May 30 2008

Blueprints for Innovation: MatriMoney

Report  
Number  
163

This brief looks at the long-term benefits of MatriMoney, a wedding cash gift registry.

Maureen M. Maddox
Drivers - i3 Implementation
Kent Sugg
Drivers - i3 Implementation
Report Number 163

Executive Summary

At year-end, 2007, there were 23 innovations in the i3portfolio. One—MatriMoney®—has had the benefit of long-term implementation tracking. From this tracking we know that MatriMoney has experienced sustained creditunion and consumer interest. We also know that MatriMoney programs have had mixed success—some have thrived and others have not met credit union expectations.

What is the research about?

What can we learn from these experiences? What are credit union predictive best practices? How can we apply these to further develop MatriMoney and offer the greatest probability of success? This Blueprint Brief seeks to answer those questions by reporting on MatriMoney implementation experiences in U.S. credit unions.

What are the credit union implications?

Some of the key learnings and take-aways from this projects include:

  • Incorporate MatriMoney as part of a strategy to achieve a broader credit union objective, such as outreach to Gen Y or first-time homebuyer program.
  • Align MatriMoney with other products for greater organizational focus. 
  • Quantify MatriMoney’s financial value to your credit union—understand and demonstrate its P&L impact. 
  • Set product objectives; track and report to those metrics. Refine your marketing approach based on results. 
  • Make implementation easy and fun for your credit union’s employees. 
  • Make using MatriMoney easy for your members and gift-giving non-members.