Recent regulatory reform has caused banks and credit unions to encounter an uphill
battle to maintain, much less grow,
non-interest income. Overdraft fee income has become an uncertainty and many banks
and credit unions are projecting a significant decrease in non-interest income.
As a result, most large banks have decided to raise fees on checking accounts and
there is talk that the days of "free checking" are gone. For community-based financial
institutions, eliminating such products may result in turnover as account holders
will have no sympathy for community institutions if they raise fees, and will force
customers to seek the best value they can find.
So, how can institutions increase non-interest income and still provide value to
their account holders? CustomerStream has developed a proven approach in a product
CardCashTM-a product designed to differentiate community financial institutions
from their competition without having to increase checking account fees.
CardCashTM is an innovative new product that can replace lost fee income
from NSFs by optimizing debit card activation and usage. Different from standard
community financial institution debit programs, it improves value-added service
to account holders through a cash-back program applied to non-PIN debit card purchases.
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