GBA Endorses StrategyCorps’ Award-Winning Retail Checking Services
In 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 bank's checking line-up to be targeted. 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.