SAN ANTONIO, TX – According to estimates from the Small Business Administration, there are currently more than 25 million small businesses operating nationwide. These small enterprises add up to large growth opportunities for financial institutions, as this market grows almost 4 percent each year. Clarke American, a leading provider of checks, check-related products, contact center services, Internet and direct response marketing for the financial services industry is helping financial institutions capture and target business customers with onboarding and cross-selling solutions.

Account holders who have two or more products are more likely to stay with the financial institution compared to account holders with a single product. Onboarding and cross-selling programs engage the account holder in products such as loans, credit cards and online payment. This leads to long-term, more profitable relationships for financial institutions.

The best time to engage small business owners is within the first 90 days of account opening. According to Bank Administration Institute (BAI,) 73% of cross-sell takes place within the first 90 days and 81% occurs within the first 6 months. Financial institutions that capitalize on these opportunities can prevent attrition, which can average up to 35% during the first year.

The activity that occurs at account opening and during the first 90-days of the relationship is key. Phone, Internet and targeted direct mail offers can be strategically positioned to work in tandem to build the relationship in less time. When onboarding and cross-selling programs are in place, the checking program can be used to identify viable leads to account holders who are ready to purchase non-check products. This leads to more products per household sooner, reduces attrition, and increases revenue for the financial institution.

Susan Hill, Director of Business Products for Clarke American explains, “Beginning with the first check order and immediate dialog thereafter, Clarke American is able to promote the right products to the right account holder at the right time. We are able to help our partners exceed their checking program goals and strategically define new ways to promote their products and services, even outside the check. Our onboarding and cross-selling programs help reduce attrition because they support the new account with convenience and access, such as online banking direct deposit and automatic draft. They also maximize opportunities for long-term commitments, such as business line of credit.

Hill explains, “Our business product experts speak directly to account holders via an 800-number while the branch associate opens the account. The checking relationship is also supported by online ordering. Both channels provide added convenience for the account holder and increase revenue through cross-selling.”

Clarke American also offers financial institutions options for delivering messages that promote non-check related products. Hill says, “We, promote the financial institution’s products by phone or follow-up email based on the check order and other account holder needs. In essence, we are an extension of the financial institution channel and of their brand.”

Hill adds, “We provide viable mechanisms with which to capture business account holders, anchor the relationship, and increase profitability. For financial institutions eager to get a share of this market, Clarke American’s solutions provide turn key ways to achieve optimum return.”

About Clarke American
Clarke American provides checks and check-related products, contact center services, Internet and direct response marketing solutions for the financial services industry. Each year, the company produces more than 10 billion personal and business checks in a variety of formats for more than 3,200 banks, credit unions and other financial institutions nationwide. The company has more than 3,200 associates and a national network of electronically linked production facilities and customer service centers located throughout the United States.

Clarke American is a recipient of the 2001 Malcolm Baldrige National Quality Award in the manufacturing category, awarded by the U.S. Department of Commerce, and is the recipient of the 2001 Texas Award for Performance Excellence given by the Quality Texas Foundation. For more information about Clarke American, visit www.clarkeamerican.com.

For information about this press release contact
Cary Corbin
(830) 609-1932
Debbie Talley
(210) 697-1228