How Engage can help with the cost of living

Bud has created this guide to show how financial institutions and fintechs can support vulnerable households to reduce personal financial pressure. Balance and transaction data from Bud’s enrichment service can be used to trigger personalized actionable insight notifications to customers through existing financial platforms such as banking apps, online banking services and personal financial management tools.

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Business benefits

1. Increase customer engagement and loyalty
2. Provide better and personalised products to your customers based on their financial situation
3. Create highly personalised customer experiences and, in turn, drive revenue and retention

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Customer benefits

1. Increase savings
2. Increase financial wellbeing
3. Increase spending awareness

How to use this guide

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Prerequisite before getting started

You must have integrated with the Bud platform and have the ability to send one or more of the below notifications to customers. Then you are ready to go!

We have included use cases to describe a particular goal or objective that may be achieved by using combinations of data to trigger notifications. In addition, we’ve included examples of implementation: good, better and best to demonstrate how adding more logic can lift a notification from awareness to being highly personalized with complementary functionality like spending reports and budgeting tools.

Notification types

There are five notification methods to consider when planning your implementation. The method(s) that you choose will depend on the platform you are using to communicate with your customers and what communication preferences your customer has agreed to receive.

1. Push notification
2. In-app message
3. Email
4. Short Message Service (SMS)
5. Multimedia Messaging Service (MMS)

How it works

1. Decide what type of messages to send and customize example copy as needed
2. Add the code logic to the Bud integration
3. Set up messaging rules for your platform

Once set up, after a customer connects their accounts or their data is refreshed and there is a data match, a message will be triggered and sent to the customer.

If you have any questions, please contact us via the chatbot (bottom-right of screen 👉) or via a support request or check our FAQs.