Smart Checking

Some banks are responding to this new account slowdown by more frequently promoting the same free checking – driving up acquisition costs. Others are increasing inducements to just open an account (up to $100 or an iPod nano) – again driving up acquisition costs. Others are enhancing their free checking with more bank benefits to offer the “free-est” free checking - increasing account costs and diluting the value of their other checking accounts.

Smart banks are promoting a checking account that can be heard above the noise of other free checking campaigns. They are choosing StrategyCorps Smart Checking which has a different marketing message – reward customers with better than free checking if they consistently use account benefits like debit cards, online bill pay and ACH transactions.

Smart Checking outperforms “vanilla” free checking in a number of ways:

• provides a better new account acquisition rate
• generates higher average account balances
• delivers significant fee income from diversified sources, not just NSFs
• rewards customers who use “sticky” account benefits
• retains accounts better
• produces more annual revenue per account
• increases cross-sales

Like all of StrategyCorps other checking solutions, your bank will be provided with full service: advice on fit with your line-up strategy, account design, marketing assistance and implementation, sales effectiveness and customer service training, branch merchandising and tracking reports.

Smart Checking will cut through the noise of your competitors’ all too common free checking message and differentiate your account line-up to optimize acquisition, retention and profitability.

Contact us today to learn more.