Applying Compass Principles to Transaction Products

Reimagining deposit accounts is not just an opportunity to help customers avoid overdraft and other fees. It’s an opportunity to completely rethink how banks meet customers’ total transactional needs.

More on this topic

CFSI's article in American Banker: BankThink Future of Checking Is About More than Killing Overdraft
Read More

According to our data, 54% of checking account customers are in poor financial health. A well-designed deposit account is a safe and convenient repository for wages and benefits received, offering a way to deposit checks with options for immediate liquidity. A next-generation slate of deposit accounts could offer consumers even much more, including affordable small-dollar credit options; algorithms that help customers smooth their volatile income and expenses; and proactive, digital nudges on daily financial decision-making.

Applying Compass Principles to Transaction Products