Elan Financial Services recently introduced a check card marketing program to help financial institutions encourage cardholders to increase usage of their check cards, as well as acquire new cardholders.
Coupling the need for check card issuers to increase their number of active cardholders and transaction volumes with the growing preference consumers have for electronic payments, Elan believes it holds a key to fulfilling the needs of both audiences. This turnkey program addresses the three key components to a successful check card program — card penetration, activation and usage — and provides tools to assist at each of these stages. “As the popularity of check cards continues to grow, financial institutions need to take advantage of the potential that their portfolio has to offer by increasing penetration, activation and usage,” said Jan Estep, executive vice president of Elan Financial Services. “Our new marketing program enables financial institutions to see opportunity for growth in their check card portfolios and supplies the tools to galvanize this opportunity into an increase in revenue and satisfaction levels.”
The Elan check card marketing program is targeted to financial institutions that may not have a fully staffed marketing department or extensive marketing budget yet need access to reliable, professional marketing tools. To assist in the implementation of check card marketing, the Elan program includes a portfolio analysis tool that estimates the profitability of a check card program by calculating the current penetration, activation and usage in order to develop future strategic marketing plans.
An array of direct mail marketing and cardholder incentive packages is available to facilitate these plans and target specific markets of cardholders. Finally, a reporting package compiles information from a variety of sources and provides the financial institution with relevant data to evaluate the success rate of their marketing program.
“The Elan check card marketing program has been developed with a leading financial services marketing group and offers our clients high-quality, attractive marketing pieces that can be customized for their financial institution,” said Estep. “This program provides the coordination, production and fulfillment of the campaign, while the financial institution enjoys the effects of its success.”
Elan Financial Services, as part of U.S. Bancorp (NYSE:USB), supports more than 7,000 ATMs, 14 million ATM/POS cards, and 8 million credit cardholders with a complete range of products and services including credit card issuing, ATM, debit card, and merchant processing. Elan provides full-service support and management tools, which are secured with a unique Service Guarantee, to more than 3,000 financial institutions. For more information call 1-800-343-7064 or visit www.elanfinancialservices.com. With assets in excess of $173 billion, U.S. Bancorp is the 8th largest financial services holding company in the United States and operates the third largest bank-owned ATM network.