Keepingit local financialinstitutions2


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Keepingit local financialinstitutions2

  1. 1. FINANCIAL INSTITUTIONS Start Issuing “Loyalty Rewards”Mission Statement:“To educate local communities on the importance of supportinglocal merchants, organizations, banks and the economic impactit has back on the community”.
  2. 2. Current adopters in the industry Bank of America (BankAmeriDeals) U.S. Corp (FreeMoney) Sovereign Bank (Sovereign Rewards) Ally Bank (AllyPerks) PNC (PNC CashBuilder) Region Bank
  3. 3. By the numbers: Merchant-FundedIncentives by 2015 $1.7 BILLION Estimated annual revenue from the incentives for card issuers $115 BILLION Est. dollar volume of transactions resulting from the programs 460 MILLION U.S. cardholders est. to subscribe 140 MILLION U.S. subscribers expected to actually redeem incentivesSource: Aite Group LLC
  4. 4. How we help community banks Making your bank card the most relevant in their wallets Grow your deposits Establish a broader enterprise offering around online banking Reach new bank customers through the latest local channels, including mobile technology Build a loyal community client base
  5. 5. Why your customers enroll We provide engaging online and offline marketing strategies Local retail partners that bring your customers relevant, high-value offers Purchase tips and interactive tools to help them make the right choice Community involvement with loyalty programs
  6. 6. Turn-key Marketing & Promotions Your Banking Website Linked directly to LOCAL offers in your community
  7. 7. Latest Mobile Technology Offers can be directed directly to mobile bank users
  8. 8. About the Platform The platform where the Keeping It Local rewards are issued, is a PCI DSS (Payment Card Industry/ Data Security Standard) validated and compliant platform that adheres to all the requirements allowing it to handle cardholder information and processing of transactions for the major debit, credit, prepaid, ACH, ATM and POS cards. Our processor has been through an in-depth audit of their control objectives, control activities, including controls over information technology and related processes in accordance with SSAE 16 AUDIT
  9. 9. Minimal Integration, Minimal Risk Keeping It Local does not require integration with your “core processor” or platform. As a result there are no related information security risks No integration is required since we only provide rebates/rewards (credit via ACH) back to your financial institution cardholders (checking accounts), minimizing risk.
  10. 10. How it Works Existing Issued Bank Checking Debit Cards Bank Account holdersLoyalty Rebate Participating Merchant Your bank debit cardholders are OFFERED rebates at LOCAL participating merchants. They use your card to pay.
  11. 11. How it Works Existing Issued Bank Checking Debit Cards Bank Account holders Loyalty Rebate Participating MerchantYour bank debitcard now becomesmore important tothe cardholder andmoves to the topof the wallet
  12. 12. How it Works Existing Issued Bank Checking Debit Cards Bank Account holders Rebates are deposited back into your customers checkingLoyalty Rebate accounts, at your bank Participating Merchant
  13. 13. How it Works Existing Issued Bank Your cardholder is now more Checking Debit Cards loyal and more likely to use your bank card for purchases! Bank Account holdersLoyalty Rebate Participating Merchant
  14. 14. How we make it happen Each cardholder enrolled will be assigned an internal “matching” PAN (personal acct number) on our accounting system, that matches with the 16 digit card number your bank issued. No further information is required such as CVV or expiration dates, zip-codes, Pin numbers, etc.
  15. 15. POS Retail Integration Point of Sale (POS) programming on leading hardware platforms including VeriFone, Hypercom, Ingenico, Micros, and POSitouch - Specific expertise across all major payment processing Applications: credit/debit, gift and loyalty, prepaid When your existing issued bank cards are swiped on the POS terminals for rebates, the system will recognize the cardholder as an account at your bank
  16. 16. Bank to Bankcash-rebate management system1. Our processor debits (ACH) participating merchants (rebates) which are settled at our sponsoring depository bank .2. Our sponsoring bank credits (ACH) directly to your checking account holders at your bank.3. This would require having the bank account numbers associated with the card enrolled on the program.
  17. 17. Consumer Protection1. In compliance with Gramm–Leach–Bliley Act: a "consumer" is an individual who obtains or has obtained a financial product or service from a financial institution that is to be used primarily for personal, family, or household purposes, or that individuals legal representative2. Keeping it Local will provide enrollment to the program through the banks website
  18. 18. Reward Program FeesImplementation Fee: $0.00Enrollment Fee: $0.00Monthly Fee: $0.00Transaction Fee: $0.00Yearly Fee: $0.00
  19. 19. Participating Merchants andPartners Redondo Beach Chamber of Commerce Manhattan Beach Chamber of Commerce San Francisco Chamber of Commerce Nearly 1,000 participating Merchants in the South bay Over 1,000 Participating Merchants in San Francisco Bureau of Tourism