Blog
For a few years now, we’ve believed that “Free-and-a-Gift” checking acquisition programs actually cost community banks in the long run.
We’ve worked with a number of banks to deliver a different approach that engages more new customers and in a way that’s representative of the community bank brand. And it works!
Off-the-shelf checking acquisition programs have been a staple in the industry for nearly 20 years. For some banks, they’ve proven successful in generating new accounts and driving fee income. But increasingly, their performance has left a lot to be desired.
A new approach tested by Galapagos clients has delivered results far superior to those free-and-a-gift programs, with higher response rates and generating new customer relationships beyond just free checking.
