AUSTIN, Texas--(BUSINESS WIRE)--Kasasa®, formerly BancVue, an award-winning financial technology and marketing provider, announced an updated service to identify ways for Kasasa community financial institutions (CFIs) to increase noninterest income, decrease costs and increase accountholder engagement using Retail Portfolio Optimization (RPO).
RPO provides CFIs with a comprehensive strategy that maximizes the profitability and utility of every account by analyzing account data to encourage e-statement adoption and boost debit card usage. Through this analysis, Kasasa delivers customized recommendations to its institution clients to increase noninterest income and consumer engagement by introducing accounts such as InControl CheckingTM, a checking account that allows consumers to have their monthly service fee reduced or waived if they meet qualifying criteria. This strategy enables institutions to take dormant, unengaged accountholders and drive more transactional behavior, boost technology adoption and support cross selling of services.
“Community financial institutions are racing to increase their bottom line, whether through new services or new revenue streams,” said Gabe Krajicek, CEO of Kasasa. “With RPO, Kasasa institutions receive a comprehensive analysis and strategy that identifies how they can increase their noninterest income and profitability by introducing fee-based accounts rewarding consumers for certain behaviors. In turn, the CFI not only increases consumer engagement, but also reduces overall costs.”
In addition to providing an analysis of an institution’s accounts, Kasasa offers product design insights to provide each institution with data driven decision-making tools, and marketing and communication materials, such as 30-day disclosure sample language, email notification campaigns, online product pages and take-one brochures to ensure accountholders are aware of changes. Kasasa provides ongoing tracking and consultation of performance for all InControl checking accounts. It also provides frontline staff with access to learning portals, comprehensive FAQs and access to Kasasa training teams to address any questions that may arise.
Through premium checking and savings accounts providing consumer rewards, Kasasa enables community financial institutions to successfully drive new account growth, encourage accountholder engagement, increase profitability and compete with megabanks. More than 700 community banks and credit unions across all 50 states, Washington, D.C. and Guam offer Kasasa products. The company was also named to the 2015 FinTech Forward 100 list of leading financial technology providers in the world.
Kasasa®, formerly BancVue®, is the innovative leader in branded, community-powered banking products proven to drive profit and growth for community financial institutions. With unprecedented access to training, compliance, research, support resources and customized consulting, Kasasa’s flagship suite provides a research-based strategy leveraging the power of a branded relationship platform. Kasasa is making community financial institutions the topic of conversation for happy consumers nationwide. For more information, please visit www.kasasa.com, or visit them on Twitter @Kasasa, @KasasaNews, Facebook, or LinkedIn.