In the last decade, the popularity of the “free” checking account has had a significant impact on the financial industry. Consumers today hold an average of 3 checking accounts per household, yet the bulk of their daily transactions come through one “primary account.”
Because of this, the industry has created a new segment of consumers – labeled “non-users” – to describe the accounts that have little or no transaction activity. And, the distinction of a consumer’s primary financial institution has shifted from “where I have my checking account” to “where I do the bulk of my transactions”.
The fact is: Transacting Checking Accounts are the only profitable checking accounts.
Our Account Revenue Solution™ is a turnkey solution that utilizes powerful analytics and segmentation to generate more checking account activity from your existing accountholders by simply converting unprofitable accounts into revenue producing accounts.
Most financial institutions do not realize that more than 75% of their non-interest income is generated by less than 20% of their checking accounts. This small set of accounts represents the true revenue-producing group. Our proprietary strategies double, and in some cases, triple the size of this group by converting your existing non-users and light users into heavy account users.