Finicity enhances customer experience and sensitive data management with Fullstory

Since its establishment over 20 years ago, Finicity has evolved from a personal finance management tool to a B2B open banking platform for financial data aggregation. When a customer connects their bank account to another fintech platform–like a loan application, a payment portal, or any service that uses financial data–Finicity acts as the bridge between the bank and the external organization or service. Finicity uses Fullstory as an all-in-one platform for product analytics and customer behavior insights.

Finicity improves fraud detection process and data collection best practices with Fullstory

Manage sensitive data seamlessly with Private by Default

The nature of Finicity’s services means that data privacy and security are paramount, and Fullstory’s robust privacy controls make it a great fit. Some analytics tools automatically capture all user text input–even for sensitive or unwanted data. Fullstory’s Private by Default setting is essentially the opposite: when enabled, Private by Default only captures text that’s specifically allowlisted, effectively minimizing risk of collecting unnecessary or private end-user data.

Move away from a traditional product analytics tool

When Finicity first implemented Fullstory, they planned on using it primarily as a session replay tool to augment their existing analytics solution. However, Finicity soon realized that Fullstory’s continuously-improving data analysis capabilities met their broader requirements for improving the user experience. By focusing their analytics time and resources on Fullstory, they’re able to find and capture insights they need within a single platform.

Assess customer health at-a-glance with Fullstory Dashboards

To measure customer success, Finicity wanted the ability to perform at-a-glance health checks for each of their customer accounts. To do this, Finicity builds a templatized Fullstory Dashboard for each of their customer accounts, which allows them to see if and when a customer encounters friction, how they move through funnels, which financial institutions customers are connecting, and more.

Identify false positives in fraud detection tools

As a fintech company, Finicity has to be proactive about preventing fraudulent activity within their service. One way they do this is with a tool called CloudFlare, which blocks and flags activity that it deems fraudulent. Finicity found they were able to further improve their success in fraud detection by using Fullstory to identify false positives for fraud, improving the overall experience and successful connections.