Challenges Meet Solutions

Financial institutions, banks and credit unions alike, are in an ever-competitive and ever-evolving marketplace. The challenges of lower-interest margins, stagnant or decreasing fee income, free checking, and commodity products are even more prevalent than they were five years ago. Combine these challenges with tough economic times and it means that financial institutions need solutions to diversify their income strategies and find alternative revenue streams. A partnership with Affinion Group puts increased fee income, loyalty, and retention in the palm of your hands.

Add-on services to checking and share draft accounts can offer an attractive source of fee income to financial institutions while increasing the lifetime value of participating accounts. Many financial institutions are seeking these services to offset their decreasing overdraft fee income. Some financial institutions are achieving a 30% penetration rate among all checking account customers and producing over $50 in incremental annual pre-tax profit per account of participating customers. For a $9 billion deposit institution, this equals roughly $4 million in annual pre-tax profits.  

Maximize Appeal, Strengthen Loyalty, Deliver Results

Our value-added checking programs drive revenue opportunities and strengthen account-holder loyalty while providing added savings and protection to program members. Our comprehensive multi-channel strategies drive enrollment while our training, fulfillment and service complete the program. Our turnkey checking solutions maximizes account-holder appeal while providing our partners with a competitive advantage in the marketplace.

When partnering with Affinion Group, our clients can expect to receive the following:

• Strategies on how to use add-on benefits to increase account-holder profitability and tenure
• Best practices to achieve a meaningful level of penetration, gain internal focus and deliver the maximum program value
• Tactics on how to deliver non-punitive fee income while addressing the loss in overdraft fee income
• Case studies on top performers and what it means to the bottom line

Here is a small sampling of some of the valuable program benefits your account holders could enjoy as part of your value-added checking program provided by Affinion:

PROTECTION SERVICES

Card Patrol^SM1
Exclusive to Affinion Group, Card Patrol (powered by CardCops technology) is a proprietary technology service that helps prevent against identity theft and fraud. Card Patrol’s sophisticated, real-time, early-warning web crawling technology – combined with human intelligence – monitors various chat rooms across cyberspace looking for consumers’ exposed personal information. In the event that we find compromised personal information on one of our members, we immediately get that information back in the hands of the consumer so appropriate action can be taken to minimize the risk of identity theft and fraud. Card Patrol offers real-time data capture and member notification and has frequently been profiled by leading news organizations as a leading identity theft prevention service.

Debix Fraud Defense™²
Debix Fraud Defense is there at the moment that matters most; when a thief could be attempting to open credit in a consumer’s name. Debix Fraud Defense puts the consumer in the middle of the transaction to stop impersonation and help stop new account fraud; one of the most damaging types of fraud for consumers (according to Javelin Strategy & Research). Debix places a fraud alert on behalf of consumers and their patent-pending technology allows credit issuers to communicate personally and securely with consumers. This instant automated verification system can ensure that a credit authorization transaction is legitimate.

Identity Theft Insurance with Fraud Assistance³
This benefit addresses concern for the fastest-growing crime in America: Identity theft. In addition to the insurance coverage, highly-trained fraud specialists are on call 24/7 to assist individuals with the fraud resolution process including how to restore their credit records and more importantly, their good name. Each claimant is issued a customized identity theft recovery kit, which includes pre-written letters the insured can use to notify relevant government agencies and businesses about the theft. Insurance coverage reimburses specified expenses incurred as a result of a stolen identity (such as lost wages, legal fees, certified mail and long distance charges).

Credit Alert®⁴
Affinion provides 24-hour, daily credit monitoring services to help consumers monitor and detect activity on their credit file. This protection service is a valuable tool in mitigating the risks of identity theft and fraud. Daily alerts notify consumers when an inquiry is made into their credit history or when certain negative information is added to their credit report. Members of this service also receive quarterly “no hits” notifications when no activity has been detected. Members also have access to our toll-free Credit Information Hotline staffed by Fair Credit Reporting Act (FCRA) trained representatives, to answer questions about the information contained in their credit file.

Payment Card Protection
Protection begins the moment the customer's completed registration form is received. In the event of card loss, your customer makes one telephone call to our toll-free emergency number; their credit, debit and ATM card companies will be notified immediately. Special card liability protection covers any liability for which the customer may be held responsible. Emergency cash and airline tickets for travelers are also included in the service.

SAVINGS SERVICES

Cash Rewards⁵
Savings made simple! Consumers want value, savings, and ease of use. Affinion has developed a turnkey, low-cost rewards benefit that offers significant value and savings opportunities for program members. This convenient cash back rewards program allows your account holders to register a credit or debit card, shop online through our secure portal, and receive easy cash back on purchases with over 200 top brand retailers. Program members simply pay full price at online check out, then their cash back appears on their monthly statement. No forms to submit, it’s really that simple!

Everyday Rebate Rewards
Your account holders can get rewarded for everyday purchases including gas, groceries, pet supplies and more. Program members will receive quarterly rebates up to 10% when they submit their receipts and vouchers for everyday purchases. Members can save up to $40 in rewards annually – just by purchasing items they use every day!

Online Local Savings
Your account holders can save money at their favorite local merchants with thousands of online discounts. Members enjoy access to savings on recreation, dining, attractions, auto and home services, clothing and other merchandise, and more.

Savers Club®
In addition to local discounts, your account holders can save hundreds of dollars on offers nationwide. With the value-packed Savers Club Book, program members can save up to 50% on regular-priced room rates at thousands of participating lodging properties worldwide. Savers Club also features money-saving offers good for theme park admission, movie tickets, car rentals, dining, entertainment, grocery items, retail services and much, much more.

Companion Airfare
With Companion Airfare, program members travel with a friend and their friend’s ticket is on us! We’re proud to offer program members special complimentary companion airfare benefits. When they buy a regular-priced, adult, coach-class, round-trip ticket from any participating airline, members qualify for a complimentary, adult, coach-class, round-trip companion ticket worth up to $500 as a way of saying “thanks” from you, their financial institution. What’s more, your account holders are eligible for one complimentary companion certificate every 12 months! With this special offer, they can grab a friend and fly to the coast, the mountains, the big city or their choice of more than 100 other exciting destinations. They’ll both have fun and save money at the same time!

Concierge Service
Our Concierge Service provides program members with access to many valuable services, from recommendations and reservations to getting advice on purchasing decisions. Whether they’re staying home or traveling, we make it easy for your account holders to find information and advice on entertainment and sporting events, dining, shopping, household services, and tourist information.

Discounted Gift Cards⁶
Program members can enjoy the convenience of buying a gift without any worries or hassles. With this benefit your account holders can purchase gift cards and enjoy a discount of the face value of each card. Discounted Gift Cards are available for popular clothing stores, department stores, hotels, restaurants, and more.

At Affinion, we are fully committed to the success of your value-added checking programs. We provide a variety of complimentary training sessions and ongoing support to ensure easy implementation, fast account holder uptake, and continued success.

Call us today at 1-800-251-2148 to speak with an Affinion representative
and learn how to make value-added checking solutions work for your institution.

¹ Card Patrol^SM delivers monitors personal information on the Internet by searching public databases and chat rooms. It is impossible to ensure all sources of information have been searched; therefore, your reports may not contain or apprise you of all of your personal information that may have been compromised.

² When credit issuers receive applications to open new credit accounts in your name, they can take reasonable measures to verify the identity of the person opening the account, including calling Debix Fraud Defense at the phone number shown in the Fraud Alerts placed in your credit files. If the credit issuer calls, Debix Fraud Defense will then call you to verify that you have requested that new credit. However, Debix Fraud Defense cannot guarantee that new credit accounts will not be opened in your name because credit issuers can use reasonable steps, other than a phone call, to verify your identity. Prior to registering for the Debix Fraud Defense benefit, you will be required to affirm that you have a good faith suspicion that you have been or are about to become a victim of fraud or a related crime, including identity theft.

³ Identity Theft Insurance is offered through the insurance company named on the Certificate of Insurance. The description herein is a summary only. Please refer to the actual policies for complete details of coverage and exclusions. This coverage is not available to residents in the state of New York.

⁴ Credit Alert® is not a credit counseling service and does not promise to help you obtain a loan or improve your credit record, history or rating. The Credit Alert® service may be modified or improved at any time and without prior notice. Credit Alert® is a registered service mark of Affinion Publishing, LLC. Daily monitoring will notify members of any inquiries, significant changes in credit score, certain derogatory information, or accounts that have been added to their credit reports as reported by one of the three major credit reporting agencies. If no information has been added or changed, then the member will receive a quarterly notification stating that no information has changed within their credit file. Neither the Plan Administrator, the provider of the Credit Alert® service, or its credit information subcontractors, nor Financial Services Association shall have any liability for the accuracy of the information contained in the Credit Alert® reports which you receive, including any liability for damages, direct or indirect, consequential or incidental.

⁵ You must access the retailer’s link through the website provided and use the credit or debit card you have registered to be eligible for rewards. Credit will be issued automatically to your registered card within 90 days from date of purchase. Participating merchants may change at any time without notice. Certain restrictions and limitations may apply.

⁶ Gift card/gift certificate purchases limited to a total of 500 cards annually. Participating merchants may change at any time without notice. Certain restrictions and limitations may apply.