Southwestern Ontario and LEHI, Utah, June 16, 2021 (GLOBE NEWSWIRE) – Libro Credit Union, Southwestern Ontario’s largest credit union, has announced the launch of a new app for money management, Yooli, designed to help people take control and improve their financial well-being using data-driven technology. Yooli is powered by the award-winning modern MX connectivity and data enhancement platform.
The new Libro app includes an interactive FinStrong financial health assessment tool; as well as MX’s personal, predictive and proactive financial advice and alerts. The Yooli app will be aided by the feedback provided by the owners of Libro (it considers its customers / members to be “owners”) who have been invited to register and test the beta of the app, which is still in development. During the initial beta rollout, registrations totaled over 2,000.
The FinStrong tool included with Yooli will use the spending, saving, and borrowing behavior of all logged in user accounts to automatically generate a financial health score and roadmap for each owner. Additionally, MX will apply its machine learning capabilities and behavioral transaction data to generate insights that will protect, guide, and inform account holders about everything from opportunities to save more money to duplicating subscriptions and subscriptions. transactions to potential overdraft possibilities.
“We know the more feedback we get from our owners, the more powerful our app will be,” said Michael Smit, executive vice president of branding and digital delivery at Libro Credit Union. “We chose MX because they are the leaders in improving data and modern connectivity, we have a strong alignment of values and we knew this partnership would help our owners become financially resilient. An important pillar for Libro, and that’s just one of the ways we hope to achieve it.
By working with MX, Libro has aligned itself with a company that shares its strong values of empowering the world to be financially strong. “The name Yooli is a combination of (Yo) u and (Li) bro working together to help you make friends with your money,” Smit said.
“The strong alignment of the common goal with Libro is an important factor that makes this partnership so meaningful,” said Nate Gardner, director of customer service at MX. “Yooli is brilliantly designed to be an individual’s financial guide, proactively leading Libro owners to greater financial strength. This is only possible through the combination of modern connectivity and smart data fueling a delicious cash experience for a credit union that truly cares about the financial health of its owners.
“Since Libro has existed, supporting our owners towards financial success has always
been at the heart of everything we do, and teaming up with MX has created new ways of doing it, ”said Stephen Bolton, CEO and Head Coach of Libro Credit Union. “As the world becomes more and more digital, we want Yooli and our coaches to work together. Think of Yooli as your ever-active financial wellness assistant, partnering with your coach to help you thrive.
A cooperative financial institution with more than 106,000 owners, 700 employees and 36 branches in southwestern Ontario, Libro Credit Union believes in the power of working together. The launch of the Yooli app is the latest numerical advantage for the 100,000 owners of the 75-year-old credit union and their long history which includes a total of 43 different organizations that have combined their own rich stories to make Libro the cooperative. credit to success that it is today.
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About Libro Credit Union
Libro Credit Union is a full-service financial institution serving more than 106,000 member-owners through a digital service network and 36 physical locations. As a Certified B Corporation®, Libro invests 100 percent of its profits in the people, businesses and communities of southwestern Ontario. To learn more about how to own a home and what it means to bank with a goal, visit libro.ca.
MX, the leader in modern connectivity and data enhancement for financial institutions and fintechs, helps organizations around the world connect to the world’s financial data and turn raw, unstructured data into their greatest asset. more valuable to deliver smart and personalized monetary experiences. MX connects more than 16,000 financial and fintech institutions, providing the industry’s most reliable and secure data connectivity network. Additionally, MX powers 85% of digital banking providers, as well as thousands of banks, credit unions, and fintechs, with a combined reach of over 200 million consumers. To learn more, follow us on Twitter and LinkedIn or visit www.mx.com.
- 2021.06.16 Libro Credit Union Partners with MX to Drive Financial Well-Being in Southwestern Ontario