The Power of
Great Checking
Greater household deposit and loan relationships, more fee income, increased satisfaction and stellar new account growth.
Today's Checking Battle
It’s more important than ever that your retail checking line-up and products optimally perform in terms of financial performance and user experience. Why?
- Net interest margins are being tightly squeezed (a ten basis point slippage in net interest margin means $1 million in lost revenue per billion of assets)
- Debit card interchange (nearly 30% of non-interest income) is experiencing a major decline and hit to revenue from just the spending drop alone
- Quality loan production (after the PPP loans are completed and roll off the balance sheet) is questionable
- User experience with mobile and online banking is more critical in a consumer's decision where to primarily bank and the megabanks are clearly in the lead (spending billions on digital banking and continuing to spend to widen this user experience gap and on marketing to steal your customers/members)
Winning the Checking Battle
Winning the battle requires your financial institution's checking line-up to be weaponized. You must have a prescriptive, actionable analysis of what’s working and not working financially in your current checking portfolio and what’s missing from your current checking products to better engage, acquire and retain customers/members.
Only then are you able to make fully-informed decisions about exactly how to arm your checking line-up with products that have:
- Great revenue production to generate acceptable financial returns
- Meaningful product difference and superior consumer appeal to compete and beat the megabanks
- Simplicity and real value that’s easy to understand, buy, and sell
This is exactly what StrategyCorps does - generating, on average, $500,000 of new revenue per billion of assets, and delivering checking products consumers are demanding and your competition isn't delivering.
Solutions
CheckingScore
Analytics with an Action Plan
Identify and benchmark your current checking performance. Implement an actionable strategy to protect and grow the most financially productive relationships and fix and grow the ones that are dragging down your financial institution’s earnings.
BaZing
Monetizing Mobile with Friendly Revenue
Generate more customer and member friendly revenue with a white-label mobile rewards app delivering modern, innovative checking benefits that consumers want and need in their everyday lives and are market proven to be more engaging.
Thought Leadership
Featured Market Research
Accessorizing The Checking Account
Building on our earlier research, Reinventing Checking Accounts (also by Cornerstone Advisors), this white paper focuses on consumers and their specific preferences about financial banks and credit unions as well as what specific rewards consumers want from their checking relationship.
Upcoming Webinar
Accessorizing The Checking Account
The report’s author, Ron Shevlin, Director of Research at Cornerstone, will be presenting this webinar with thought-provoking commentary and observations. If you’ve ever heard Ron speak at any banking association or industry group conferences, you know he’s a can’t miss presenter with brilliant insight on consumer behavior and banking.