Maintaining a checking account costs your institution money, and those accounts often aren’t profitable. Studies suggest checking account profitability has decreased by 50% since 2013. Are your checking accounts costing your institution money?
Our Checking Services changes that, making checking accounts a revenue generator for your institution. By adding services that consumers highly value, such as identity theft protection, you now offer a value-added solution for which consumers are willing to pay a fee.
Once your checking accounts are generating revenue for your institution, you’ll want to make sure you retain those customers. By offering valuable services that your customers appreciate, you’ll increase loyalty—and retention.
In addition to satisfying your current checking account holders, you can use your new value checking services as a tool to attract new customers. Differentiate your institution from those that offer standard checking accounts, and give consumers a reason to switch their account to you.