{"id":15096,"date":"2025-12-05T11:12:55","date_gmt":"2025-12-05T10:12:55","guid":{"rendered":"https:\/\/www.contovista.com\/news_latest-news\/success-factors-for-pfm\/"},"modified":"2026-01-19T14:34:59","modified_gmt":"2026-01-19T13:34:59","slug":"success-factors-for-pfm","status":"publish","type":"post","link":"https:\/\/www.contovista.com\/en\/news\/latest-news\/success-factors-for-pfm\/","title":{"rendered":"Success Factors for PFM"},"content":{"rendered":"<section height=\"710\" class=\"hero hero--diagonal hero--blue logo-color logo-color-white no-lazy\">\n  <div class=\"container container--standard\">\n    <div class=\"hero__wrapper flex row jscb\">\n\n            <div class=\"hero__info  hero__info--small hero__info--for-standard-image\">\n\n        <!-- Article data  -->\n        \n                    <a \n            href=\"https:\/\/www.contovista.com\/en\/news\/latest-news\/\" \n            class=\"hero__go-back-link\">\n            back to the overview          <\/a>\n          <div class=\"article__data article__data--postpage flex row aic\">\n            <span>05.12.2025<\/span>\n\n                        <span>10 min read<\/span> \n          <\/div>\n                <!-- Article data  -->\n\n        <!-- Titles  -->\n                              <h1 class=\"white\">PFM Success Factors <\/h1>\n                   \n\n                <!-- Titles  -->\n\n        <!-- Description  -->\n                  <p class=\"white hero__info-description-desktop\">Product Manager Nathalie Stenger being interviewed<\/p>\n                          <p class=\"white hero__info-description-mobile\">Product Manager Nathalie Stenger being interviewed<\/p>\n                <!-- Description  -->\n\n        <!-- Button  -->\n         \n        <!-- Button  -->\n\n        <!-- Clients slider  -->\n                <!-- Clients slider  -->\n\n\n      <\/div>\n\n      <!-- Image \/ Lottie  -->\n              <div class=\"hero__image hero__image--standard\"> \n          <img decoding=\"async\" \n            class=\"no-lazy\"\n            src=\"https:\/\/www.contovista.com\/wp-content\/uploads\/2025\/12\/20251204_Header_Interview-Nathalie-e1764919014915.jpg\" \n            alt=\"\"\n            caption=\"\"\n            description=\"\"\n            fetchpriority=\"high\">\n        <\/div> \n            <!-- Image \/ Lottie  -->\n\n    <\/div>\n  <\/div>\n<\/section> \n\n\n \n\n\r\n\r\n<div class=\"breadcrumbs\">\r\n  <div class=\"container\">\r\n    <div class=\"breadcrumbs__wrapper flex row aic\">\r\n      <nav aria-label=\"breadcrumbs\" class=\"rank-math-breadcrumb\"><p><span class=\"last\">Home<\/span><\/p><\/nav>    <\/div> \r\n  <\/div>\r\n<\/div>\r\n\r\n\n\n\r\n<section class=\"title-copy section logo-color logo-color-dark\"  >\r\n  <div class=\"container\">\r\n    <div class=\"title-copy__wrapper\">\r\n          <h2>From Understanding to Action: Success Factors for Personal Finance Management<\/h2>\r\n          <div class=\"textbox\">\r\n        <p>Digital finance cockpits for Personal Finance Management (PFM) offer considerable benefits \u2013 for both banking customers and the banks themselves. <strong>However, for these benefits to truly materialise, financial institutions need to consider several key factors during implementation.<\/strong><\/p>\n<p>In this interview, Contovista Product Manager Nathalie Stenger explains <strong>why high user adoption is crucial for PFM success and which best practices help<\/strong> achieve this goal. In her view, successful PFM implementation requires delivering effective solutions for relevant customer needs and ensuring deep integration into everyday banking. Equally important, however, is clear and targeted communication.<\/p>      <\/div>\r\n    <\/div>\r\n  <\/div>\r\n<\/section>\n\n\r\n<section class=\"title-copy section logo-color logo-color-dark\"  >\r\n  <div class=\"container\">\r\n    <div class=\"title-copy__wrapper\">\r\n          <h2>Only High User Adoption Creates Real Value<\/h2>\r\n          <div class=\"textbox\">\r\n        <p><em><strong>With its AI Personal Finance Manager, Contovista offers a powerful tool for digital banking. To begin broadly: what added value does this bring to financial institutions and their retail customers?<\/strong><\/em><\/p>\n<p>The greatest added value comes from a data-driven, personalised financial overview. For banking customers, this means gaining insights that would otherwise be difficult to obtain \u2013 such as identifying spending patterns and how these change over time.<\/p>\n<p>For banks, Contovista\u2019s <a href=\"https:\/\/www.contovista.com\/en\/products\/personal-finance-manager\/\">AI Personal Finance Manager<\/a> unlocks additional potential: improved advisory services thanks to analytical insights, new cross-selling and up-selling opportunities, and stronger customer loyalty. The decisive factor here is user adoption. <strong>The more intensively the tool is used, the greater the individual benefit<\/strong> \u2013 and the more valuable the data becomes for the bank. Achieving high user adoption should therefore be one of the core goals of any implementation strategy.<\/p>      <\/div>\r\n    <\/div>\r\n  <\/div>\r\n<\/section>\n\n\r\n<section class=\"image-copy section logo-color logo-color-white\"  >\r\n  <div class=\"container\">\r\n    <div class=\"image-copy__wrapper flex jcsb\">\r\n      \r\n      <div class=\"image-copy__image\">\r\n\r\n                      <img decoding=\"async\" \r\n          src=\"https:\/\/www.contovista.com\/wp-content\/uploads\/2025\/12\/Dashboard_Web.png\"  \r\n          alt=\"\"\r\n          caption=\"\"\r\n          description=\"\">\r\n                                <p class=\"text14 dark-sky-80\">Figure: Deep integration of PFM in the dashboard.<\/p>\r\n        \r\n              <\/div>\r\n\r\n      <div class=\"image-copy__copy\">\r\n        <h2><\/h2> \r\n        <div class=\"textbox\">\r\n          <p><em><strong>And what conditions must be met for customers to use the PFM tool consistently?<\/strong><\/em><\/p>\n<p>Several aspects are important. The financial cockpit must deliver a concrete benefit to customers. However, powerful value-added features alone are not enough.<\/p>\n<p>High user adoption also <strong>requires prominent and seamless integration into web and mobile banking<\/strong>. The challenge: banks often fail to actively communicate the PFM\u2019s value. This needs <strong>to be counteracted through a suitable strategy<\/strong> that clearly highlights which specific customer pain points the finance assistant resolves. T<strong>he key prerequisites for PFM success are therefore: high everyday relevance, deep integration, and easy-to-understand communication.<\/strong><\/p>\r\n                  <\/div>\r\n      <\/div>\r\n\r\n    <\/div>\r\n  <\/div>\r\n<\/section> \n\n\r\n<section class=\"image section logo-color logo-color-dark\" >\r\n  <div class=\"container\">\r\n    <div class=\"image__wrapper\">\r\n\r\n  \r\n      <img decoding=\"async\" \r\n        src=\"https:\/\/www.contovista.com\/wp-content\/uploads\/2025\/12\/20251117-Contovista-Blog-Interview-Natalie_5.jpg\" \r\n        alt=\"\"\r\n        caption=\"\"\r\n        description=\"\">\r\n\r\n              <p class=\"text14 dark-sky-80\">Image: Nathalie Stenger, Product Manager at Contovista, being interviewed.<\/p>\r\n      \r\n      \r\n    <\/div>\r\n  <\/div>\r\n<\/section>  \n\n\r\n<section class=\"title-copy section logo-color logo-color-dark\"  >\r\n  <div class=\"container\">\r\n    <div class=\"title-copy__wrapper\">\r\n          <h2>Instant \u201cAha\u201d Moments Through Relevant Banking Insights<\/h2>\r\n          <div class=\"textbox\">\r\n        <p><em><strong>How can banks ensure strong everyday relevance?<\/strong><\/em><\/p>\n<p>Customers will only use PFM tools regularly if they consistently feel that the tool offers them real value \u2013 and that this value is effortless to access. Using the tool should involve as little effort as possible. Immediate \u201caha\u201d moments significantly increase the incentive to use a PFM tool on a regular basis.<\/p>\n<p>Already in the first session, the tool needs to impress and make it clear why its use is worthwhile: through personalised financial insights that would not be possible without PFM, such as predictions for improved financial planning.<\/p>      <\/div>\r\n    <\/div>\r\n  <\/div>\r\n<\/section>\n\n\r\n<section class=\"image-copy section logo-color logo-color-white\"  >\r\n  <div class=\"container\">\r\n    <div class=\"image-copy__wrapper flex jcsb image-copy__wrapper--reverse\">\r\n      \r\n      <div class=\"image-copy__image image-copy__image--right\">\r\n\r\n                      <img decoding=\"async\" \r\n          src=\"https:\/\/www.contovista.com\/wp-content\/uploads\/2025\/12\/subscription_web.png\"  \r\n          alt=\"\"\r\n          caption=\"\"\r\n          description=\"\">\r\n                                <p class=\"text14 dark-sky-80\">Illustration: Transparent overview of all subscriptions.<\/p>\r\n        \r\n              <\/div>\r\n\r\n      <div class=\"image-copy__copy\">\r\n        <h2><\/h2> \r\n        <div class=\"textbox\">\r\n          <p>Automatically categorised expenses with clear visualisations \u2013 for example, how last month\u2019s salary was spent, or a transparent overview of subscriptions \u2013 make personal spending behaviour visible. This enables banking customers to adjust their spending in line with their financial goals.<\/p>\n<p>Accuracy in categorisation is particularly important here. It is crucial for users\u2019 trust in the tool. Providing insights is only the first step. Equally important is delivering suitable recommendations for action straight away.<\/p>\r\n                  <\/div>\r\n      <\/div>\r\n\r\n    <\/div>\r\n  <\/div>\r\n<\/section> \n\n\r\n<section class=\"title-copy section logo-color logo-color-dark\"  >\r\n  <div class=\"container\">\r\n    <div class=\"title-copy__wrapper\">\r\n          <h2>Concrete Recommendations Increase Engagement Rates<\/h2>\r\n          <div class=\"textbox\">\r\n        <p><em><strong>So it\u2019s about moving from understanding to taking action. How is this achieved in practice with Contovista\u2019s AI Finance Cockpit?<\/strong><\/em><\/p>\n<p>Financial insights are supplemented with simple, immediately actionable tips, such as saving suggestions or budgeting hints. This motivates users to actually change their behaviour. Our data clearly shows: personalised, easy-to-understand prompts significantly increase engagement rates.<br \/>What matters here is restraint: a few relevant nudges are far more effective than an overload of information.<\/p>\n<p>&nbsp;<\/p>\n<p><em><strong>As a UX expert, you always consider the user experience when defining best practices for PFM. What makes the perfect user experience?<\/strong><\/em><\/p>\n<p>This brings us to the second point I mentioned earlier: deep integration of the PFM into digital banking. A PFM should not be an isolated feature hidden in a separate tab; it should also be integrated into the right context. In this way, the tool becomes \u201cinvisibly visible\u201d for customers. Insights and recommendations are provided at exactly the right moment \u2013 for example, when tax season begins and our Tax Feature (i.e., Intelligent Tax Deductions) helps customers identify all relevant deductible transactions. This makes the finance assistant a true companion in everyday life.<\/p>\n<p>&nbsp;<\/p>\n<h3>Customer-Centred Communication Is Essential<\/h3>\n<p><em><strong>As you mentioned earlier, successful PFM implementation also requires an appropriate communication strategy. What is important here?<\/strong><\/em><\/p>\n<p>Exactly! Customers rarely visit digital banking platforms to actively search for new features. That\u2019s why communication must take place across multiple channels \u2013 and in a context-based manner, so customers are reached at the right moment.<\/p>      <\/div>\r\n    <\/div>\r\n  <\/div>\r\n<\/section>\n\n\r\n<section class=\"image section logo-color logo-color-dark\" >\r\n  <div class=\"container\">\r\n    <div class=\"image__wrapper\">\r\n\r\n  \r\n      <img decoding=\"async\" \r\n        src=\"https:\/\/www.contovista.com\/wp-content\/uploads\/2025\/12\/20251117-Contovista-Blog-Interview-Natalie_EN.jpg\" \r\n        alt=\"\"\r\n        caption=\"\"\r\n        description=\"\">\r\n\r\n              <p class=\"text14 dark-sky-80\">Illustration: Multichannel communication on PFM value-added features in digital banking.<\/p>\r\n      \r\n      \r\n    <\/div>\r\n  <\/div>\r\n<\/section>  \n\n\r\n<section class=\"title-copy section logo-color logo-color-dark\"  >\r\n  <div class=\"container\">\r\n    <div class=\"title-copy__wrapper\">\r\n          <div class=\"textbox\">\r\n        <p><strong>Many banks already have strong customer touchpoints such as social media, newsletters or customer magazines.<\/strong> This presents a major opportunity: it\u2019s not about presenting PFM as an isolated \u201csuper tool\u201d.<\/p>\n<p>It is far more effective to embed PFM into existing topics.<strong> If a bank publishes content on \u201cbudget planning\u201d, it should not recommend Excel templates, but instead point out that a relevant feature is already available within its digital banking offering<\/strong>.<\/p>\n<p>Our experience shows that there is often a gap between product and marketing. This gap needs to be closed so that PFM is not only technically available, but also truly perceived and used.<\/p>\n<p><em><strong>And what role does the analogue \u201coffline\u201d world play in communicating PFM \u2013 in other words, personal advisory meetings?<\/strong><\/em><\/p>\n<p>Personal advisory services remain an important channel as well! Many customers appreciate personalised advice from their bank. However, a<strong>dvisers often know too little about PFM features and fail to mention them<\/strong>. Targeted information materials can help staff build this knowledge. When advisers are familiar with the PFM, they can specifically point customers towards it \u2013 and benefit themselves from the analytical insights. This enables more individual conversations, better solutions, and ultimately higher customer satisfaction.<\/p>      <\/div>\r\n    <\/div>\r\n  <\/div>\r\n<\/section>\n\n\r\n<section class=\"title-copy section logo-color logo-color-dark\"  >\r\n  <div class=\"container\">\r\n    <div class=\"title-copy__wrapper\">\r\n          <div class=\"textbox\">\r\n        <p><em><strong>Digital innovation continues to bring new solutions and approaches. Which developments will shape the market in the coming years?<\/strong><\/em><\/p>\n<p>A <strong>major topic remains <a href=\"https:\/\/www.contovista.com\/en\/news\/focus-topics\/the-banking-of-the-future-open-finance\/\">Open Finance and multibanking<\/a><\/strong>. Personal financial data is increasingly consolidated in one place via interoperable interfaces. Banking customers will then operate through a central \u201cOne Finance Hub\u201d, where they carry out all financial activities. Within this hub, they will also use more data-driven value-added services. This includes \u201cBeyond Banking\u201d, meaning the use of non-financial services. The trend from understanding to action is evolving more and more towards automation.<\/p>\n<p>Customers expect not only recommendations, but also automatic execution \u2013 such as budget optimisations or saving transfers powered by agentic AI.<\/p>\n<p>At Contovista, we have already implemented a form of such automation within the AI Personal Finance Manager (PFM) through the Smart Balance Optimiser in the spirit of \u201cself-driving money\u201d.<\/p>\n<p>The PFM of the future will be a true financial co-pilot: proactive, adaptive, transparent and action-oriented.<\/p>\n<p>&nbsp;<\/p>\n<p><em><strong>Thanks for the chat, Nathalie!<\/strong><\/em><\/p>      <\/div>\r\n    <\/div>\r\n  <\/div>\r\n<\/section>","protected":false},"excerpt":{"rendered":"<p>Nathalie explains why high user adoption is crucial for PFM success and which best practices help achieve this goal. A successful PFM implementation requires delivering effective solutions for relevant customer needs and ensuring deep integration into everyday banking. Equally important, however, is clear and targeted communication.<\/p>","protected":false},"author":4,"featured_media":15095,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-15096","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news_latest-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.contovista.com\/en\/wp-json\/wp\/v2\/posts\/15096","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.contovista.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.contovista.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.contovista.com\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.contovista.com\/en\/wp-json\/wp\/v2\/comments?post=15096"}],"version-history":[{"count":4,"href":"https:\/\/www.contovista.com\/en\/wp-json\/wp\/v2\/posts\/15096\/revisions"}],"predecessor-version":[{"id":15106,"href":"https:\/\/www.contovista.com\/en\/wp-json\/wp\/v2\/posts\/15096\/revisions\/15106"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.contovista.com\/en\/wp-json\/wp\/v2\/media\/15095"}],"wp:attachment":[{"href":"https:\/\/www.contovista.com\/en\/wp-json\/wp\/v2\/media?parent=15096"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.contovista.com\/en\/wp-json\/wp\/v2\/categories?post=15096"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.contovista.com\/en\/wp-json\/wp\/v2\/tags?post=15096"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}