Source: Goldleaf Financial Solutions
Goldleaf Financial Solutions (NASDAQ:GFSI), a provider of integrated technology-based solutions designed to improve the performance of financial institutions, today announced that Monroe, Michigan-based Monroe Bank & Trust has implemented the Company's DepositPlus program.
DepositPlus is a turnkey strategic solution designed to help financial institutions acquire depository accounts through new retail customers.
With $1.5 billion in assets, Monroe Bank & Trust has a rich history of more than 150 years experience in community banking. The bank has always been committed to providing innovative products and services, and, in August, released a new high performance checking account program that offers free ATM usage anywhere for qualifying customers. Based on a successful DepositPlus campaign in 2006, the bank selected Goldleaf to distribute a series of direct mailings promoting the new account. Since each mailing focuses on a different aspect of the program, Goldleaf is measuring the response rates and providing analytics that examine each of the three strategies to identify which approach to the market was the most successful.
"High performance checking accounts are quickly gaining popularity in the Midwest, and we are excited to be one of the first banks in Michigan to offer it to our customers," said Mary Jane Town, vice president and director of marketing at Monroe Bank & Trust. "The partnership with Goldleaf enables the bank to be the first in our local market with this product - something we consider to be crucial to its success. Goldleaf's experience in the community bank market makes them a perfect partner, and we expect to see a lot of traction from this product in the coming months."
The bank expects half of the responses to be based on the high performance checking program while the other half will be based on the free ATM usage. According to Town, the bank anticipates doing some basic customer profiling at the completion of the campaign, so that it can continue to tailor its products to meet the ever-changing customer demand.
Lynn Boggs, CEO of Goldleaf, said, "DepositPlus gives banks a tremendous opportunity to reach a very specifically targeted audience. Working with more than 2,500 community banks nationwide, we believe we understand what strategies, tactics and products work. We deliver our solutions the same way community banks do - we have a talented staff, offer superior products and couple it with exceptional customer service. DepositPlus reflects our philosophy of assisting our customer banks in selling their services, not just ours. That's another thing we believe sets Goldleaf apart from the competition."