SRM (Strategic Resource Management), an independent advisory firm serving financial institutions across North America and Europe, announced the availability of Key Moments™, an engagement and retention platform enabling financial institutions to own the payment moment and enhance the overall in-app experience for bank customers and credit union members.
“Today, financial institutions need all the advantages they can get when it comes to retaining loyalty and digital wallet share,” said Bob Koehler, Chief Innovation Officer, SRM. “This starts with owning the payment moment. With Key Moments, FIs can offer customized experiences based on everyday activity triggers to strengthen and increase transaction volume and customer engagement, which results in increased revenue.”
Key Moments offers customized experiences that load directly into a bank or credit union’s existing mobile app to drive desired outcomes across card portfolios. These impactful outcomes include 26% more transactions and $20-$40 per card per year of additional revenue.
SRM noted no program cost or risk associated with implementing Key Moments. Financial institutions simply provide payment data, including a monthly transaction stream, and using a proprietary process, SRM can uncover critical areas of opportunity. Based on key data points across payment activities, SRM will deliver an assessment and recommendations, including ideal customer payment experiences.
“Uncovering additional revenue streams can be challenging for financial institutions,” continued Koehler. “With Key Moments and the broad potential of open banking APIs, we offer a solution to increase revenue and strengthen the customer experience, which is vital to the success of any financial institution in today’s competitive environment.”
Key Moments is powered in collaboration with the technologists from Flow Networks. “SRM has a 30-year history of helping banks and credit unions evolve. Now, by offering Key Moments, SRM opens a new universe of client capability in the branch of the future…their app,” noted Chris Boncimino of Flow Networks. “Flow is proud to work with SRM to help clients better engage their customers in real-time.”
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