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BancVue Kasasa
In May, BancVue launched a national brand called Kasasa (www.Kasasa.com). Kasasa helps Community Financial Institutions rival mega banks with accounts that actually put the consumer first. Benefits include: massive interest, automatic savings, charitable giving, free iTunes, no minimum balance and ATM refunds. These accounts incentivize fee boosting, cost saving activities, beneficial to CFIs as well as consumers.
Marrying innovative products with personal service Kasasa is deserving of the Innovative Solutions Award because:
1. Efficiency and scalability. Kasasa empowers CFIs under one unified voice. Historically, CFIs have lacked the resources to compete efficiently. Through Kasasa, they benefit from customer research that drives product innovation, national branding, and large-scale media efforts. This scalability is already regaining market share for CFIs. Case study: In just 60 days of marketing Kasasa, Bank of Idaho saw a 40% increase in account openings and a 66% increase in total deposits compared to the previous year.
2. Product innovation expands capabilities. Before Kasasa, consumers assumed CFIs lacked product innovation. Now CFIs can offer consumer-first products that drive people to their institution, and increase loyalty and profitability. Instead of choosing products based on what the bank offers, consumers will now actively seek out Kasasa.
3. Engaging consumers with new choices. Kasasa’s marriage of product innovation with personal service is bringing exciting optimism back to banking. Perhaps the biggest benefit CFIs get from Kasasa is the ability to attract demographically diverse customers, even those from the mega banks.
4. Pioneering products and more. More than just accounts, Kasasa offers compliance guidance, employee training, ongoing consultation, mystery shopping, and more. Kasasa truly is the secret weapon for CFIs looking to win the war for deposits against the mega banks!
BancVuewww.bancvue.com