In case you missed out... listed below are BSG Financial Group's five most popular blog posts of 2016. Loads of people have already read them and we wanted to make sure you did too! Take a look to get "in the know" and feel free to pass them along!
Right on the heels of our latest product release, I am pleased to unveil the addition of another revenue-generating solution for financial institutions: PaySound®—the online checking account that does not allow overdrafts.
PaySound combines a full-service, mobile-ready checking account with an optional line of credit (from $500 to $5,000) for those of your account holders who do not want to incur even a single overdraft charge. These account holders may have opted out of your discretionary overdraft program or they use alternative sources of short-term funding.
For whatever reason, they do not want their financial institution to allow them to spend more than they have in their accounts; and recent research shows that many of them are willing to pay for the certainty of no overdraft fees.
I am pleased to announce that our company has added MinuteLender™ and Business MinuteLender™—online lending platforms for consumers and small businesses, respectively—to our suite of revenue-enhancement solutions for financial institutions.
Using the MinuteLender technology platform—under your financial institution's brand and control—account holders are able to get approval and account set up of small dollar, unsecured loans in just minutes. The entire loan application process can be accessed and completed on a computer or mobile phone, vastly improving the lending experience.
Session to advise banks and credit unions how to improve fee income & service with a compliant discretionary overdraft program.
You see, the experts at Haberfeld–as do we–disagree with much of the analysis being published about overdrafts, especially from organizations like The Pew Charitable Trust and the Consumer Financial Protection Bureau (CFPB) that are looking to further regulate or even eliminate this service.
We're not sure if it's a trend or merely a coincidence, but there have been quite a few articles in the trades recently that paint overdraft protection in a more positive light than usual. We think it is beneficial to share these articles that substantiate our belief that overdraft protection programs are, in fact, helpful to many consumers in meeting short-term liquidity needs. Further, the majority of consumers who access overdraft privileges do so as the result of an informed and conscious decision.
Have you heard? BSG Financial Group will host a webinar for financial institutions entitled, "Managing Deposit Fees: Price With Precision to Save Time & Increase Income."
The free webinar, which will help banks and credit unions accurately set retail deposit fees to maximize non-interest income, will be offered in two sessions: Tuesday, December 8, 2015 at 11:00 am EST and Thursday, December 10, 2015 at 2:00 pm EST.
The webinar—especially relevant to financial institution marketing, retail, and financial officers—will provide tips and strategies to help financial institutions accurately set retail deposit fees to stay ahead of the competition and maximize non-interest income.