Canada-based Cornerstone Credit Union has successfully integrated its personal financial management (PFM) tools with Central 1’s MemberDirect Services online and mobile banking platform.
The integration allows Cornerstone to offer its customers a way to track their spending and expenses, set and monitor budgets, and link their accounts held at other financial institutions across North America.
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All these tasks can be carried out by customers without leaving their online banking sessions or without opening a separate web-browser.
Allowing customers to manage their financial activity at one place allows financial institutions to not only attract new customers, but also deepen their existing relationship with customers.
The integration also enabled Central 1 to provide integrated PFM capabilities to its credit union customers, in partnership with Yodlee.
Some of the PFM capabilities include categorising transactions, spending analyses, managing budgets and linking accounts.
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