Thinking Outside The Vault Kasasa

The technology and techniques your institution relies on to provide excellent account holder service should change with consumer demand. Today’s consumers are less and less inclined to come into the branch for service. They want to conduct their financial business using their smartphones and devices — but email only goes so far. When you use 1:1 text messaging to engage account holders in conversation, your messages get read, and their needs get met. It’s a win-win for everyone. In this episode, we talk with a special guest, Scott McArthur, Chief Revenue Officer of Statflo. Scott brings a wealth of experience and insight to this developing field. He is also passionate about helping community financial institutions leverage this technology.
 
In this episode, we discuss:           
What is 1:1 SMS (aka “texting”) communication?
Consumer demand for this type of communication.
How engagement with 1:1 SMS outperforms email by a long shot.
How a tool like Statflo can fit into your institution’s consumer experience
Why true personalization requires a conversation, not just data.
What you can do this week to move closer to using 1:1 SMS technology with your consumers.
3 things you should know before you jump into 1:1 SMS communications.
 
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They say big changes are coming to the world of digital advertising. For some folks, it feels like the beginning of an earthquake, for others just tremors like we’ve felt so many times before. Whatever 2022 holds you can bet that the winners will be the marketers who leaned into the change. In this episode, we talk with CW Warwick the VP of Consumer Marketing and Thomas Shields the VP of Marketing Enablement at Kasasa about what changes to expect in 2022 and how to create positive momentum and growth for your community financial institution.
In this episode we discuss:
Four big changes that will affect how community financial institutions market in 2022.
What first- and third-party cookie tracking really means.
How to use social media without feeling totally dependent on it.
The power of 1:1 messaging.
Ways you can use text messaging and direct mail to connect in meaningful ways with consumers.
Things you can do this week to upgrade your marketing game.
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Reaching new borrowers is extremely challenging right now. There are privately funded marketplace lenders who are targeting consumers with sleek digital experiences and competitive rates. In this episode we talk with Chris Cohen, Kasasa’s Chief Innovation Officer about ways that community financial institutions can differentiate their retail lending portfolios and win back the consumers in their backyard. You don’t need to build everything in-house when there are partners who share your values and passion for helping everyday people.
 
In this episode we discuss:
The challenges that community financial institutions are facing.
How creditworthiness has changed.
Ways that the pandemic economic situation differs from the financial crisis of 2007/2008.
What Kasasa is doing to help our clients compete.
How you can level the playing field.
Stories from Kasasa Loan borrowers and what makes them raving fans.
Action that you can take this week to help your lending team gain an edge.
 
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Everybody wants loans, and nobody wants deposits… except for the megabanks and neobanks. What do they know that community financial institutions don’t know? In part two of this two-part episode of Thinking Outside the Vault Kasasa’s Chief Research Analyst Patrick Dickson explains how community banks and credit unions can position themselves to bring in the right kind of accounts and build a very stable balance sheet. It has everything to do with your long-term strategy and your mindset.
 
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Everybody wants loans, and nobody wants deposits… except for the megabanks and neobanks. What do they know that community financial institutions don’t know? In part one of this two-part episode of Thinking Outside the Vault Kasasa’s Chief Research Analyst Patrick Dickson explains what the competition is thinking and how community financial institutions can develop a counter-strategy. It all comes down to cultivating relationships with consumers that can lead to significant growth down the road.
 
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Listen to all the episodes of Thinking Outside the Vault.

Lots of financial institutions are sweating their loan-to-deposit ratios right now. Everybody is trying to re-balance their balance sheets in 2021. There are no two ways about it, competition for loans will be fierce in the coming year and the challenges are plentiful. In this episode, Greg Schultz, a Director of Product Management at Kasasa and our resident expert on the world of lending, makes predictions about the coming year and what he thinks the winning strategies will be.
Book: The Great Good Place by Ray Oldenburg
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