Peoples Bank is excited to announce its recent partnership with WalletFi to assist with the post-acquisition transition strategy following its recent merger with AJS Bancorp, Inc. Through its collaboration with WalletFi, Peoples Bank was able to provide its newest customers with personalized information regarding which recurring services needed to be updated with a new payment method.  These actionable insights enabled customers to more easily update the services that matter most with their new Peoples Bank debit card. By helping customers avoid service disruptions and other issues arising from expired or invalid payment information, the engagement resulted in a better overall transition experience.  In addition, Peoples Bank was able to reduce the potential for revenue churn during the transition process.

“WalletFi was able to reduce a major pain point associated with switching banks,” said Julie Bonnema, Vice President, Project Manager and Digital Banking at Peoples Bank. “Providing insights for our new customers into their existing recurring payments while giving a path to easily update those same services with their new Peoples Bank debit card helped ensure a smooth transition for our new customers. Our mission is to help our customers and communities be more successful, and being able to offer this value added service helped us fulfill that mission,” Bonnema added.

“We were excited to work with Peoples Bank on this initiative,” said Marc Miller, COO and co-founder of WalletFi. “There is a growing realization that the subscription economy will be won with a dedicated focus on the customer and Peoples Bank understands this as well as any community institution in the market. We see an opportunity for acquiring institutions to better know their customers, and one of those ways is through visibility into recurring payments”

SOURCE WalletFi