Your Free Checking Is Losing Out
With emerging Fintechs and improved services from large financial institutions, your own Free Checking is losing ground. Frankly, it’s boring. And your account holders are looking for more.
It’s A Commodity
For most, free checking is simply a commodity. While “sticky” to a degree, it is easy for a cardholder to just open another account at a different institution. Then, with new switch tools, they can have their bill payments and other linked systems changed over with minimal effort. And “interest”? Even with rate increases, they’re still nothing to write home about. Checking that offers more is the future…and a recent study indicates how easy it would be for Amazon or other large Fintechs to steal your accounts.
Our Research & Findings
We were curious, so we dove deep. The result is our Free Checking White Paper, which looks at the early history of checking accounts through to who pays for them today. And, what your financial institution can do today to engage and excite accountholders.
It turns out people want more than the traditional basics from their accounts. Like ID Theft Protection. And Cell Phone Damage Insurance. And they’re willing to pay for this value.
Our research led us to a subscription (value-added) checking solution which works for over 600 financial institutions. What if you could truly help account holders and offer the best checking program available? All while generating $51* per year in net income on 80% of the accounts you have today? Year after year.
Seems like a lot, right? We thought so, too. That’s why we put together a series of Case Studies. Spoiler: The numbers work.
*Average revenue generated by portfolio 2017
Learn about this solution and determine if it might be a fit for your institution: