Trends / Personal Financial Management (PFM)

Within the Digital Banking platform, your institution can leverage a Personal Finance Management (PFM) solution offered by Narmi’s partner, MX. This tool, called Trends, provides customers with a seamless experience of viewing all their data on a single platform. When this feature is enabled, users get access to their accounts, budgets, spending, history, debts, and accounts in Narmi. Please contact your Narmi Relationship Manager to enable Trends.

Once enabled, users access Trends from Tools > Trends in the web app or More menu > Services > Trends in the mobile app. Narmi connects to MX’s API and renders the user’s financial information via iFrame. MX pulls the user's connected account details, including balances, deposits, and spending.

On the Trends page, users can view the following tabs:

• Net Worth

• Budgets

• Spending

• History

• Debts

• Accounts

Net Worth

View your net worth over 6-month, 9-month, and 1-year timeframes. Select the filter icon to choose which accounts to show. MXs pulls in all accounts, including credit cards. Credit card balances are subtracted from the user’s net worth if credit card accounts are selected in the chart.

Web

Select a month on the right side to see how their net worth has changed. These months are driven by the timeframes at the top of the chart.  

Mobile

In the mobile view, select the filter icon on the top left to select accounts. Select specific months at the bottom of the screen to view gains and losses.

Budgets

Select the Budget tab to keep track of monthly budgets. Define budgets for numerous predefined categories or custom categories. The bubble chart tracks how much the user has spent versus how much budget has been allocated to that spending category. 

Web

Below the bubble chart, the categories are rendered line by line, displaying the budget and the amount spent.  

You can add new budgets for additional categories.

Mobile

In the mobile app, view any active budgets or set them up if necessary.

Spending

Select the Spending tab to view a breakdown of spending habits over a given timeframe. Timeframes are predefined or custom, based on the user’s preference. A circular chart shows totals for each category. Select a section of the graph to view how much money was spent for each category. Totals are rendered line by line to the right of the graph for easy viewing. Toggle between Spending and Income for the given timeframe.  

Web

Mobile

History

Select the History tab to view monthly spending by category over time. Filter by account and hover over the category on the graph for detailed spending breakouts.

Web

Mobile

Debts

Select the Debts tab to keep track of debts. Debts can be filtered by balance, interest, or the fastest payoff. The account, balance, APR, amount due, and final payment date are shown. MX will also plot a chart of the expected debt balance over time, accounting for monthly payments.

Web

Individual Debts

Select an account in the Debts tab for a more granular breakdown. See how much money is allocated towards the principal and interest, along with the expected balance after a payment is received. Select the Details tab to see the starting balance and APR details.

Web

Mobile

Snowball Method

MX also offers a feature called the Snowball Method. The Snowball Method helps you pay off multiple debts quickly by paying the same combined amount every month. When you’ve paid off the highest-priority debt, take that debt’s monthly payment and put it toward your next debt. The monthly total you pay for all debts remains the same.

Hide Accounts from Debts

To hide an account from the Debts tab, select the three dots > Hide from debts. To completely hide an account from Trends, go to Hide/Unhide Accounts.

Web

Mobile

Accounts

The Accounts tab allows you to see your connected institutions, connect to additional financial institutions, or disconnect institutions.

Connect an Institution

To connect a new institution and share all its accounts with Trends:

1. In the Accounts tab, select the plus sign.
   

   
   

2. Search for an institution by entering at least two characters in the Search box.
   

3. Select your institution from the results that appear.
   

4. Enter your login credentials and select Continue.
   

   
   

5. Once connected, select Done on the success dialog.
   

Disconnect an Institution

To disconnect an institution and stop sharing all its accounts with Trends:

1. In the Accounts tab, select the connected institution on the left sidebar, then select Disconnect this institution.
   
   

2. Optionally, select a reason for the disconnection and select Disconnect.
   

Hide/Unhide Accounts

Note: You cannot disconnect individual accounts from Trends, but you can hide or unhide them. To hide accounts from the Debts tab only, go to Hide Accounts from Debts.

To hide/unhide specific accounts from Trends while keeping the institution connected:

1. In the Accounts tab, select the connected institution on the left sidebar, then select the account you want to hide or unhide.
   

2. Three options appear:

   • Show this account – Select the toggle to hide the account and select again to unhide the account

   • Merge duplicate accounts – Select to merge accounts that show up more than once in Trends

   • Mark as closed – Select to set the account’s balance to $0 and keep transaction history

   

Communication Between Narmi and MX

If the user’s segment has access to MX trends, every time Narmi imports a transaction from the core banking system, Narmi passes this transaction information to MX. If the user or account does not exist in MX, those will be created automatically. The exact timing for when Narmi imports a transaction from the core depends on several factors, including:

• If the core banking integration has any type of events service

• If the end-user has an alert configured

• How frequent historical transactions in that account have been over time

If Narmi tries to update a user, but the account is no longer returned by the core banking system (i.e., the user lost access or the account is closed), Narmi will delete that account and subsequent transactions from MX.

However, Narmi will never delete a user from MX. This is because a user can be locked or archived in Narmi temporarily. Deleting the user from MX would eliminate all the linked external accounts and custom data the user entered.

End-User Counts in Narmi vs. MX

The number of users in the Narmi DB (digital banking) platform will NOT always equal the number of users of PFM in MX. This is due to several reasons:

1. Locked or Archived users in Narmi

   • Users can be temporarily locked or archived in Narmi. Deleting these users from MX would remove all of the linked external accounts and custom data the user would have entered. If the locked/archived user is reactivated in Narmi, that user will not have any linked external accounts or custom data available.

2. DB segments not having access to PFM in MX

   • If the segment that an end-user belongs to does not have access to PFM in MX, they will not have an MX account. They would be counted as a user in the Narmi platform but not MX. Learn more about segmentation here.

3. Some DB end-users will not have accounts or transactions

   • If there are end-users in the DB platform that only have a profile created, but not accounts or transactions, their info will not be imported to MX from Narmi. They would be counted as a user in the Narmi platform but not MX.

4. MX was turned on after go-live

   • If your FI turned PFM in MX on after the DB go-live, not all DB users would have been imported from Narmi to MX. An MX account for those users will only be created once they have transacted on the new Narmi DB platform.