Improve the performance of your overdraft protection service
Sheshunoff Consulting + Solutions’ Deposit Score allows you to get the most out of your existing overdraft service. It monitors “at risk” accounts so you can better manage the risk your bank is willing to accept. Deposit Score interfaces with all core processors to deliver better customer service and more fee revenue, at less risk.
- Maximize your returns on a critical line of business—NSF overdraft revenue
- Realize continuous optimization
- Benefit from a solution that is tailor-made for your unique institution
Deposit Score’s technology enables you to segment accounts who present NSFs by their level of risk and profit potential. This allows you to tailor the risk criteria of your service to your bank’s customers (accounts) activity rather than using static overdraft limits.
Deposit Score learns the unique combination of account characteristics that cause overdraft conditions for your specific accounts through sophisticated statistical calculations. The result is continuous refinement and optimization, specific to each financial institution. Deposit Score predicts which accounts are more likely to charge off and automatically applies pointed adjustments to the overdraft thresholds of those accounts to mitigate risk.
More profits – less risk
In addition, Deposit Score allows you to:
- Automatically score your customers/accounts based on deposit patterns/trends
- Track overdraft repayment history and deposit regularity
- Record the amount of days it takes to clear up overdrafts
- Monitor customer/account holder responsiveness to overdraft notification
- Provide excellent service to those who present NSFs, not enticing those who do not overdraft
- Identify high-risk customers/account holders so you limit their activity
and offer them more appropriate alternatives - Determine minimum and maximum overdraft allowance
Why fix what may appear to be not broken?
Chances are you have an overdraft service in place, and for most it has proven highly profitable and customer focused. So why fix what isn’t broken? Three reasons:
- Many banks have seen their overdraft revenue peak, plateau and even decline, and
- Increasing public scrutiny and regulatory concerns may put your existing programs at risk, and
- If you can boost your revenue and provide better service with an
easy-to-use solution, why wouldn’t you?