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LKCS is able to provide credit-based prospecting lists and activity alerts from ALL THREE major credit bureaus! Acquire and retain profitable account holders by leveraging tri-bureau prescreen marketing data to identify qualified new prospects, retain account holders at risk of being lost to a competitor, and increase lifetime value by pinpointing cross-selling opportunities in near real time. See how LKCS clients are building campaigns to generate loans with credit prospecting and alerting. See how profitable credit alerting and prospecting can be for your institution. About LKCS: LKCS provides financial institutions with marketing, graphic design, commercial printing, mailing, internet development, e-marketing, newsletter production, database and one-to-one marketing, statement processing, e-statements and transpromotional marketing services. Our clients have counted on us for unrivaled experience, excellent quality, competitive pricing and superior service for over four decades. LKCS – We do that.
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DataFlex Credit Alerting & Prospecting
Leverage Credit Inquiry Data to Improve Retention and Lifetime Value
LKCS
DataFlex Credit Alerting
Retention and Cross-Sell
Traditional Loyalty Programs
• “Onboarding,” matrix marketing and loan recapture campaigns
• Not based on actual credit data
• Credit-worthiness and behavior models used– Economic Stability Indicator
– Vehicle Intend to Purchase
– Real Property Data (available equity, etc.)
• CANNOT predict the exact timing someone will be in the market for a specific product
Credit-Based Loyalty Programs
• React with the RIGHT offer at the RIGHT time
• Gain the ability to reach account holders who may be defecting to your competition in near real time
• Based on actual credit bureau data
• Deliver a firm offer of credit to cross-sell additional products at the moment a need has been identified
Credit-Based Alerts
• Here’s What Happens:– Account holder applies for credit, an inquiry is posted
to his or her credit report
– These inquiries are categorized according to the type of financial product the account holder is seeking: mortgage, auto loan, installment loan, credit card or insurance
– Your account holder database is cross-referenced with these inquiries and a “lead” is generated each time there is a match with the credit file
• Respond with a firm offer of credit or insurance immediately after receiving the lead
Credit-Based Alerts (cont.)
• Select which category(ies) of inquiry(ies) you wish to target
• Leads are then pre-screened using your qualification criteria– Criteria can be based on numerous attributes including
credit score, debt load, etc.
• Choose from daily or weekly alerting service– LKCS provides you with a list of all leads and fulfills any
direct mail and/or e-mail offers.
DataFlex Credit Alerting
• We are now able to provide credit-based activity alerts from ALL THREE major credit bureaus.
– Close loans that would have gone to other lenders by comparing credit bureau activity each day!
– Monitor and identify your account holders DAILY for auto loan, mortgage, consumer loan and/or credit card inquiries.
– Set criteria to identify prospects that will qualify for a loan offer based on your specific pre-screen requirements.
– Send direct mail, e-mail and/or statement onserts to contacts whose credit has been checked and meet your pre-screen criteria.
– Provide outbound call lists for your call center to contact these account holders.
DataFlex Credit Alerting
Credit AlertingCredit Prospecting
DataFlex Credit Alerting
• LKCS can provide daily or weekly alerts for non-members/non-customers in your area that have had inquiries for mortgages, automobile loans, credit cards, etc.
• Acquire new account holders who didn’t contact you.
• Specify credit, demographic and geographic criteria to target qualified prospects in your communities.
• Leads are pre-screened against your credit criteria and existing account-holder lists.
DataFlex Credit Prospecting
AcquisitionCredit Prospecting
DataFlex Credit Prospecting
• Available for any pre-screen marketing campaigns:– Auto Loans– Mortgages– HELOCs– Auto and Mortgage Refinancing– Credit Cards
• Pre-screen your existing accounts holders or reach out to credit-qualified prospects in your communities
DataFlex Credit Prospecting Lists
• Extend pre-approved offers of credit to account holders and non-account holders based on actual credit score information.– Set criteria to identify recipients that will qualify for a
loan offer based on your specific pre-screen requirements.
– Send direct mail loan offers to qualified account holder and non-account holder prospects.
– And, of course, you can utilize the DataFlex reporting engine to measure the results of these campaigns!
Why All Three Bureaus?
• Select which of the credit bureau(s) you want to receive data from– Even though you may prefer to work with one bureau
in particular, account holders may be shopping with a company that uses a different bureau
– Benefit from incremental lift by adding additional bureaus.
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Data Aggregation Overview
• LKCS multi-sources credit and non-credit data creating a very unique compilation of data
• Financial Services-centric and significant incremental advantages
DataFlex Reporting
• Use the power of DataFlex reports to measure the results of your pre-screen and credit alerting efforts.
• LKCS will incorporate any credit based data you utilize into DataFlex to track individual campaign results.
Sample Reports
Firm Offers of Credit
• When using Credit Bureau data, marketing materials must include:– Indications that the recipient is pre-selected, pre-
screened, or pre-approved – Terms and conditions; eligibility requirements
• Including why credit may not be extended after all
– Minimum dollar amount for which the recipient has been qualified
– Opt-out notice and disclosure
Sample Campaigns
Leverage Credit Data to Generate Loans
Sample Campaigns
• The Offers:
First Time Home Buyer’s Offer– Sent to Renters– Qualified by FICO
Score and other credit parameters
Revolving Debt Reduction Offer– Sent to
Homeowner’s– Available equity
over $xx,000– Revolving debt
over $xx,000– Qualified by FICO
Score and other credit parameters
Home Equity Offer– Sent to
Homeowner’s without a CCU Home Equity Loan/LOC
– Available equity over $xx,000
– Qualified by FICO Score and other credit parameters
Sample Campaigns
• Direct Mail Postcard
Sample Campaigns
• E-Mail Marketing
Sample Campaigns
• Transpromo Statement Cover Letter
Pricing
• DataFlex Credit Alerting– Based on number of account holders and/or prospects
screened each month
– FREE Opportunity Analysis
• We will review your account holder credit activity over the past 30 days and provide you with the following data: credit activity by inquiry type, state and credit bureau, as well as qualification rates using your specific qualification criteria!
Credit Alerting Case Study Results
• Average Loan Size of $150,000• Front-end and back-end revenue of 2.5%-3.0%
Quantity Monitored
Monthly Mortgage Trigger Rate
(1% after pass
criteria)
Contact Rate
Contact to Close
Rate
Monthly Number of New Loans
Revenue Per Month
Estimated Credit
Alerting Cost Per
Month
Revenue Per
Marketing Dollar Spent
45,000 450 30% 10% 13 $53,625 $3,500 $15
100,000 1,000 30% 10% 30 $123,750 $5,500 $23
Pricing
• DataFlex Credit Prospecting– Pricing depends on several factors including:
• Number of records purchased
• Demographic selects purchased
• Credit bureau minimum charges
– FREE List Counts and Estimates
• LKCS will run counts at no charge to determine feasibility and cost of your next pre-screen marketing campaign.
Thank You!
Sid HaasVice President of Business Development
Direct: 815-220-3904E-Mail: [email protected]
Schedule a personal DataFlex demonstration today.
