Kasasa® Launches New Auto Loan Program, Kasasa FuelTM
New auto loan program offers direct marketing to consumers, increases
approval rates
AUSTIN, Texas–(BUSINESS WIRE)–Kasasa®,
formerly BancVue, an award-winning financial technology and marketing
provider, announced availability of its new auto loan direct marketing
program, Kasasa FuelTM. This turnkey program is designed to
generate profitable auto loans for community financial institutions
(CFIs).
Kasasa Fuel uses credit bureau data to identify households that are
paying substantially higher interest rates on their auto loans than the
CFI charges. It only targets consumers that meet the CFI’s credit
criteria, which dramatically improves their approval rate. CFIs pay only
for successful responses. Kasasa Fuel incents households to open
additional accounts at no cost to the CFI. The CFI, in turn, begins
generating income immediately.
“With analysts predicting a strong year for the auto industry, more CFIs
are focusing their resources on offering auto loan programs that meet
consumers’ needs,” said Gabe Krajicek, CEO of Kasasa. “We developed
Kasasa Fuel to help CFIs increase their loan portfolios by providing
relevant and tailored marketing offers to consumers who meet specific
criteria. This eliminates the marketing cost to the institutions, but
still enables them to leverage their strength in customer service. As a
result, CFIs are providing more products and services that deliver a
compelling consumer value, which enables them to better compete with
megabanks.”
Kasasa Fuel increases cross sell ratios up to 94 percent for checking
accounts and provides individual consumer offers through a use of
multiple marketing channels including direct mail, calling campaigns and
microsites. All incentives, credit bureau data, packaging, telemarketing
expenditures and microsites are paid by Kasasa Fuel, eliminating all
marketing costs for the CFI. Through the Kasasa Fuel program, CFIs can
see an average funded loan amount of $17,000 with an average booked loan
life of 55 months, resulting in an average interest income of $1,200 in
the first 24 months.
Kasasa provides premium rewards-based checking and savings accounts to
consumers, which enables institutions to foster deeper relationships,
deliver increased consumer lifetime value, increase operational savings
and generate noninterest income. Currently, Kasasa has more than 370
community banks and credit unions offering its rewards checking and
savings accounts across 47 states. The company was also named to the
2015 FinTech Forward 100 list of leading financial technology providers
in the world.
About Kasasa
Kasasa® is the innovative leader in branded, community-powered banking
products proven to drive profit and growth for community financial
institutions. With unprecedented access to training, compliance,
research, support resources and customized consulting, Kasasa’s flagship
suite provides a research-based strategy leveraging the power of a
branded relationship platform. Kasasa is making community financial
institutions the topic of conversation for happy consumers nationwide.
For more information, please visit www.kasasa.com,
or visit them on Twitter @Kasasa,
Facebook,
or LinkedIn.
Contacts
For Kasasa
Mary York Cox, 678-781-7217
mary@williammills.com
or
Kathryn-Amelia
Simms, 678-781-7221
kathrynamelia@williammills.com
