A Year in Review: The Ovation Platform
Note: the original article appearing on December 12, 2023 has been updated to reflect the rebranding of Paperwork to Ovation.
2023 was a pivotal year for Ovation, the main highlight being the exciting launch of BCU’s MoneyTracks™ app and the succesful pilot project that followed (read the case study here). Beyond that, the team remained hard at work, improving the Ovation platform in several respects, and we’re excited to share some of the major product advancements we accomplished. Let’s dive in to see what’s new with the product, and what our updates mean for the credit unions that work with us.
Our product vision
Scott Mount, Ovation’s CPXO, says, “We believe providing the right financial tools can help people establish healthy habits, tackle their goals, and ultimately achieve peace of mind. We’re focused on continuing to grow our comprehensive platform with modern financial education, personalized guidance, and financial analysis tools that empower people to better financial outcomes.”
Improved goal tracking
Our most recent improvement includes bringing goal tracking to the forefront of our app. Users can now view their monthly spending, saving, debt, and retirement savings in a chart-view dashboard on the homepage of our app, so they can always keep an eye on their goals. Users can also track each of these accounts down to the transaction level - a feature that’s particularly handy for those wanting to monitor their budget and spending.
We’ve also moved our action list, where we recommend the next steps a user should take to improve their financial health, to our homepage. Right below our tracking dashboards, users can easily see their next steps, so they never need to wonder about their next financial move.
Scoring integration
We’ve always provided a comprehensive metric that helps users keep a pulse on their financial wellness, but we’ve made some improvements to our score in 2023. We’ve changed the sub-scores in this metric to include spending, saving, debt, planning, and retirement, so they reflect the charts users see on their dashboard. Our scoring mechanisms have also seen some minor changes to provide for a more accurate score.
In addition, with our SavvyMoney integration, MoneyTracks™ users now have the ability to track their credit score directly in the MoneyTracks™app and get tips on how to improve it.
Financial coaching
Members now have the ability to schedule a one-on-one session with their credit union’s financial coach—right from the app. This new feature provides a direct line to expert guidance, making it easier than ever for members to get the support they need, exactly when they need it.
For credit unions, this is more than just a scheduling tool—it’s an opportunity to deepen relationships, gain valuable insights into members’ financial needs, and provide tailored solutions. By offering personalized coaching, credit unions can guide members toward smarter financial decisions while introducing them to products and services that align with their goals.
Contextual product offers
Our interactive educational modules are designed to engage members in meaningful financial conversations. This year, we’ve taken them a step further by seamlessly integrating contextual product offers—ensuring that members receive personalized recommendations that align with their financial goals.
As users navigate Ovation’s educational modules, the platform intelligently analyzes their financial needs and suggests relevant credit union products and services that can support their journey toward financial well-being. This data-driven approach allows credit unions to deliver the right solutions at the right time, enhancing both member engagement and financial outcomes.
Increased marketing touchpoints
At Ovation, we go beyond providing a financial wellness app—we equip our partner credit unions with built-in marketing tools to keep members engaged long after they sign up. This year we have significantly bolstered these marketing capabilites. Our integrated marketing suite includes targeted emails and in-app notifications, ensuring that members receive timely reminders to check in on their financial health.
We understand that ongoing engagement is key to lasting financial wellness, which is why we continuously refine our marketing strategies to encourage members to take action, explore new financial opportunities, and stay actively involved in their financial journey—all year long.
What’s next for Ovation
While we’ve made significant enhancements to our platform over the past year, we’re just getting started. In early 2024, members can expect an expanded range of financial topics designed to address their most pressing needs—including managing credit card debt, buying a home, saving for college, and more.
Recognizing that people learn in different ways, we’re also introducing long-form articles and engaging video content, making financial education more accessible and interactive than ever before.
At Ovation, our mission is to make financial wellness a reality for everyone. This year has been particularly rewarding, as we’ve deepened our collaborations with esteemed credit unions like BCU, gaining valuable insights into the unique needs of both credit unions and their members. These partnerships have been instrumental in shaping our platform, allowing us to refine and enhance our solutions to better serve the credit union community.
To learn more about the Ovation platform , schedule a consultation with our team today.