How to Use the Recommendation Engine in COACH

Many people thought fintech was a fad and would go away but look at it now– here to stay! 

So, as financial coaches, we too must embrace the reality that fintech and finances are and will continue to be inseparable. How do we know that the fintech products we recommend to our customers are equitable and will actually help them achieve their financial goals? That’s where Change Machine’s Recommendation Engine feature in COACH comes in. 

The Recommendation Engine houses all of our fintech partners who have created safe and inclusive products. All of these products have passed our Seal of Inclusivity– the gatekeeper of equity in the fintech space– that ensures the product builds financial security, is fairly priced and accessible, and that the company is transparent with their business practices. You can rest assured that any product that is recommended will help your customers achieve their financial goals.

If you are struggling with using the Recommendation Engine please utilize the guide below to learn more about best practices of talking to your customers about fintech.

Before the Coaching Session:

1. Take a survey of the customer’s access to technology – do they have a smartphone, laptop or tablet?
2. Review the Matched Products and their Features in the Recommendation Engine
3. Download and send the Product Descriptions and Features via email to the customer

During the Coaching Session:

1. Share your screen with the customer so they can see your walkthrough of the COACH platform
2. Talk through the Product Description and Features of each product with the customer
3. For customers who struggle with technology or fintech:
   1. Acknowledge that financial education and technology education should have been taught historically
   2. Reassure customer that fintech is part of being financially capable and overcoming any financial hurdles
   3. See what they know and fill in the gaps with what they don’t
   4. Align specific financial goals with specific fintech products
4. Provide any resources from the product website around signing up (instructions, videos, etc.)

After the Coaching Session:

1. Select the “Matched Product” button once you have completed the coaching conversation with the customer
2. Follow up with the customer in the next session
   1. Ask the customer how the sign up process was 
   2. Ask the customer how using the product has been
   3. Encourage the customer to continue using the product in order to see if it makes a difference in their finances
   4. Continue to align the product with the customer’s financial goals
3. Continue to check the Recommendation Engine for new products as you input more customer data as the Engine will continually update itself with new recommendations