Desjardins signs fourth consecutive multi-year agreement with exagens

Montreal, Quebec, Canada – April 11th, 2023. Desjardins—the largest credit union in North America—has extended its longstanding relationship with exagens—the leading provider of behavioral banking solutions—and entered into their fourth consecutive multi-year agreement together to continue providing members with contextual, individualized insights into their own financial lives. Desjardins’ continued commitment to the partnership is an ongoing vote of confidence for exagens and the future of behavioral banking.

Fusing both data and behavioral science, Behavioral Banking proactively guides and reactively assists members across the whole digital banking experience, catalyzing them to take positive action and encouraging them to save, spend, borrow, and invest wisely. Desjardins’ Assistant AccèsD—powered by exagens—actively reaches out to members and engages them in digital conversations to provide tips, offer advice, and assist in the completion of transactions.

Since 2015, the exagens team has worked closely with Desjardins to enrich its digital experience and develop new capabilities across an expansive and ever evolving set of requirements. Completely autonomous, behavioral banking works to engage members according to their specific situation, producing robust and mutually beneficial results like:

  • growing deposits by stimulating increased saving by members, with 25% additional new savings accounts opened and 3.4x more savings per year per member when guided by behavioral banking;
  • reducing operational costs by catalyzing members to switch to e-statements and direct deposit;
  • increasing digital engagement with a 98% customer-satisfaction rating.

As the needs of Desjardins and its members evolved with fluctuations in the economy and the accelerating shift to digital, the collaboration with exagens grew to address issues and capture opportunities like swelling deposits, assisting everyone through the pandemic, and nudging members towards better financial decisions. By engaging members where they are, exagens and Desjardins together have helped educate them about online capabilities, reducing call center volume as a result.

“Throughout our longstanding partnership, exagens has worked with Desjardins to address challenges like improving the financial wellness of their members, up-selling, cross-selling, reducing call center volume, and increasing digital engagement,” explains Michael Stojda, President & CEO of exagens. “This most recent renewal again confirms our steadfast focus on community-based financial institutions, the strong relationship we’ve built with Desjardins and the ongoing value together we’ve provided to both Desjardins and their members over the past 8 years. We look forward to this exciting new chapter in our partnership.”

As community-based financial institutions strive to increase digital engagement and loyalty as part of their digital transformations, the exagens team and its Behavioral Banking Platform are helping provide a differentiated and valued experience to institutions such as Desjardins.

About exagens

Exagens' autonomous Behavioral Banking platforms are designed to simplify the process of personal banking by focusing on increasing engagement, adoption, and loyalty through humanizing digital channels. Led by a team of industry veterans, exagens helps Credit Unions provide highly individualized and actionable money related insights to improve the financial lives of their members symbiotically.

Our Behavioral Banking solutions have been responsible for improving the financial lives of millions while simultaneously increasing engagement, digital sales and adoption/usage thereby improving financial institutions’ top line while delivering operational efficiencies to strengthen the bottom line. Exagens and its solutions have received multiple industry awards including ones from EFMA, Celero and OCTAS and has been named a Cool Vendor in Banking by Gartner.

About Desjardins

About Desjardins Group

Desjardins Group is the largest cooperative financial group in North America and the fifth largest cooperative financial group in the world, with assets of $407.1 billion. It was named one of the World’s Top Female-Friendly Companies by Forbes magazine. To meet the diverse needs of its members and clients, Desjardins offers a full range of products and services to individuals and businesses through its extensive distribution network, online platforms, and subsidiaries across Canada. Ranked among the world's strongest banks according to The Banker magazine, Desjardins has some of the highest capital ratios and credit ratings in the industry.

Behavioral Banking Desjardins press release