Many consumers have the need for financial insight. The reason may differ: just wanting to know what their current financial situation is, wanting to work less hours, early retirement, overseeing the impact of a divorce, etc. Finding the answers to above issues turns out to be a difficult and time consuming task for consumers. In most cases the customer journey results in frustration or sticking their head in the sand.
Providing realtime and on-demand financial insight for consumers through financial planning platforms will be the new standard. MyLife (a product of Yellowtail), is a integral financial insights platform that activates consumers to independently make (better) financial decisions. We do this by bringing the seemingly complex issues back to a simple step-by-step plan in order to get this overview, insight and clear action perspective.
Integrated financial insight through MyLife
MyLife is a unique robo-advice platform that enters into a dialogue with a consumer in a fun, effective and very easy way, with the aim to clarify his or her financial situation now or in the future. With MyLife, we enable pension funds and pension providers, banks, insurers and asset managers to significantly improve their clients/participants financial quality of life and thus to be strategically distinctive from the competition.
For financial institutions this leads to the development of an active customer relationship. Herewith the fund takes care of the financial well-being of and offers options to their participants to arrange their future in such a way so it aligns with their wishes, needs and financial possibilities. In addition, MyLife is eminently the product that facilitates financial parties in signalling focus areas and risks, which can result in great oppurtunities for upselling.
The power of data aggregation, business logic and a computing core
MyLife is a product that focuses on simplicity, clarity and low effort. Because of the data aggregation solution Ockto, the participant, either for himself and his or her partner, can collect data in a simple and secure way from, among others: the Tax Authorities, My Government, the UWV and the Pension Register. The data is enriched with model-based and exact expenditures and translated into the calculation that gives consumers insight into what he has to spend now and in the future. With a few clicks, the consumer has insight into a possible setback in his net disposable income, savings potential, feasibility of pension scenarios and risks. The consumer can convert these insights into personal goals and actions. For example, setting pension targets, choosing the right savings or investment mix, actively monitoring returns and feasibility, or gaining insight into the effect of extra repayments on the mortgage.
MyLife as an accelerator for your business?
For more information, you can contact:
Robin Bouman – firstname.lastname@example.org
Jan Marten van Seijst – email@example.com