Revolutionizing traditional banking

Banco BPM, a prominent banking institution in Italy, acknowledged the necessity for a thorough digital transformation to align with evolving customer expectations in the swiftly evolving financial landscape.

The Challenge

In response to the COVID-19 health emergency, Banco BPM confronted the challenge of modifying and evolving its digital banking services to facilitate remote access to their accounts. Simultaneously, the bank aimed to integrate high-value services, such as expense management and monitoring systems, into its digital offerings.

The solution

To tackle these challenges, Banco BPM partnered with CRIF and Strands, renowned providers of innovative fintech solutions.

Through this collaboration, Banco BPM successfully deployed YouPlan Business for business customers and “PFM,” a dedicated application within its mobile app for individual customers. Both solutions were powered by CRIF and Strands’ SaaS offerings.

These new functionalities encompassed a broad spectrum of features, empowering customers to take control of their finances and manage their accounts with increased efficiency.

YouPlan Business: Transforming Business Financial Management

YouPlan Business stands as Banco BPM’s pioneering solution tailored explicitly for businesses. This powerful platform integrates seamlessly into a company’s operations, revolutionizing financial management with its suite of advanced tools. From expense tracking and budgeting to insightful financial forecasting, YouPlan Business empowers businesses to make informed decisions and steer their financial trajectory with precision.

This platform assists businesses in achieving enhanced financial control, streamlining their operations, and enabling well-informed financial decision-making.

1. Invoice Reconciliation: Seamessly reconcile invoices to mantain a clear picture of financial obligations and opportunities.
2. Expense Tracking and Categorization: Streamline expense management with automated tracking and categorization for comprehensive financial oversight.
3. Cash Flow Analysis: Navigate the intricacies of cash flow with intuitive visualizations, enabling businesses to make timely adjustments and seize opportunities.
4. Budgeting and Forecasting: Gain predictive insights into financial trends, allowing businesses to proactively plan and allocate resources efficiently.
5. Thresholds setting for Expense Categories: Monitor expenditure trends over time and receive alerts upon reaching or surpassing your predefined spending thresholds.
6. Customizable Reports: Tailor reports to specific business needs, providing invaluable insights for stretegic decision-making.
7. Tailored Notifications for Informed Decision-Making: Enables business customers to stay informed about their company’s financial health with timely alerts.

The Result

YouApp: Empowering Retail Customers

“YouApp,” an advanced tool used by Banco BPM’s individual customers, is one of the most popular mobile banking apps in Italy, boasting a store rating of 4.7 and a Net Promoter Score (NPS) of 69.The app offers advanced authentication systems utilizing biometric factors, as well as innovative AI features suchas the ability to use one’s voice to navigate the app or make cash transfers.In 2021, the YouApp was enhanced with Personal Financial Management (PFM), a significant new feature resulting from collaboration with CRIF and Strands. YouApp is replete with features that promote financial well-being:

1. Account aggregation: Unifying all your banks in one application, YouConnect provides a consolidated view of your Banco BPM accounts and those held with other banks. This comprehensive overview encompasses both account balances and transaction histories.
2. Expense Monitoring and Analysis: Keep tabs on spending habits and patterns through intuitive dashboards, ensuring informed financial choices.
3. Savings promotion: by forecasting end-of-month expenditure trends with previous months for informed planning and allocating effectively desired monthly savings target.
4. Category-wise Expense Tracking: Automatically categorize expenses for a clearer understanding of where money is going.
5. Threshold Management: Set spending limits for various expense categories, facilitating budget adherence.
6. Tailored Notifications for Informed Decision-Making: Gain insights into top spending brands to make informed decisions according to your situationand financial goals.

The Result

Banco BPM’s digital innovation has profoundly enhanced the banking experience for retail customers, achieving remarkable engagement with over 700,000 monthly interactions. The retail banking app created thanks to the existing synergies of Strands and CRIF, is celebrated for its user-friendliness, boasting a 4.7/5 app store rating and reflecting our unwavering commitment to excellence. Moreover, the solid Net Promoter Score (NPS) of 6.9 (reached at the end of 2022) highlights our success in fostering customer satisfaction and loyalty. By introducing ‘YouApp’ with integrated Personal Financial Management (PFM) tools and Engager for real time advice and smart recommendations, we’ve empowered customers with seamless financial oversight, from expense tracking to savings optimization, affirming Banco BPM’s role as a pioneer in the digital banking revolution for individuals.