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Independent Community Bankers of America ICBA logo
  1. Community Bank Home
  2. Support customers' health
  3. Drive deposit growth

Support customers' financial health

With their mission-driven approach, community banks like yours are uniquely positioned to make a significant impact on the financial health and wellbeing of their customers.

By using enriched customer transaction data, community banks can provide targeted, personalized advice or product offerings to those who need them the most.

Only 20% of community bank apps have some form of money management feature, versus 90% of national bank apps.

Bud research reviewing 50 community banks and 10 national banks.

14% of community bank apps offer basic transaction categorization, versus 80% of national bank apps.

Bud research reviewing 50 community banks and 10 national banks.

Help customers understand their transactions

By identifying merchants and accurately categorizing transactions, community banks can help their customers more fully understand their spending. In doing so, banks can both reduce the number of disputed transactions and shed light on expenditure trends.

Transaction data analysis can also enable customers to identify unnecessary subscriptions, paving the way for potential savings that can boost financial stability over time.

Watch our webinar
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Break the paycheck-to-paycheck cycle

Transactional insights enable banks to identify customers’ spending patterns and provide guidance such as budgeting tools or savings incentives. This support helps customers to build a financial buffer and lessens reliance on credit.

Additionally, analyzing transaction data allows banks to forecast customers' future financial obligations, providing a heads-up to prepare for impending expenses and avoid late payments.

Watch our webinar
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Prevent defaults

Banks can proactively help customers facing financial challenges by analyzing transaction patterns, leading to preemptive support that helps avoid defaults.

For delinquent accounts, this data can inform tailored repayment plans to accommodate the customer’s unique financial circumstances, potentially avoiding the collections process.

Watch our webinar
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Your community bank toolkit

Independent Banker Logo
On-demand Webinar

Driving growth in community banks: Improving customer financial health and boosting deposits using transaction data

On demand

Register to receive your very own copy of our webinar hosted by Bud's Corey Horr, in association with Independent Banker, where we delved into strategies for community banks to stimulate growth.

This session explored how leveraging transaction data can significantly improve customer financial health and ultimately lead to an increase in bank deposits.

Attendees received an understanding of practical tools and methodologies designed to harness the power of transactional insights, creating a win-win scenario for community banks and their customers.

So if you're ready to transform data into growth – sign up for on-demand access today!

(Please note: Independent Banker webinars are sponsored content and are not an endorsement by ICBA.)

Corey Horr

Corey Horr

Account Executive, Bud