BSG Financial Group Helps Optimize Bank's Overdraft Program Through Consultative Partnership

Posted by Michele Rehm, Marketing Manager on Mar 15, 2016 7:00:00 AM

STAR Financial Bank Success StoryIn April, 2014 BSG Financial Group helped STAR Financial Bank “re-launch” its overdraft privilege service, having previously offered a competitive vendor’s program since 2002. Patrick Burch, vice president, deposit administration officer, joined STAR Financial soon after the implementation was complete and has since been responsible for managing the service, optimizing its performance.

In his 17-year banking career, Burch has seen service providers come and go, but he has never encountered one like BSG Financial Group. “They’ve done things I’ve never seen other vendors do,” said Burch. “We’re in a relationship… a strong relationship.” 

When asked what sets BSG Financial Group apart from other vendors, Burch quickly replied, “Once the contract is signed, the service doesn’t stop.” Burch gave several examples of how BSG Financial Group has helped optimize the overdraft service, including:

  • Continuously monitoring the bank's overdraft data
  • Proactively alerting the bank to any trends that could be improved and suggesting solutions
  • Providing an established set of best practices for the bank to follow
  • Conducting an on-site annual review to recap the overdraft program’s performance and discuss strategies for enhanced income, enrollment, service and compliance. 

With regard to BSG Financial's best practices, Burch said, “I can tell you from experience, this is unique. With many vendors, it is like pulling teeth to get best practices.” But BSG Financial Group is different. “They are more than a vendor; they are a consultant that makes sure your program is a success,” he said.

Read the entire STAR Financial Bank Success Story (PDF).

Topics: Overdraft, overdraft privilege, Consultative Partnership