MX Catalyst
Team Guide
Using data to drive better, more personalized customer experiences is new for so many within our industry. Learn how Catalyst, MX’s professional services team can assist you for data analysis, consulting, and actionable recommendations to realize measurable ROI.
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MX Catalyst Team:
Table of contents
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Ready to grow?
Section 1
5ish minutes
By the numbers
Section 2
Meet the team
Section 3
What to expect
Section 6
10ish minutes
Products and Services
Section 5
Solutions
Section 4
Product info, case studies, and more
Section 8
2ish minutes
Quotes & impact
Section 7
or
Do more with your data
Now that you have enhanced data, what do you do with it? Whether you’re already relying on MX technology as a client, are in the process of evaluating, or deploying MX solutions. Catalyst will help you see the value in MX tools and discover, strategize, and execute on your various business goals more effectively by using your MX enhanced data.
Intro
More insights
The MX Catalyst difference
Bottom line
The distance between data and execution is more significant than you might expect. We shorten the distance, so you reach your growth objectives faster.
Ready to grow
Cleaning your data is the easy part. What you do with it is what makes the difference. Data has the power to uncover revenue opportunities, help you understand your customers better, and more. That’s where Catalyst comes in. We will meet you where you are and enable you to reach your goals. With decades of financial service experience, our team will provide you with the resources you need to pave a clear path to success.
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2ish mins
Sectionn 2
5ish min
5ish mins
Products and services
9ish mins
7ish mins
Working with Catalyst
Learn more
With over 170 years of executive and strategic leadership, specifically in data, banking, operations and program management, the MX Catalyst team will bring a depth of knowledge and perspective to your engagement that is uniquely designed to empower you to succeed. Take a look at some results that a few of our clients were able to achieve through working with our Catalyst team.
MX Catalyst client results
Partnering with MX Catalyst will accelerate your momentum, while uncovering new areas for growth and improvement; by using proven methodologies and data-driven insights.
Client 1
in loan origination, 38% increase in ad conversions, and 8x ROI on ad spend from using MX Catalyst data-driven affinities to personalize a loan product marketing campaign
$1,000,000
Client 2
in reduced costs after working with MX Catalyst to build a loan tool that made pricing and risk analysis faster, while eliminating the need for multiple platforms
$1,500,000
Client 3
$2,000,000 in cost reduction and cost avoidance over three years after working with MX Catalyst to realign their retail deposit process to follow digital best practices
Take a look at some results that a few of our clients were able to achieve through working with our Catalyst team
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Our mission
We bring together brilliant thought leaders; whose mission is to empower, guide, and inspire organizations through unlocking the unparalleled power of their data. We provide our partners the insights and innovative solutions to thrive and lead their people and their communities to greater financial strength.
Our background
We are more than a service provider. Our mission is to empower, guide, and inspire you to bridge the gap between your data and execution.
Even more insights
Areas of expertise
MX Catalyst overview video
Banking Operations Banking Transformation Ideal State State Roadmap Business/Middle Market Banking Business Unit Data Utilization Capital Markets Customer Insights, Affinities, Journey Mapping, and Personas Data Analytics Data Management Platform Analysis and Optimization
Deposit and Growth Strategy Digital Transformation Finance Financial Wellness Modeling and Strategy Marketing, Adoption, and Branding Support Organizational Cultural Alignment Product Development Project Management Business Analysis Risk Management Retail Banking Leadership
Small Business Lending Staffing Training and Resource Augmentation
So yeah, a lot.
Our experience
The MX Catalyst team
We get it. Nearly the entire MX Catalyst team comes from a background of working in the financial services industry. We’ve known the frustration of having information, yet not being able to take action on it in a meaningful way. Our passion is driven by our experience in witnessing the unparalleled power of data to improve the customer experience, reduce risk, and increase revenue.
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Your goals, our custom solutions and services
If you can dream it, we can build it. We will partner with you to develop a unique solution to help you achieve your business objectives. Check out some of the common challenges and the solution frameworks we offer.
Engagements as unique as your goals
When we work with you, our solution will be as unique as your goals. We don’t believe in a “one size fits all” approach when determining your next steps.
Keys to success
Our solutions are focused on helping our clients reach their ideal state and overcome their unique obstacles.
Common challenges
Challenge
Insecure Financial Health
Customer advocacy through financial wellness
Solution
Understanding your organizational business objectives Completing customer journey maps Identifying gaps between your current and ideal state Providing recommendations on discovered opportunities
Before implementing any solution, our team can work with you to complete a current state assessment that includes:
Prioritize needs Identify dependencies Establish timelines Finalize budgets Complete a RACI Matrix identifying resources demands and constraints, skill deficiencies, and recommendations for staff augmentations Provide change management leadership and development training
After the opportunities are evaluated and prioritized based on your needs and objectives, a digital and data strategy roadmap will be created to:
Siloed Stagnated Data
Actionable Data Distributed Across the Organization
Complicated Digital Interactions
Enhanced and Simplified Digital Experience
Threatened Customer Loyalty
Increased Share of Wallet
Inconsistent Data Usage
Effective Data Governance and Reliable Data Quality
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Our products and services
While every engagement is unique to each client’s needs, our current catalog of services and solutions can be grouped into the following categories:
Strategy planning
Current state analysis solutions
Marketing consulting
Data consulting
Program support
Provides deeper visibility into the performance of MX products and expert advice on how to maximize the value from them Ability to discover opportunities to increase revenue and share of wallet; understand the impacts of economic stresses on your customer base to proactively reduce risk and improve the customer experience; and gain insights from enhanced data, leading to discovered cross-selling opportunities and improved consumer financial wellness
Development of a digital strategy and transformation roadmap Ability to assess the current state and prepare for future state Provides change management leadership and development training
Strategy and roadmap planning
Your challenge
Understanding your current state and determining the next best steps forward
Current state assessment and preparation for future state Development of a digital strategy and transformation roadmap Change management leadership training
Our solution
Establish a baseline and set a North Star Clarity and direction to accomplish objectives and goals Effectively use data to achieve ROI Build internal expertise and sustainability Improve customer experiences
The impact
Digital transformation
1.
2.
3.
4.
Deeper visibility into how MX products are performing Discovered opportunities to increase revenue and share of wallet Ability to maximize value from MX relationships
Custom adoption and engagement analysis Review current gaps and future opportunities Expert advice
HealthCheck
Low utilization and/or adoption of your MX product or service
Provides advice and training using specialized industry knowledge on best in class power marketing with an emphasis on current trends Ability to take advantage of time to market with a dedicated resource
Custom actionable best-practices that improve engagement Targeted data-driven marketing campaigns that successfully drive adoption and engagement Increased customer loyalty with improved experiences
Custom adoption and engagement analysis Marketing review Expert advice
Adoption marketing playbook
Low utilization and adoption of your product or service
Provides a dedicated program manager to drive the execution of projects using market best practices and assets developed by MX Catalyst to assist in communication and tracking of programs Ability to increase capacity to scale by capitalizing on expert experience
Effective execution of goals and objectives Collaborative and accountable project management practices Increased capacity to scale and capitalize on expert experience
Dedicated resources Progress tracking Clear communication Expert advice
Program management
Resource constraints impacting the ability to effectively manage and drive results
Provides advice and training using specialized industry knowledge on best in class data analysis and data science Ability to take advantage of time to market with a dedicated resource
Data consulting and analysis
Proactive analysis and insights on operational and customer data Data-based 360 degree view of your customers Opportunities to better communicate and serve your customers Personalized digital experience and expanded use of products and services
Combine multiple disparate data sources Uncover meaningful and actionable insights Custom dashboards to understand behaviors Expert advice
Value of data:
Make customer and operational data actionable to drive strategies and improve experiences
Customized messaging to targeted customers affinities (meet them where they are) Increased engagement and campaign conversion rates Ability to use data insights beyond your digital channels and departments
Combine internal and external data sources Analyze, segment, and export audiences Clear customer affinities Expert advice
MXIF Pro:
Analysis of data for all customers, not just customers using digital channels
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5.
To define where you want to go, you must first understand where you are.
Defining a Success Roadmap
To help clients achieve their goals and ideal state, MX Catalyst offers specific services and solutions to address their unique challenges.
Addressing Any Barriers to Success
Once you know where you’re headed, you can identify what resources you need to reach your goals.
Providing Resources to Aid in Execution
A true partnership with experienced professionals
MX Catalyst is ready to build with you to create your own data flywheel so that you are empowered to impact your:
Our promise
Catalyst can help your organization analyze your data and show you how to use it to its fullest potential, producing actionable insights that can be used to reach your goals and drive growth.
Our timeline
The ideal state
Culture: Adopt a culture that values data analytics Technology: Adopt technology that puts that data to use Customer Experience: Combine culture and technology to offer a superior user experience and win new customers Growth: Use your customer growth to get more clean, actionable data Success: Accelerate your success and ROI on your data and technology investments
To reach your ideal state, your foundation must rely on clean, actionable data. The return on your investment depends on your implementation and action around the discovered insights and opportunities.
Moving to your ideal state
You must first understand your current state to build a transformation roadmap to your ideal state. The MX Catalyst team will help guide you and your team every step of the way. From identifying critical business lines and data silos, to becoming an organization that is more responsive to changing consumer expectations and needs, with appropriately skilled people and a scalable technology environment that can pivot rapidly as the environment shifts and evolves.
How do we get there from here?
MX Catalyst Engagement Timeline
Working with MX Catalyst will improve your ability to effectively access, distribute, and act on all your operational and customer data.
Our promise to our clients
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Discovery: 30 day
Milestone 1: Project Plan Alignment and Approval Milestone 2: Discovery and Business Requirements
Analysis: 45 days
Milestone 3: Data Processing and Analysis
Execution: 60 days
Milestone 4: Recommendations and Execution Milestone 5: Wrap Up, Retrospective, Next Phase Planning
Client achievements from working with MX Catalyst
Client testimonials
Working with MX Catalyst
“We knew that taking on a task this big would require in-depth research. We’d have to get to know our members on a different level, and it would be difficult to quantify. We were so impressed by the Catalyst team’s ability to step in and understand our systems so quickly. Thanks to our collaboration, we were able to identify the needed operational changes and implement them in a very timely manner.” - SVP of Financial Wellness for a credit union with over $2.2 billion in assets
“It’s exciting for us to learn new techniques; I’ve been doing this [bank marketing] for 17 years and have never been able to do this kind of marketing before. Discussing this with our team, we are thinking of the long-term impact it could have on the bank and it is super exciting.” -Marketing Officer for a bank with over $4 billion in assets
‘I’m anxious to look at the [Value of Data dashboards] insights. This is a far more sophisticated CRM than we had 20 years ago. It is a bit overwhelming to realize we have access to all this data. We are going to rely on your [MX Catalyst team] input to determine what our goals should be. If we aren’t asking the right questions, tell us what we should be asking.” - CEO for a bank with over $961 million in assets
“I’m blown away by this. This is awesome, I think [our product] is going to be a huge success story. There’s a lot we can do with this data… Being able to have this insight… you’ve helped us to think outside the box. We are now thinking more about the data that we have on all customers and how we can best use it.” - Digital Banking Manager for a bank with over $18.8 billion in assets
Client results
Client 4
Client 5
Client 6
Client 7
Client 8
Client 9
Developed personas to inform member engagement
Developed financial health surveys to benchmark and identify where customers are on the financial spectrum, what their risk factors are, and to provide guideposts for future financial well-being initiatives to improve their financial health
Increased interchange revenue by $156,000 monthly using the analysis of customers’ transactional data
Offered refinance options to customers with high-rate credit cards, using discovered accounts
Used analytics to power E-statement conversions
Reduced marketing expenses and reliance on third-party files saving over $48,000 annually
Increased response rates for a credit campaign and raised the FICO requirements with a personalized approach, resulting in lower net-charge off rates and increased wallet share of existing customers
Used behavioral insights to grow and up-sell deposits
Used analytics to identify service men and women (or retirees) who would qualify for VA Loans
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Product Information
Published content
Contact us
We are looking forward to working with you!
Dive deeper into more of the solutions we can provide by visiting their landing pages. If you have more questions, fill out the form on any of the pages, and a Catalyst consultant will be in touch.
Case studies
Value of data
MXIF
mx.com
Catalyst website
catalyst@mx.com
Email address
Case Studies
Using data to know your members
Increased campaign conversion with affinity- based marketing
Reducing costs by $1.5 million
Eliminated inefficiencies and increasing savings
Blog Posts
Catalyst Team Video
Helping your customers thrive in 2021
The value of digital adoption in banking
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Delivery
Explore more MX teams
TechOps
Great work! Let’s get started overcoming your challenges and designing new strategies to reach your goals. Reach out to your CSC to start working with Catalyst today. Oh, and don’t forget, you can always revisit this learning guide down the road if you need a refresher.
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