GRAPEVINE TX (Feb. 25, 2013) –Utilizing RMS’ Incentive Management Platform, eRedēm clients offer account holders their choice of incentives while eliminating branch inventory and increasing program response rates.
- Financial Institutions using eRedēm are experiencing increased results of up to 20%.
- eRedēm provides a secure, online solution enabling financial institutions to offer a variety of incentives.
- Solution automatically presents a secure mobile site when accessed via web-enabled mobile phones.
eRedēm, the core online application of RMS’ Pulse Incentive Marketing Platform, enables financial institutions to integrate a range of incentives with their acquisition and cross-sell programs, as well as tier based or points based incentive programs, increasing the attractiveness of their product offerings to a broader consumer audience. By offering a broader choice of incentives for acquisition programs, a bank or credit union’s program has greater appeal to a broader range of consumer segments than a single item. And, with turnkey incentive marketing programs, RMS helps our clients stand out with clear and compelling marketing of the incentive offer.
RMS’ Vice President of Marketing Matt Domanico states “Until we launched eRedem, most financial institutions only offered one or two incentives with their marketing program that may only appeal to a small percentage of the consumer segments they target. eRedēm provides them with the ability to offer numerous incentive options from a secure, institution branded site. Because of its flexibility, eRedēm can support practically any incentive mix an institution wants to offer for almost any marketing program. Offering more incentive choices can and does improve marketing program performance.”
“Financial institutions struggle with product differentiation regardless of product type. What is different between one institution’s fee based checking account and another institutions? Or, one’s free checking from another’s free checking? The nuances are practically indistinguishable for the average consumer and this is why they offer consumers an incentive to sign up. However, if every institution offers a similar incentive, banks and credit unions are right back where they started” states Baron Unbehagen, CEO of RMS. “eRedem allows our clients to offer a choice of incentives, whether it be branded merchandise, cash, gift cards, travel, charitable giving, etc. to differentiate their offer in their markets and win more business. In many cases, they save money on their overall program cost and reduce the financial overhead some incentive programs create.”
“eRedēm can eliminate the need to maintain incentive inventory in the branch. Because of this, our clients have reduced the time it takes to launch a program and are experiencing better branch efficiency. Some of our best performing programs improved account acquisition results by as much as 20%.” says Baron Unbehagen, CEO of RMS Inc.
Suffolk Federal Credit Union recently relaunched their anniversary program for members with RMS. “By offering a variety of incentives with RMS’ eRedēm solution, the participation in our anniversary program has increased from 11% to nearly 20%” said John H Barrie III, Chief Operating Officer of Suffolk Federal Credit Union. “ I attribute the increased participation to the quality of gifts that we now offer in addition to providing our members with the ability to choose their gift. Our members were very happy with the selection of gifts offered.”
About RMS Inc.
RMS provides innovative, online and in-branch incentive marketing programs and solutions designed to motivate consumer actions and behaviors to more than 200 financial institutions in the US annually, supporting account holder acquisition, referral, cross-selling and employee programs.
RMS’ Incentive Management Platform program solutions are supported through unparalleled industry expertise, strategic program design, innovative technology, and expansive incentive options. RMS has supported more than 1,100 financial institutions over the past 35 years, resulting in over 25 million new checking accounts.
For additional information about RMS Inc., visit www.goRMS.com.