|CRM based on transactions|
Saylent’s Account360—via targeted reward programs—can help boost deposits, drive profitable customer relationships, minimize attrition to competitors, and increase revenue.
Saylent Technologies unveils payment intelligence solution to help financial institutions attract
and grow accounts
Financial institutions have a wealth of customer transaction data trapped within their existing legacy systems and no way of centralizing and analyzing that information to easily determine which customers are profitable for the organization and how to reward those customers for their loyalty.
Saylent created Account360 to help financial institutions discover patterns in customers’ payment behaviors and use that insight to grow their accounts into more profitable relationships. Rather than viewing their offerings from a siloed perspective, banks and credit unions can now adopt a more customer-centric view across all account types and the full payment spectrum – checks, debit cards, online bill pay, ACH, teller, etc. – and implement sophisticated segmentation strategies and targeted incentives, including high-interest checking, points and reward programs, to attract and keep customers. Account360 also includes the tools to measure the impact of these programs.
“Today’s market conditions have heightened the need for financial institutions to focus on maintaining – and increasing—core deposits and solidifying customer relationships,” said Tyson Nargassans, president, Saylent Technologies. “With amplified competition from banks as well as from nontraditional competitors offering interest-bearing checking accounts, debit cards, and rewards programs, financial institutions need a clear understanding of their customers and their transaction activities, and the tools to ensure they are securing and retaining profitable accounts.”
The first Account360 component focuses on delivering comprehensive reward programs for checking and savings accounts, including high-interest checking, cash rewards and points. Unlike narrow reward solutions, Account360 enables banks to analyze and segment their customer base, implement targeted checking and savings incentives, and track and measure the effectiveness of these programs to ensure they are increasing the number of customers, account usage and revenue.
Saylent is also offering specialized consulting services to help banks optimize Saylent’s Account360 and Card360 solutions so they are most effectively capturing, analyzing and understanding payment activity and using that knowledge to drive more profitable customer relationships.
“For some time now, financial institution CEOs have ranked securing organic growth by attracting and retaining loyal customers as a top priority. Today that goal is the same, but with a greater emphasis on making those customer relationships more profitable through targeted initiatives,” added Nargassans. “Building on our success with our Card360 product, we are now offering banks and credit unions a broader, account-centric application that delivers detailed insights on the account, its owner and transaction activity it generates. With this knowledge, banks can offer cost-effective rewards programs that are beneficial to the customers while encouraging them to make more profitable payment and relationship decisions for the institution.”
Account360 is a payment intelligence solution, a new category of software combining features of customer relationship management (CRM), business intelligence, marketing customer information file (MCIF) systems and rewards programs. This focused offering is designed to empower the financial institution business manager with insights and actions to increase customers, usage and profitability.
About Saylent Technologies
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