"Goldleaf is committed to working with institutions to acquire low-cost deposits, because we believe it is paramount to remaining competitive in today's banking environment," said Lynn Boggs, CEO of Goldleaf Financial Solutions. "Growing deposits for both consumer and commercial business is an area of intensified focus for financial institutions. We created a front-end solution that gives financial institutions the ability to attract additional deposits through a more targeted and strategic approach. DepositPlus positions Goldleaf as an extension of the institution's marketing department, working side by side to identify, develop and create a targeted marketing approach based on a specific evaluation of the market."

The process begins with an in-depth competitive analysis of the marketplace, where Goldleaf examines competing banks in the area to evaluate and assess the different products and services being offered. Goldleaf then works with the institution to identify key products that should be provided based on that data, such as free checking, money market accounts or CDs. Upon determining key products, Goldleaf partners with the institution to create a series of targeted direct mail pieces with market-tested messaging complemented by optimal incentives to generate interest.

As each mailing is completed, the Goldleaf team looks at the new accounts opened in the bank and cross-references those accounts with the mailing list. The project team then studies the balances generated, provides the institution with detailed feedback, including the overall response rate, response rate by individual branches, as well as an analysis of deposit types, total deposits and the institution's ROI.

After several mailings are sent, Goldleaf builds a customized response model. This takes a detailed look at the customers who opened accounts, allowing the bank to pinpoint prospects with increased accuracy, which ultimately decreases the marketing cost for the institution.

"DepositPlus was created to lower a financial institution's cost per deposit acquisition while maximizing the return on investment," said Jennifer Napolitano, director of product development for Goldleaf Financial Solutions. "Most banks are cash flow positive within one year using DepositPlus. As a completely turnkey process, Goldleaf manages the entire process - we identify the target list, scrub the lists for accuracy, facilitate the creative work and ensure compliance. It really is a comprehensive solution for banks that need to assess their existing customer base and use a targeted approach to identify prospects."