Why
% of new checking accounts opened at Fintechs in 2024
44%
True or False: everyone gets the rewards in Kasasa accounts
False, only those qualifying
The below cap rate on Cash
2.00%
What does FRAN stand for?
Free
Rewards
Ask to Qualify
No penalties
Saver should only be targeted to these Kasasa accounts
Every one
What can you get at a community bank that you can't at a mega or Fintech
the human connection...You
The # of POS transactions to post and settle to qualify
12
The cap on Cash
$25,000
How much in rewards has CG Bank given out?
$1,497,209
This is the primary driver for deposits
Cash
Why do community banks matter to their communities?
They put money and support back into the communities
This saves you $2/acct/mo
eStatement
Max Cash Back I can get per month
$8
What you should do when you get an objection?
Ask why. Get to the root cause before trying to give a rebuttal
This is the primary driver for NII and engagement
Cash Back
3 ways Kasasa accounts are better than others for the bank
1. Higher Avg. balance
2. More POS
3. Younger
4. Longer life-cycle
5. More products
6. Profitable
This creates stickiness
ACH
What I get if I don't qualify
Cash and Saver get 0.05%
Nothing in Cash Back
Why is Kasasa a Win-Win
Rewards consumers, and makes or saves the bank money
This is the above cap rate in both Cash and Saver
0.20%
Why can a 4% Cash account have a lower cost than a 4% CD
Breakage on the cap, only those qualifying get the 4% rate
How do you qualify in Saver
Qualify in Cash/Cash Back
Avg. balance that determines whether Cash or Cash Back is better for the consumer
$4,800
Who determines if Kasasa is successful at CG Bank
YOU
Reasons why Saver should be added to every account for the bank?
- Higher avg. balances
- More POS
- Deeper product penetration
- Stays on avg. 2-years longer