Press release
BancVue Escalates War on Megabanks with Launch of Kasasa 360
Nashville, March 13, 2012 - BancVue, creator of Kasasa®, the powerful national brand of banking products built specifically for community financial institutions, today announced the launch of Kasasa 360, the firm’s latest and most forceful volley yet in its ongoing war with the megabanks.
Kasasa 360 provides account holders around-the-clock access to personal finance management (PFM) tools through an online and mobile-based platform. Designed to deliver a user experience that leapfrogs even the best megabank systems, the latest Kasasa innovation allows consumers to securely aggregate and manage all of their financial products, including those they hold at other financial institutions.
The Kasasa 360 advancement is a planned expansion of BancVue’s wildly popular Kasasa brand.
BancVue introduced Kasasa in 2009 as way for community financial institutions to unite forces under a national brand in order to take on big banks. To date, a total of 130 banks and credit unions across 38 states have joined the brand alliance to pool their advertising and marketing resources under the Kasasa brand and offer more competitive products to their customers.
Following the success of Kasasa, nearly 150 community financial institutions around the nation have already signed on to offer Kasasa 360. The extraordinary reception comes as no surprise to Gabriel Krajicek, chief executive officer of BancVue.
“Kasasa 360 provides banking consumers with a complete financial dashboard for all of their finances at the same time it provides community banking institutions an unprecedented opportunity to expand the customer relationship,” says Mr. Krajicek. “In other words, we’re bringing the Kasasa brand full circle. This is a huge win for everybody except the megabanks.”
Beyond deepening the account holder relationship and increasing client retention, the Kasasa 360 platform has been designed to help participating community banks and credit unions drive greater revenues and facilitate more cross-sales activities.
“In order to stay ahead of the competition, you have to be ready to offer your clients the next big thing in banking,” says Gray Flora, EVP of BankFirst Financial Services in Macon, Mississippi. “We feel that Kasasa 360 is the next big thing and we’re eager to make it available to our community.”
Krajicek expects Kasasa to double its membership by the end of 2012 and reach 1,000 clients in three to five years. If growth continues as projected, BancVue’s Kasasa will soon represent a branch network larger than Bank of America, Chase, or Wells Fargo and have a $100 million marketing budget that will rival the media spend of any megabank.
“Community institutions used to view every other bank or credit union serving their communities as a competitor," says Krajicek, “now they’re recruiting each other to join the fight. This truly is unprecedented.”
“Megabanks remain the biggest threat to our continued success,” said Troy Robinson, president and CEO of BankTexas. “We are now realizing that our best chance for winning market share is to unite and take them on together.”
About BancVue
BancVue is the leading provider of innovative products, world-class marketing, and data-driven consulting solutions to community financial institutions across the U.S. Featuring offerings like Kasasa®, a dynamic suite of banking solutions that make a difference with innovative accounts and money management tools, BancVue products are designed to deliver controlled new account growth, higher profitability, and increased customer retention. Today, the BancVue network has over 5000 branches around the country. BancVue is empowering its clients to compete in and win the war against megabanks. For more information, visit www.bancvue.com.
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CSG|PR
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