In the world of finance, it's a well-known fact that money comes and goes. So, why not make the most of it while it's in your hands? In this article, we'll explore the concept of branding transactions and how it can benefit your financial institution (FI). By leveraging a sender-driven model and incorporating a Person-to-Person (P2P) solution, you can attract new customers, open new accounts, and even bring back deposits, all while enhancing your brand presence. Let's dive in!
The Need to Claim Your Share:
Automated Clearing House (ACH) transactions flow to third-party wallets daily, leaving FI's in the dark about who receives the funds. However, imagine if you could insert your FI into the middle of these transactions and secure a portion of the funds coming back. This is where a P2P solution, like Neural Payments, comes into play.
Neural PaymentsP2P Tool: Bringing Opportunities to Your FI:
Neural Payments offers a powerful sender-driven model that allows you to brand your transactions and leverage them as marketing opportunities. By embedding links within the P2P tool, you can drive traffic back to your website and encourage potential customers to explore opening an account with you. Once they have taken steps to open the account, the Neural Payments tool then has the ability to facilitate real-time funding of the accounts, so that those new customers can quickly and easily begin transacting with your FI.
Benefits of the Sender-Driven Model:
1. Targeted New Customers: When someone receives money through Neural Payments’ P2P tool, they become acquainted with your FI. This presents an opportunity to attract new customers who have a positive impression of your brand.
2.Opened New Accounts: The embedded link in the P2P confirmation page acts as a gateway for interested recipients to explore your FI further. This link can lead those customers to your simplified digital account opening tools, making the process seamless and frictionless.
3. Bringing Deposits Back: By offering a real-time fund transfer option, your FI can entice customers to bring their deposits back to your institution, all with just a few clicks.
A Day in the Life Example:
To illustrate the potential of branding transactions, let's take a look at a hypothetical scenario. Mel sends $4 to Jenn using Neural Payments’ P2P tool. When Jenn receives the money, she notices how seamless and user-friendly Mel’s' FI's P2P tool is to use. Intrigued, she clicks on the link provided on the confirmation page, which directs her back to Mel’s' FI website. Impressed with what she sees, Jenn takes the next step to open an account with Mel’s' FI, and is then able to fund it instantly using the account funding feature.
Conclusion:
While it's unrealistic to assume that every dollar a customer puts into your FI will stay forever, branding transactions can be a valuable marketing tool. By incorporating a sender-driven P2P solution like Neural Payments, you can maximize the potential of these transactions. With targeted new customers, openingnew accounts, and the ability to bring deposits back, you can strengthen your brand presence and grow your customer base. So, why not let your senders connect you to new relationships and deposits? Give branding trag transactions a try.
