IBM Japan and Money Forward X partner on customer marketing service for financial institutions

IBM Japan and Money Forward X have integrated IBM Japan’s “IBM Digital Services Platform for Financial Services (DSP)” with Money Forward X’s “X-Insight Marketing (XIM),” a function that automatically suggests financial products based on user needs, and has begun offering “XIM-API for DSP”, a service that supports the realization of marketing tailored to each individual.

DSP is a platform that promotes digital transformation and is used by over 30 financial institutions, providing industry-wide services openly and stably on a cloud for financial services. DSP also works with a platform that can integrate and utilize data obtained from digitalized operations and channels with data from traditional financial accounting systems.

Meanwhile, XIM is a service that analyzes financial data to detect financial products that users need and automatically suggests them through apps and emails. Financial institutions that have used this service have achieved an average click-through rate of over 10% for automatically suggested product pages, significantly exceeding the average click-through rate for general advertising.

With this collaboration between DSP and XIM, financial institutions will be able to analyze this integrated data with the highly accurate algorithms developed by Money Forward X, and will be able to detect the needs for financial products such as insurance, investment trusts, and various loans based on the user’s life events, and automatically propose financial products tailored to each individual. Marketing automation will strengthen the approach to new potential customers, for whom it was previously difficult to allocate human resources.

In addition to this service, IBM Japan and Money Forward X plan to continue collaborating to strengthen DSP integration functions and provide the following services.

• ”Provision of a high-quality common platform banking app”: A multi-functional, full-service banking service that provides a secure, excellent customer experience with an easy-to-use screen design by connecting DSPs with Money Forward X’s “BANK APP”
• “Enhancing marketing by visualizing customer assets”: By aggregating and integrating data, the company will improve convenience by providing household accounting and asset management functions for individual users and cash management functions for corporate users, as well as providing personalized marketing based on financial data, including information on accounts at other banks and credit card usage.

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