It’s Time to Get Beyond Basic Banking
By Gregg Early
Few people get excited about basic banking - paying bills, managing account balances.
However there is a way to augment these mundane banking functions by extending lifestyle-based banking features so that FIs can help consumers save money when they need to spend it.
Doing this offers a unique level of value that connects FIs to their customers or members' lives more directly and differentiates from the basic banking features offered by nearly every competing FI.
Be a Financial First Responder
We’re excited to lead this trend in financial services. Creating value for your customers and members isn’t all about just the fastest and most convenient way to bank at the lowest fees and the highest rates.
Our recent consumer research shows many people are also very focused on products that help them control their financial lives beyond what a routine checking account provides. It’s about connection – tangibly helping them save money on everyday purchases and protecting important things they need in their daily lives outside of basic banking.
That’s precisely why we’ve built our BaZing checking program.
The goal of BaZing is for you to be financial first responders for your customers and members by giving them the tools to help manage more of their financial life than just deposits, withdrawals, and payments, all in one convenient place - their checking account
For the FI, being the financial first responder extends the customer/member relationship. This means building more and stronger primary accounts that are more financially productive in terms of more relationships (deposit and loan) and increasing non-interest income in the form of customer-friendly subscription fees and increased interchange income.
As important, for customers and members, BaZing offers the opportunity to have significant and unique advantages that they can use and experience in life’s everyday transactions and financial activities.
Features People Want…and Need
For example, say a customer/member is stranded on the highway and needs a tow. Where do they turn for help? How relevant would your FI be if they could easily access and use the roadside assistance that’s part of their checking account with you. With BaZing, help is right there. A AAA experience without being a AAA member!
And that’s the whole point of all the features we’ve curated. Be the financial first responder beyond just basic banking needs. Here’s are some of the features BaZing can bring to your customers/members:
Local and National Shopping Discounts
Unique deals at more than 400,000 local stores and national chains.
Travel and Entertainment Discounts
Saving money on airlines, hotels, and rental cars takes some of the anxiety out of traveling. Plus, enjoy theme parks like DisneyLand with discounts that aren’t Mickey Mouse.
Fuel Discounts
Everybody wants the cheapest gas price in town. BaZing Fuel provides a consistent, material discount on fuel purchases.
Credit/Identity Monitoring and Credit Score
Get the edge on the cyber criminals with best in class tools and info to help customers and members make better decisions as they manage their financial health.
Buyer’s Protection
Don’t you hate it when something breaks and the warranty expired last week? Extended warranties on products, along with buyer’s protection, ensures every dollar matters and is protected when you buy stuff.
Identity Theft Assistance
Sometimes, despite the best efforts, the cyber criminals get through. When that happens, your FI has your customer’s/member’s back in recovering from an incident and restoring a secure identity.
Bill Negotiation
Everyone has bills - mobile service, subscriptions, etc. - they pay where they know there’s a better deal out there, but there’s never enough time to seek it out and change providers. BaZing’s bill negotiation services ensures clients are getting the best deal available for monthly expenses and reducing costs of services they no longer need or have duplicated.
These BaZing benefits represent how we’re working to bring the best products to your customers and members and help make your FI even more of a hub of not just their financial lives but their lives in day-to-day activities beyond banking.
Imagine being able to positively impact your customers/members with your traditional banking services combined with the non-traditional banking services that BaZing brings. You’ll help your clients save money, provide protection, and help them build their dreams of living their best financial life.
If you’re interested in finding out more, visit us here. We’d love to share how BaZing can help you bring your financial life in one place to reality.
Gregg Early is a financial writer and editor who's worked as a journalist for American Banker, Bond Buyer, and others covering the SEC, MSRB, Supreme Court, and various Congressional finance committees. His expertise is fintech, emerging technologies, biotech, ESG, green tech, cryptocurrencies and derivatives. His work has been featured on CNBC, CNN, and Bloomberg, as well as in The New York Times, Washington Post, Wall Street Journal, and Businessweek. Contact him at gregg.early@strategycorps.com.