Community banks can use transaction data insights to personalize their outreach by, for example, nudging customers to capitalize on unused checking funds with relevant savings options.
Timely, tailored communication enhances conversion rates, while providing financial guidance builds trust, in turn boosting app engagement and the opening of new accounts.
Insights from enriched transaction data enable community banks to pinpoint demand for new offerings.
If a bank uncovered a trend of clients opting for competitor savings accounts, for example, it could launch a competitive savings product to attract switchers and engage potential savers proactively.
Strategic responses to consumer behavior allow community banks to increase deposits and deliver on their commitment to customer-centric service.
By proactively engaging customers with relevant offers that align with their usage patterns, banks can enhance satisfaction and grow their deposit portfolios through strategic upselling and cross-selling.
Data analysis can identify these opportunities as trends and patterns at customer base level. Cohort insights can then be used to create richly-targeted segments for high impact marketing that increases deposits and wallet share.
Add customer context to transactional data so that you can offer the right product at the right time, and tailor messaging to maximize conversion and loyalty.
Deliver financial health and wellbeing features that support each individual's unique goals and improve their financial position for increased lifetime value.
How Bud is empowering community banks to drive deposit growth and empower customers to manage their finances more effectively with data-driven insights.
