A Year in Review: The Paperwork Product
2023 has been a big year for Paperwork, and we’re excited to highlight some major ways the product has changed over the past year.
Staying true to Paperwork’s mission of providing financial wellness for everyone, we listened to our users to provide a new level of goal tracking, scoring integration, and access to credit union products.
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, Paperwork’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.
We’ve also moved our action list, where we recommend the next steps a user should take, 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, users now have the ability to track their credit score directly in our app. With our SavvyMoney integration, users can see their score and get tips on how to improve it.
Financial coaching
When members run into a difficult question, they can now schedule a meeting with one of their credit union’s financial coaches, directly in the app. This creates a great opportunity for financial coaches to understand their members’ needs, offer them appropriate guidance and educate them on which of the credit unions’ products and services may be helpful.
Contextual product offers
Our educational modules follow an engaging conversational format, and a significant enhancement this year has been the integration of credit union products. As users progress through our conversations, we learn about their financial needs, guide them to address any issues, and introduce tailored credit union products to improve their financial wellbeing.
Increased marketing touchpoints
We provide our partner credit unions with integrated marketing, including emails and app notifications, alongside our financial wellness app. It’s important to us that members stay engaged with the app year-round, so we are constantly enhancing our marketing to remind users to engage with their financial health.
What’s next for Paperwork
Although we’ve made major enhancements to our product over the past year, we’re not done yet! Early in 2024, users can anticipate an even richer variety of topics to address their most pressing needs, including guidance on managing credit card debt, buying a house, saving for college, and more. We understand that different people like to learn in different ways, so we’re also adding long-form articles and engaging video content.
The Paperwork team is mission-driven, and we are constantly finding ways to make financial wellness more accessible to all. This year has been especially rewarding, thanks to collaborations with esteemed credit unions such as BCU. These partnerships have been instrumental in broadening our understanding of the unique needs of credit unions and their members, helping us effectively tailor and enhance our solution to meet those needs head on.
If you want to make sure your credit union is leading the charge in improving your members’ financial wellbeing, schedule a consultation with the Paperwork team today.