For every dollar credit unions hold in credit card balances, members have nearly $19 with outside issuers. That’s largely because entrenched competitors spend tens of billions of dollars a year in rewards programs that consumers love. The secret to competing for share-of-wallet is to offer a solution that lets members enjoy their favorite rewards, but to move the balances to the credit union at a lower rate on an ongoing dynamic basis.
SimplyCredit’s newest offering does just that. With its no-cost plug-in to your home and mobile banking platform, members are informed of potential savings and control the transfer of high-cost balances to cards you’ve issued. Since the functionality is embedded in your home banking system, the automation is always available and members act without zero-APR incentives. Learn about this exciting new solution at our upcoming webinar.
Educational Investment: Benefit of Membership
Speaker: Karthik Sethuraman
Karthik is the Co-Founder & CEO of SimplyCredit and is focused on radically simplifying everyday consumer finance products. Prior to founding SimplyCredit, Karthik was the Head of Analytic Solutions at Kaggle, where he brought cutting-edge machine-learning and data science solutions to Fortune 500 & Global 500 companies and outperformed industry standards by over 40%-300%. Previously, he was a Senior Director at FICO, where he developed underwriting and pricing algorithms for major banks and credit card issuers worldwide, generating over $200MM in additional profit and a billion dollars in revenue. He has Masters in Operations Research from UC Berkeley.