Kasasa® Achieves Record Year, Generates More Than $558 Million in Non-Interest Income for Community Financial Institutions

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Milestones demonstrate growing demand for Kasasa accounts

AUSTIN, Texas–(BUSINESS WIRE)–#CommunityInstitutionsKasasa®,
an award-winning financial technology and marketing technology provider,
ended the year with more than $558 million in non-interest income
generated for community financial institutions.

Kasasa accounts also paid consumers more than $293 million in rewards in
2016, including refunding more than $41 million in ATM fees as well as
paying out more than $227 million in interest and $2.2 million in Tunes
grants. In fact, rewards are now a primary motivator for consumers to
switch to another community financial institution. According to the 2015
Consumer Banking Insights (CBI) Study
, more than half of consumers
say rewards and few or no fees on checking and savings accounts are
important when choosing a community bank or credit union. Additionally,
the recent Kasasa
Explores 2016 survey
found that eight out of 10 Millennials – the
nation’s largest living generation – would switch financial institutions
if one offered more or better rewards than another.

“At Kasasa, we believe in building products that are fair, transparent
and tailored for consumers that are also profitable for the community
institution offering the product,” said Gabe Krajicek, CEO of Kasasa.
“Kasasa was designed to give consumers a better choice through products
that take the consumer’s best interests to heart offered only by
community institutions that feel the same way. These record numbers
demonstrate our collective success in doing so and we’re excited about
the future as Kasasa becomes a preferred financial product across the
nation.”

The company ended 2016 with a total of 456 live and signed community
financial institutions that offer Kasasa’s free, rewards-based accounts,
representing more than one million accounts at 2,614 branches across 49
states. The company remains the 6th largest branch banking network in
the nation if all its clients’ branches were combined into a single
institution.

“At OakStar, our motto is ‘Experience the Difference.’ By this, it is
our focus to create a unique experience for each of our customers, which
aligned perfectly with Kasasa’s continued goal to help community banks’
thrive. The company has successfully worked with hundreds of
institutions across the country. This was a clear indication to us that
they would be a great long-term partner,” said Rob Buchanan, chief
operations officer at OakStar Bank. “Kasasa’s innovative products and
services have allowed us to remain competitive in the industry and
provide our customers with the personalized service they most desire.
We’ve experienced firsthand the benefits Kasasa can offer community
institutions and we look forward to working with them for many years to
come.”

About Kasasa

Based in Austin, Texas with 350 employees, Kasasa is a financial
technology and marketing technology company committed to driving results
for community financial institutions by attracting, engaging, and
retaining consumers. Kasasa does this through branded retail products,
world class marketing, and expert consulting. For more information,
please visit www.kasasa.com,
or visit them on Twitter @Kasasa,
Facebook,
or LinkedIn.

Contacts

for Kasasa
Mary York, 678-781-7217
mary@williammills.com
or
Mary
Curtis, 678-781-3074
mcurtis@williammills.com