Independent Banker - July 2019 - 69

Power Lending
Partners
Multiproduct, recurring, prescreened loan strategy
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Lending today is complex. Noise, clutter and competition
have created an environment that is confusing to consumers,
leaving financial institutions to explore new and innovative
ways to achieve sustained loan growth, while creating a
positive customer experience.
A financial institution with assets of more than $2.2 billion and
nearly 230,000 customers faced increasing lender competition
for those same consumers. In addition to growing its
loan portfolio, the institution wanted to maintain customer
loyalty.
The institution's leadership initiated a pilot program for employees
only, and due to an overwhelmingly positive response,
they extended the 90-day pilot to 31,000 customers.
Auto, RV, boat and motorcycle loans, as well as Visa® credit
cards and overdraft loans, were offered during the pilot. The
program covered its cost in loan revenue within days.
RESULTS:
$24.5M in loans funded
3.76% response rate
363% ROI
LoanEngine's multichannel, prescreened lending approach
generated a total of 1,158 loans over the 90-day pilot, increasing
the financial institution's average revenue per accepted
loan offer by more than 70% and nearly tripling the overall
revenue gained from this campaign as compared to a loan
campaign conducted the previous year. The financial institution
realized an ROI of more than 363% with a 50% reduction
in acquisition cost per loan.
Visa and overdraft loans generated an additional 607 loans
for $4.3 million in new incremental loan volume earned, with
no additional marketing expense.
The institution chose LoanEngine by Harland Clarke to monitor
its customers and offer multiple prescreened loans with
credit limits. With an integrated marketing automation platform,
LoanEngine™ manages offers across all delivery channels,
including direct mail, mobile, email, online banking,
branch and call centers. Customers can access, review and
accept offers at any time, from anywhere.
The financial institution is continuing comprehensive prescreens
quarterly and implemented mobile banking integration
and additional online banking features. It's also considering
offering additional loan products via comprehensive
prescreened lending. Because the program includes multiple
channels, the financial institution is able to maintain consistent
and quality engagement with its customers.
Institution size, assets, campaign results and statistics based on client data.
Many variables impact marketing campaign success. Information on earnings
or percentage increases that is contained within this case study is provided
for demonstrative purposes only. Harland Clarke does not guarantee
or warrant earnings or a particular level of success with a campaign.
LoanEngine is a trademark of Harland Clarke. All marks are the property of
their respective owners. All rights reserved.
contactHC@harlandclarke.com
harlandclarke.com/LoanEngine
800-351-3843
http://www.harlandclarke.com/LoanEngine
Independent Banker - July 2019

Table of Contents for the Digital Edition of Independent Banker - July 2019
