Infinity Group Australia
2019 Innovation Name: Money Mentoring & Financial Coaching
Awards: 4th Most Innovative Banking, Superannuation and Financial Services Company
Our application interacts via various application programming interface (API’s). These API’s can pull data from various institutions, so all their data sits in one place. Clients can hold live data across all their bank accounts as well as all assets & liabilities. The program also updates daily the value of any real estate & motor vehicles. During the onboarding process there is a goal set. Then with click of a button they can run a report that will show if they are below, on track or exceeding the goal.
Since introducing the application, we have noticed a significant decrease in discretionary spending habits. Before the average was $863 weekly and now is $737 weekly per household. This is a phenomenal saving of 14% per household. This money was being wasted but will now go towards reducing debt. This has increased both client feedback (VOC) and increased testimonials. This has seen the business grow substantially from this innovation. 47% of business in the last 12 months was from repeat and referral clients. All noting the results associated as the reason for doing business with us.