Choosing Between Custom Calculators and Customizable Calculators

Financial marketers may need both customizable calculators and custom calculators
Since its founding 2011, Fintactix has had the opportunity to engage with many financial marketers to discuss their need for both customizable calculators and uniquely custom calculators. As they review their calculator needs, many organizations feel they must go down the costly path of internal development. However, as we review their needs, it turns out that most of their needs can be met using a calculator platform that is highly customizable.

These calculator requirements can usually be broken down into two segments:
  1. Calculators that can be customized to provide a highly integrated design experience within the customer’s website; and
  2. Uniquely custom calculators that exactly match features of specific financial products or that can be used to fit within a specific marketing or sales program and custom consumer journey.

We will explore each of these items in this Insights feature.

Customizable Calculator Requirements

Customizable calculators can help create a seamless website experience for visitors. There are some unique features that a calculator platform can offer that can enhance their ability to provide a high experience level:

  • Customizing Styles to Provide a Seamless Design Experience

    Genuinely customizable calculators can adapt their user interface to reflect the brand and style guide requirements of the host website. They offer customizable fonts, font sizes and colors. Other elements within the calculators should present CSS design flexibility as well. The calculator should also provide a contemporary UI that reflects today’s website design standards.

  • Customizing Default Values to Match Local Markets and Defined Audiences

    Calculator inputs need to have default values that match local markets and the needs of typical users. Inputs such as sales tax rates and home purchase prices should reflect the local market. Loan information should be in line with current market conditions, the borrower's needs and loan offers.

  • Integrating Calls to Action to Drive Calculators Users to the ‘Next Step’

    Calculator users are typically in the market for a product or service or on a financial journey related to the calculator they are using. Calculators should feature links to other areas of the website that are logical next steps for these users. Links to online applications, rate tables, branch locators, contact forms and other site features can enhance the user experience.

  • Providing the Flexibility to Adapt Content to Compliance Requirements

    Many financial institutions will require their compliance organizations to review the embedded calculator content for the financial website. However, what good is such a review if the text used in the calculator cannot be updated or changed to match compliance requirements. Things such as help text, tooltips, and other text should be customizable to meet these needs.

Custom Calculators for Specific Consumer Journeys

Even the most flexible calculator platform cannot meet every customer need. Many financial institutions have unique needs, product offerings or sales approaches that may require custom development projects.

  • A Custom Product Requires a Custom Calculator

    A unique twist on a traditional bank product can sometimes create an opportunity to engage consumers in a new way. Creating a calculator that emphasizes the advantages of a particular checking or savings account or loan product, or compares one against the other, can increase conversions and are worth the investment in developing and maintaining a custom calculator.

  • Marketing Promotions and Sales Programs Can Require Custom Calculators

    Some banks and credit unions have well-funded, sophisticated lead generation and lead nurturing programs and can afford to develop and maintain custom calculators that can generate leads for specific marketing/sales programs. Typically, these types of custom calculators get fine-tuned to a particular customer financial journey. They can also be aligned with branch sales processes or used as part of online landing pages.

About Fintactix Customizable and Custom Calculators

As you explore calculator projects, keep in mind that Fintactix Financial Calculators are highly customizable. Each element of our calculator has a CSS class and ID, allowing us to customize, fonts, font sizes, styles, and colors. We can round corners, shade backgrounds, and of course, we can match color schemes down to the hex code level. Our calculators can accommodate just about any design requirement that CSS permits the calculator to blend into just about any financial website.

Ideas for custom calculators are worth exploring. If you have an idea for a calculator experience you do not believe is covered by one of our customizable calculators, schedule a meeting and let’s talk.

Schedule an Online Meeting

We would welcome the opportunity to meet with you one-on-one via Webex to discuss your financial education and/or financial calculator needs and to provide an in-depth overview of Fintactix products. If you would fill out the form below, we'll be in touch to set up a meeting at a convenient time.