Brentwood, Tennessee – (The Hosting News) – May 11, 2007 – Financial institution web hosting and design technology solutions firm, Goldleaf Financial Solutions, Inc., after being selected by Capital Bank and Trust, assisted in the Bank’s acquisition of over 600 new accounts.
The Nashville, Tennessee-based Capital Bank and Trust began the program in September 2006, which it has reported has resulted in approximately $1.0 million in new deposits. As part of its strategic focus, the bank was actively seeking solutions that would grow its core deposits. With many competitors in the market offering incentives to customers who opened a new account, Capital Bank and Trust began looking for a similar plan that would allow the bank to differentiate itself.
After a detailed review of account origination programs, the bank selected Goldleaf’s checking acquisition program. Goldleaf identified the areas for growth and worked with Capital Bank and Trust to create targeted direct mail pieces complemented by optimal incentives to generate interest. Based on market research, the bank used a premium gift as the incentive to encourage customers to open a new account.
Stratton Huggins, Assistant Vice President of Capital Bank and Trust remarked, ”Knowing our customers is what we do best. We pride ourselves on knowing not only our customers’ names, but also understanding their needs from a financial institution. Part of that is providing products and services that our customers want. Working with Goldleaf, that is precisely what we were able to accomplish. We advanced the bank’s strategy of increasing core deposits, while still exceeding our goals of acquiring new customers and maintaining our good hometown appeal. In four months we acquired 605 accounts. Based on our success rate thus far, the bank hopes that number will double by September 2007.”
Jennifer Napolitano, Director of Product Development for Goldleaf Financial Solutions added, ”In our experience, success is largely affected by how involved executive management is when launching a new product or service.”
Lynn Boggs, CEO of Goldleaf Financial Solutions offered, ”Capital Bank and Trust’s executive management assisted in driving the checking acquisition program. The bank’s results are a testament to their success. Financial institutions are focused on growing core deposits. Goldleaf has created a suite of solutions geared toward helping financial institutions achieve that goal, from remote deposit to checking acquisition programs. We design our products to maximize an institution’s return on investment by providing ways to acquire low-cost deposits through a variety of product offerings.”
Goldleaf Financial Solutions, Inc. (GFSI) offers a product suite that provides core data processing, item processing and check imaging, ACH origination and processing, remote check capture and deposit processing, accounts receivable financing solutions, a teller automation system, turn-key leasing solutions, financial institution website design and hosting and retail inventory management services. Goldleaf believes its suite of products and services allows financial institutions and small to medium-sized business customers to compete more effectively in today’s aggressive financial services marketplace, to grow trusted financial relationships and to enhance profitability through the efficient use of technology and an expanded community presence.
To learn more about Goldleaf Financial Solutions, please visit: www.goldleaf.com.