Financial institutions looking to expand and diversify their revenue streams and increase fee income should look to implement more creative and data driven debit strategies to achieve higher income growth. Consider:
- Are you meeting your growth goals for debit interchange income? If not, do you know why? Could your goals be more ambitious?
- Are current processes or procedures inhibiting debit growth?
- How could select improvements boost your bottom line?
- Are you leveraging debit to strengthen customer relationships?
Backed by experienceMany issuers lack the resources, data, and analytical tools to optimize debit.
Combining our payments experience with analytical tools and benchmark data, we help financial institutions analyze and implement programs to increase income, decrease costs, and drive greater engagement.
Benchmarking diagnosticOur team uses a range of diagnostic tools to assess current performance and processes and identify growth opportunities.
- Review debit penetration, activation, and usage data
- Evaluate key metrics against industry benchmarks of your peers
- Review card acquisition and other processes, as well as marketing and communication materials
Predictive/Prescriptive analyticsIn addition, we can execute more complex analysis of the data to:
- Segment payment behavior
- Analyze spending patterns
- Develop models to predict behavior
- Deliver and implement higher impact customer strategies and marketing programs to capture full debit potential
From these analyses, we identify potential improvements and incremental growth opportunities to:
- Increase card penetration, activation rates and usage
- Streamline process bottlenecks
- Decrease account attrition
- Reduce expenses
- Improve reporting capabilities