Uses Analytics and Segmentation to Drive Consumer Engagement and Revenue
Your financial institution is spending considerable money on account acquisition. And it appears to be working – you’re seeing steady growth in your account base. So why aren’t you seeing comparable growth in your revenue numbers? Once you take a careful look at your new account activity, you might find that a good percentage of these new account holders never fully onboarded with you. A successfully onboarded account holder will generate more deposit activity, use more products and services with your institution, transact more heavily and stay with you longer.
Research has proven that the level of engagement closely correlates with the profitability of checking accounts. But your account holders won’t generate profitable activity until they’re fully onboarded and committed to your bank or credit union as their primary financial institution. Using a combination of data science, analytics and flexible creative strategies, the Account Revenue Solution® (ARS) program helps financial institutions improve performance at each stage of the checking account life cycle.
What If...
- You had a strategy to increase the onboarding rate of newly opened accounts?
- You could boost transactional activity of even the most inactive accounts?
- Such a program could deliver a 3-to-1 ROI or greater, with a guaranteed 2-to-1 ROI?