Kasasa®, an award-winning financial technology and marketing provider, announced today that its online marketplace and referral program, Kasasa Care™, won the FinTech Breakthrough “Best InsurTech Solution” Award. This is Kasasa’s third year in a row being recognized by FinTech Breakthrough, which acknowledges companies that stand out in the crowded fintech market.
This breakthrough offering has created a shift in how financial institutions can create new, steady streams of non-interest income, while more importantly helping their communities get access to products and services they need. Kasasa Care provides consumers with a breadth of competitively priced offers for all generations. At the same time, it easily creates non-interest income for community banks and credit unions without disrupting day-to-day operations. The product development, marketing, compliance, and support are all included while financial institutions reap referral income on every successful marketing transaction, activity or purchase.
Kasasa’s research shows that consumers are open to value-add product offerings from their financial institution with 91% saying they would accept a free prescription discount card from their financial institution, 86% reporting they would consider a vision or dental plan offered by their institution and 60% would take advantage of an identity theft protection and credit monitoring service from their financial institution.
“Kasasa’s breakthrough online marketplace and referral program positions institutions in a way that can be truly life-changing for consumers, as well as business-changing for financial institutions,” said James Johnson, Managing Director, FinTech Breakthrough. “Kasasa Care is an incredible example of InsurTech innovation and we extend our sincere congratulations to Kasasa for winning our ‘Best InsurTech Solution’ award.”
Community financial institutions face a series of challenges, from margin compression to an increased need to drive more consumer-friendly non-interest income. The secret to generating this type of income is knowing which products and services consumers value and being able to effectively get those offerings in front of the right consumer. Furthermore, training and incentivizing the frontline is tricky because centralizing and acting on data to market those products effectively is taxing on the institutions’ staff. With Kasasa Care, institutions can increase the number of income-generating products and services offered, with minimal effort to make it happen.
“One of the best ways to increase non-interest income is by delivering new offers that consumers want or already purchase from other companies,” said Keith Brannan, Chief Marketing Officer of Kasasa. “Whether account holders are looking for identity protection, asset protection or prescription savings, launching these types of offers is easy with Kasasa Care. This online marketplace and referral program positions institutions in a way that can be truly life-changing for consumers and business-changing for financial institutions. We are thrilled to be recognized by FinTech Breakthrough for our efforts.”