Pub 10 2021 Issue 2

14 Make Customer Engagement Your Priority F or two decades, StrategyCorps has equipped Kansas bankers and their colleagues across the country with the power to be present in the lives of modern consumers living, banking, and searching for value in a fast-paced, digital world. Company leaders say StrategyCorps’ continued success has come due to a consistent focus on three things: market-driven knowledge, product innovation and service intensity. One key has been its ability to help banks generate relevant replacement fee income when checking-related net interest income, interchange income and overdraft revenue trended down. While net interest margins are being tightly squeezed, debit card interchange (nearly 30% of non-interest income) growth continues to be challenged and quality loan production remains questionable. StrategyCorps’ solutions generate, on average, $500,000 of new revenue per billion of assets for its clients — even during the pandemic — to provide much- needed relief. “We conduct our own industry research at StrategyCorps, which gives us the ability to understand what consumers want in checking products,” said StrategyCorps regional director Chris Garrelts. “This allows us to create and deliver modern solutions that boost the bottom line and increase customer engagement and satisfaction.” StrategyCorps’ accomplishments in helping banks build real, lasting relationships with their customers are made possible through two retail checking solutions: CheckingScore and BaZing. Actionable Analytics to Design and Build Your Lineup CheckingScore delivers a detailed analysis of every household to optimize a bank’s retail checking performance, helping them answer questions like these: • Which specific checking relationships are contributing the most to your bottom line? Which ones aren’t? • Which ones consider you their primary banking institution, and which ones are likely banking elsewhere? • Where are the specific opportunities for lineup simplification, pricing changes and product improvements? • What are the prescriptive action steps and product pathing to realize these opportunities? What are the financial returns? This allows bank leaders to see what’s working and not working financially in their current checking portfolio and to determine what’s missing from their current checking products to better engage, acquire and retain customers.