badges/levels, see their financial vitals in a fun and interactive way, and progress through their financial journey as efficiently as possible until they reach their next one.

Our recommendations suggest different actions your customers need to take based on a combination of their financial journey, their current financial health, and the transactional data of the accounts they have with you. They can be actions from “send $40 to your Chase account” to “open a new savings account” and everything in between. It is all personalized to the user who is experiencing the platform and what they are going through at that exact moment.

The accounts that are opened live with the FI.

Yes! Immediately capture your customer's internal and external accounts so they have the most personalized mobile banking experience possible. Customers click the "add account" option to populate their accounts in their Financial Coach quickly.

Yes!

Users earn points, badges, and unlock levels as they follow their recommendations and get their financial vitals in a good place.

No, our platform point system isn’t built for point spending but rather point accumulation towards the next financial level the user is trying to attain.

We embed our platform directly at your current digital banking provider and work primarily in the mobile environment. Your current mobile banking channel is an intermediary between our platform and your core provider, accesses account data and transaction data, and can even open accounts at the core through APIs.

Yes, all of the accounts we open on our part of your digital banking platform are opened at the core.

Our price is based on asset size and active digital users.

Yes! We have the ability to embed our platform within any digital banking provider’s application. Some are easier than others, but regardless of who you work with, we can help!

Finotta is currently SOC 2 Type I Certified and is in the process of becoming SOC 2 Type II Certified. Service Organization Control (SOC) is an objective, third-party technical audit and certification of the data security standards of technology-based organizations that store customer data in the cloud. It measures the effectiveness and security of the company's data management practices and is the premier compliance standard in the industry.

We’ve been operating since 2018.