Kasasa may be the single most important thing to happen to small banks since deregulation.
Built specifically for community financial institutions to win back market share from the mega-banks, Kasasa is a national brand of innovative banking accounts and personal financial management tools. With a compelling brand image, world-class advertising and broad media exposure, the power of Kasasa has produced a seismic shift in the industry: The nationís community banks are rallying together under a new banking brand and going head-to-head with the mega-banks.
Kasasa works because it actually rewards consumers for their business with what interests them most ó high interest, cash back, automatic savings, money to donate to charity or digital music downloads. Combined with the personal service that only community banks can deliver, this entirely new way of banking is offering consumers a distinct contrast to the typical mega-bank experience.
Among all the nationís great brands, Kasasa in particular warrants an Innovative Solutions Award for these reasons:
1. Kasasa creates revenue. With community banks battling to stay in the black, Kasasa accounts have generated an astonishing $41 million in non-interest income for its partner firms.
2. Kasasa drives new relationships. Since its launch, more than 250,000 Kasasa-branded accounts have been opened.
3. Kasasa increases customer retention. Kasasa is designed to drive cross sales and increase customer loyalty.
4. Kasasa creates scale. If all the Kasasa branches acted as a single financial institution, the network would rank 17th in branch network size ó empowering community banks to secure more ad buys and bigger ad buys without increasing marketing spend.
Enhanced in March of this year, Kasasa has grown to have a presence in 38 states, over 700 branch locations and 130 financial institutions. Kasasa has literally changed the way these individual community banks do business as it redefines the banking industry.