Rethinking Checking – Your Key to greater customer satisfaction

Banks and credit unions treat checking as just another deposit account by offering an APY on balances. Currently, institutions waste half a billion dollars of interest expense on checking accounts, with the exception of institutions that use our model. These institutions know that checking accounts have inverse relasticity, which means that the APY, in and off itself, is not a factor in opening a checking account.

Unlike other deposit accounts, such as savings, money market and CDs, checking accounts are a gateway to other purposes such as paying bills, savings and investing. Therefore, consumers evaluate checking accounts based on the features and benefits they provide. The most important feature in a checking account is a gateway to build long-term wealth through investment channels.

The Scientifically Predictable checking program is a transformation approach to the conventional checking account. It is built on the latest discoveries in the science of behavioral economics, which benefits both the institution and the customer. Participating institutions reduce their interest expense, increase their liquidity, and at the same time, make their customers/members happier and wealthier!