Cornerstone Advisors and StrategyCorps Share a New Report on Addressing the Revenue Recession and Embedded Fintech Solutions for Banks and Credit Unions￼
BRENTWOOD, TN (August 3, 2022) —
In a new research report, co-created by Cornerstone Advisors’ Ron Shevlin and StrategyCorps, Creating a Fintech Revenue Engine provides compelling insights and solutions to address the revenue recession driven by declining fee income and waning interchange income.
The report is crucial for banks and credit unions hoping to remain relevant in these current fast-moving market conditions.
Beyond the current headlines, the long-term challenge for community banks and credit unions by better engaging customers and members by nurturing primary checking relationships using recurring revenue strategies.
Authors Ron Shevlin and Tristan Green explore the four key drivers of the revenue recession and why FIs can no longer depend on traditional revenue sources. They also reveal why consumers are embracing digital banks and fintech companies at the expense of primarily community FIs.
Finally Creating a Fintech Revenue Engine shares key insights into the banking products/services FIs can consider to generate much-needed new revenue.
This report is essential for banking and credit union professionals responsible for growing revenue from new sources, developing better opportunities for converting secondary customers into primary customers, and competing more effectively with fintechs, neobanks, and D2C companies.
About Cornerstone Advisors’ Authors
Ron Shevlin leads Cornerstone Advisors’ fintech research efforts and authors many of the firm’s commissioned studies. He has been a management consultant for more than 30 years for Cornerstone as well as with Aite Group, Forrester Research, and KPMG. Today, he also writes the Fintech Snark Tank column at Forbes.
Tristan Green is a director in Cornerstone Advisors’ Research and Fintech Advisory practice. He works with a wide range of industry providers, fintechs, and investors. Tristan has also been a consultant and assisted hundreds of banks and credit unions with strategic planning, M&A, digital strategy, and strategic growth initiatives.
StrategyCorps delivers its clients industry-leading gains in non-interest income generation, customer engagement and organic deposit growth through its award-winning retail checking services. Its two core products are:
CheckingScore identifies and benchmarks a bank’s current checking performance, implements an actionable strategy to protect and grow the most financially productive relationships, and increase primary relationships with single product customers.
BaZing generates revenue with customized mobile rewards that deliver modern, in-demand, innovative benefits in a subscription structure that focuses on building primacy in bank and credit union checking accounts.
For more information visit www.strategycorps.com