Financial institutions are facing intense competition from both fintechs and traditional players, putting downward pressure on the revenue they generate from mass-market consumers.
Curinos’ new report Zelle® Usage Drives Customer Engagement explains “as digital channels become a larger source of new customers, banks find that engagement levels and revenue contribution of these customers are far lower than their existing, branch-originated counterparts.”
According to Curinos’ report, “FIs are now challenged; 40% of mass-market customers cost them more to serve than they generate in revenue.” Banks and credit unions are seeking new ways to profitably serve these customers, and real-time P2P payments solutions like Zelle® are playing an increasingly important role.
Download the latest report by Curinos and Early Warning® to learn how Zelle®can help banks and credit unions:
- Drive significantly higher levels of customer engagement, especially among low-engagement, new-to-bank and low-balance customers
- Boost profitability by an average of $25 per customer year-over-year compared to customers who don’t use Zelle®
- Increase interchange transaction volume by 5.1 additional transactions per month after 12 months - a 3x increase compared to customers that didn’t use Zelle®
Visit the Value of Zelle® page for more information.