Driving Checking Acquisition with Intelligent Modeling

This case study details the collaboration between Penn Community Bank and Deluxe Corporation to enhance checking account acquisition strategies. The bank, aiming for growth in household and core deposits, sought a partnership that could provide the necessary resources to compete with larger financial institutions. By implementing a multi-cycle direct marketing approach, Penn Community Bank utilized Deluxe's proprietary modeling to identify valuable prospects based on historical consumer data. This targeted strategy allowed the bank to efficiently reach new households and optimize marketing spend. The case study outlines the evolution of their campaigns, including the introduction of incentives and the shift to quarterly mailings, which significantly improved campaign performance. Additionally, the integration of email marketing alongside direct mail resulted in a notable increase in response rates. The partnership also established benchmarks for measuring campaign effectiveness, enabling the bank to track customer behavior and explore further relationship-building opportunities.