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The Science Behind Increasing Revenue Among Single-Transaction Account Holders

Acquiring new account holders is widely known to increase revenue and support the growth of a diversified portfolio. While attracting more account holders is necessary, financial institutions can also benefit from expanding their relationships with the existing pool of one-time account holders, or those who only maintain one or two product relationships.

Like many financial institutions, you may be faced with the struggle of converting your account holders with only one or two relationships, to account holders that hold three products or more at your institution. Your organization may find cross-selling effectively to single-transaction account holders challenging at times, but addressing this problem through an approach like the scientific method can clearly establish the steps needed to define the basic method, guidelines, and system by which we originate, refine, extend and apply knowledge.

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