Transform Competitive Landscape for 2021 with Innovative Checking Products
Feb 11, 2021, 2:00 PM in Eastern Time
Description
Checking accounts have remained a standard part of the product offering for most financial institutions, including the credit unions. They have been the starting point for most members’ relationship with a credit union, relationship that have the potential to grow into loyal and profitable members for the credit union. Recently there has been a push for more innovation in the checking product. FIs are offering an array of checking product variations with a variety of benefits to attract and acquire new customers. The competition is fierce and for credit unions to continue to grow they need to re-invent their checking product line. In this webinar we will hear about Affinity FCU’s successful migration to a premium checking project and we will cover the following:
In this webinar, we’ll cover:
- 1. Why premium checking products are needed?
- 2. Understanding the checking landscape
- 2.1. Assess current checking portfolio
- 2.2. Perform competitor analysis
- 2.3. Build member personas
- 3. Developing new checking products
- 3.1. Analyze needs based on member personas
- 3.2. Undertake Profitability Analysis
- 3.3. Evaluate credit card cannibalization
- 4. Migrating current members to new products