 |
Top financial institutions like Keybank use VALID’s flagship product, the TLR100, to attract new customers to their branches and build profitable, long-term relationships. |
|
|
|
It lets you add check cashing to your branch with minimal cost and effort, with the resource allocation and strategy best suited to your business model and customer base. For example, you can keep repeat transactions at the teller window or move them to your ATMs.
|
|
|
|
VALID’s advanced decisioning system delivers an unbeatable 93% approval rate combined with a 3 bps loss rate in the financial services sector, enabling you to safely serve check cashing customers and penetrate a growing and lucrative market. And by using VALID, you gain full OFAC, ABA & Patriot Act compliance with no additional effort.
|
|
|
|
Most customers who enroll with VALID continue as check cashing customers. Thanks in part to that “stickiness,” banks get the opportunity to learn more about these customers and establish broader relationships. As a result, banks have been reporting conversion rates of up to 25%.
Because the VALID application is so inexpensive, quick, and easy to use, check cashing can enhance revenues at the teller window and at the ATM with no additional resource strain. Using VALID speeds up the line inside the branch, freeing staff to focus on higher value products and transactions. ATMs deliver more value with the addition of VALID’s solution by increasing traffic and fee income, particularly when used in conjunction with deposit automation technology.
|
|
|
|
|
