Customers registering to GBS can choose to achieve their goals by transfer money manually, or – if the capability is acquired by the bank and the customer is eligible, using one of the automated savings programs.

Note: Refer to Program Eligibility for more information on customer eligibility.

Automated Funding Programs

The automated funding method is available for eligible customers of banks that acquired the service as a part of their GBS implementation. Eligibility for the programs is determined by Personetics multi-step analysis of each customer targeted by the bank.

The automated program is chosen by the customer either during the onboarding process, or at any point through the management menu.

Automated Money Transfer Methods

Three types of automated money transfer methods are available:

• Smart Save (SS)
• Round Ups (RU)
• Pay Yourself First (PYF)

Smart Save

Smart Save identifies small amounts of money in a customer’s checking account that are safe for them to save and transfers the amounts to their savings account. The Program uses the customer’s financial map to analyze their income, expenses, and spending patterns, to learn when and how much can be saved without impacting their day-to-day spending needs. Typically, Smart Save transfers are capped at $50 per transfer, and can be made up to three times a week.

Round Ups

Round Ups helps customers by rounding up their debit card purchases to the nearest $1, $3, or $5, and automatically transferring the difference to their savings account.
Every debit card purchase is rounded up, including whole dollar amounts. On days with multiple debit card purchases, each transaction is rounded up, and the total amount is transferred in a single transaction. Following is an example of how Round Ups operates using different booster values is below:

The Round Ups program has ‘safe to save’ logic that uses the customer’s financial map to analyze if a specific day’s saving transfer is ‘safe’. If the event is not safe, the Program does not adjust the aggregate transfer amount downwards – instead, a transfer is not made that day.

Pay Yourself First

Pay Yourself First allows customers to save a portion of their salary each time it is deposited in their checking account. Customers define the amount or percentage of their salary they wish to save. Pay Yourself First, then evaluates whether the requested amount is safe for the customer to save when their salary deposit is identified.
If the amount is safe to save, it is transferred to their savings account. If it is not, the Program will attempt to adjust the requested amount downwards to a level where it is safe to save and then perform the transfer.

Program Eligibility

Program Eligibility is relevant for a bank taking automated funding programs as a part of their GBS implementation. The potential funding programs a bank can take are: Pay Yourself First (PYF), Round Ups (RU), and Smart Save (SS). Each funding program intends to help enrolled customers reach their goals faster by automating the saving process. Eligibility for the programs is determined by Personetics multi-step analysis of each customer targeted by the bank.

Customer Profiling

Financial Mapping

The customer profiling process analyzes each targeted customer and creates a financial map to have a comprehensive understanding of their financial status as the basis for eligibility.

The financial map includes a customer’s expected cash-flow, types of expenses, financial activity patterns, and can include knowledge of both internally and externally held bank accounts. Recurring income activity is essential to this program. The financial map is intended for the entire population that the bank would like to target in this experience.

Financial mapping is executed using scheduled bi-weekly batches. The batch process runs every day and would process each customer at least once every two weeks to create the necessary profiles for the program.

Eligibility Analysis

The eligibility analysis process uses the data in the financial map to segment the customer into one of several eligibility states for each program for further handling. The eligibility segment given to the customer will aid in initiating invitations to relevant customers as well as tuning relevant transfer thresholds for enrolled customers.

Who?
The eligibility processing is intended for the entire population that the bank would like to target in this program as well as the enrolled customers.

When?
The eligibility is executed using scheduled bi-weekly batches. The batch process runs every day and would process each customer at least once every two weeks to segment the customers.
This batch is usually coupled with the profiling batch for optimized use of system resources as they both require DI of the customer.
This batch requires the result of the profiling batch for segmentation to be valid.

The process consists of searching financial maps for accounts in which:

• There is sufficient overall activity
• There is a healthy balance in previous months
• The total customer’s assets are within a pre-determined threshold
• Both customer & account are meeting the bank’s base conditions

Manual Funding Methods

The manual funding method consists of one-time transfer recommendation insights that can be sent to customers not enrolled in the automatic savings method, or as a ‘top-up’ for customers already enrolled in the auto-savings methods.

To customers enrolled in the auto-savings methods, the insights recommend that the customers set up a one-time transfer towards their goal(s). This one-time transfer will exist outside of the Personetics money movement programs and will use the bank’s own interface and internal transfer mechanisms. One-time transfers will participate in the goal calculation process, meaning they will be split amongst the goals based on the customer's split ratios.

The following manual funding recommendation insights are available:

• GBS_RecommendOneTimeTransferBasedOnBalance: The purpose of this insight is to encourage a user to transfer money to their goals by identifying when they have a stale balance in their checking account that could be used to fund their goals.

GBS_RecommendOneTimeTransferBasedOnDeposit: The purpose of this insight is to encourage customers to make an impulse transfer to their goals or money movement program after identifying a meaningful deposit in their checking account.