How Virgin Money built a central command center for businesses

About Virgin Money

A full-service digital bank

Virgin Money is committed to making its 6.5 million retail and business customers ‘happier about money’. The digital bank launched Project Omega in 2020, a program designed to support businesses in new and disruptive ways using data and insights. Discover how Virgin Money is achieving this goal with the creation of M-Track, a hub for business financial management, powered by Codat.

The problem

Creating robust integrations on a deadline

Virgin Money’s M-Track solution is designed to help businesses make more informed decisions by pulling together all their data in one handy place, so they can get a better view of their business. Achieving this required Virgin Money to develop extensive connectivity with the many systems businesses use, from accounts to HR and eCommerce to social media platforms. To power the capability to allow businesses to do this, Virgin Money chose to work with Codat rather than trying to tackle this challenge alone.

“We knew it would be incredibly difficult to deliver what we wanted within our timescales. So, we decided to work with some best-in-class fintechs like Codat to help us deliver key components of the solution.”

- Chris Johnson, Product Lead at Virgin Money

Data is siloed across many different systems

To drive uptake of M-Track, Virgin Money needed a provider that could integrate seamlessly with a wide variety of its customers' existing platforms.

Achieving depth of coverage is a challenge

Coverage isn’t just about accessing data but accessing the right data. To provide the depth of insight to make M-Track most valuable to businesses, Virgin Money needed a solution to cover many different endpoints & data types.

Building integrations requires expertise and resources

Without the right provider, the depth and breadth of the integrations required threatened to delay the launch of M-Track altogether.

The solution

Data connectivity made simple

Virgin Money uses Codat to enable its customers to connect their various applications to M-Track securely so that they can get a holistic view of their financial performance in a matter of minutes.

“We chose Codat because we were really impressed by both the simplicity and their ambition. Being able to connect our customers with so many of their software applications in a simple and standard way is brilliant.”

- Chris Johnson, Product Lead at Virgin Money

Experts in data connectivity

Trusted by many leading financial institutions and fintechs around the world, the Virgin Money team felt confident that Codat could solve its integration challenges.

Accelerated product roadmap

By eliminating a time-consuming and costly in-house build, Virgin Money could expedite the launch of the M-Track dashboard.

Integrations without the headaches

Codat takes care of the technical complexity of integrations and all ongoing maintenance leaving Virgin Money free to focus on what it does best - making customers happier about money.

The outcome

Delivering automated financial wellness solutions for businesses

“Codat was instrumental in helping us deliver M-Track. Together we’ve been able to deliver a feature-rich product that connects customer data, helps businesses get a view of their cash flow, and helps them plan for the future.”

- Chris Atkinson, Head of Channel Performance and Optimisation at Virgin Money

Key results

  • An integrated product delivered rapidly
  • Enthusiastic adoption of M-Track since launch
  • Customers get a holistic view of their financial health in minutes
  • Virgin Money can improve relationships and increase the lifetime value of customers

How it works

Dataflow 3

One integration, many connections

Virgin Money’s customers connect accounting and commerce platforms like Xero, QuickBooks, Shopify, and more via Codat.

Clock check

No technical complexity

Codat sorts, converts, rewrites, and maps the data to a standardized format, so Virgin Money doesn’t have to.

Bar-line chart

Crucial performance insights

Virgin Money uses the data to surface powerful dashboards and forecasts to its business customers so they can gain a holistic picture of their financial health.

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