New generations, emerging technologies and changes in the way we understand our personal finances have created a new paradigm in the market and in society as a whole.

Financial health and PFM

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As a result, the fintech revolution and the emergence of the so-called "Neobanks" have accelerated digital transformation within financial institutions.

A key investment in this area has been the development of PFM tools to help clients manage their finances. However, these tools have not been adopted in line with expectations, nor have they helped to improve how customers rate their bank, in spite of the vast number of services that have been built around these initiatives.

Thanks to our experience working with these types of digital solutions, at Management Solutions we are able to offer financial institutions an alternative approach to the management of their clients' personal finances:

  • Covering all stages of financial planning, thus helping clients not only to analyze their economic situation, but to proactively establish a plan, providing them with the necessary tools until their goals are achieved.
  • Providing a 360 degree view of the customer’s finances that does not neglect some important areas such as tax management, investment for retirement, or asset protection.

This requires evolving the current model, which focuses on the quantity of tools and information offered to the customer, towards a new personal finance management model with a focus on people’s financial health, which means providing customers with the ability to manage their personal finances proactively over time in order to achieve their financial goals. 

This new approach, in line with the new trends in the digital industry, should be leveraged on a series of principles that will help to educate users in managing their finances efficiently and in setting financial goals based on their needs:

  • Simplicity
  • Customization
  • Proactivity
  • Transparency
  • Gamification
  • Availability