Data Science + Velocity’s Intelligent Platform® 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.
- 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?
We guarantee a 2-to-1 ROI through successful early onboarding, increased transactional activity and cross-sales. However, many of our clients achieve a 3-to-1 ROI or higher!
No more wasted acquisition costs on consumers who open accounts and then disappear. The Account Revenue Solution includes an early onboarding strategy.
Engaged Account Holders
Be sure your account holders are actively transacting with your institution. Engaged account holders generate more profits for your institution.
Targeted, dynamic messaging and offers customized to specific account holder segments for increased success.
Turnkey, comprehensive solution including marketing, reward fulfillment, training and ongoing consulting.
KPI Tracking Dashboards
Our ARS program provides you with numerous graphic-rich dashboards to track KPIs such as account opening activity, incremental profit delivered by each account, comparisons of actual performance to pro forma, debit card activity and more.
Retail Best Practices
Velocity’s ARS team provides implementation, an on-site kickoff meeting, frontline training, help with creating or improving a sales culture for your employees, marketing, operations/delivery and reporting.
The megabanks are opening exponentially more accounts than regional banks, credit unions and community banks. Download our free white paper to learn why “Reacquisition” should be your 2021 strategy!
Watch the on-demand replay of this Webinar presented by Cornerstone Advisors and Velocity Solutions. You’ll learn what drives consumer engagement, what defines engagement and discover the Reacquisition Imperative.
Learn the industry’s best kept secret for boosting performance at each stage of the checking account life cycle, from onboarding to retention. This solution has proven time and again to deliver a 3 to 1 ROI or higher!