800-809-2307
Four Letters. Infinite Potential.

Optimize Your Contracts and Meet Millennial Demands

A One-Two Punch

By Kelly Flynn, National Director

Are your card processing contracts coming up for renewal in the next 18-24 months? Then it’s time to consider bringing in an expert negotiator to score you lower fees, secure  improved terms and acquire new services that can help you better serve the single largest market out there today: Millennials.

The Power of the Millennials

We hear a lot about the power of Millennials, and for good reason — born approximately between 1982 and 2002, they’re the largest generation in American history and in our workforce. Millennials represent your financial institution’s largest potential customer base … are you keeping up with their desire and demand to bank, purchase and receive alerts via mobile devices — also known as the “digital wallet”?

Millennials’ affinity for and reliance on technology make for some astounding realities for banks and credit unions:

·  One in three Millennials is open to switching to another bank within the next 90 days

·  Millennials are three times more likely to open a new account using their phones versus in person

·  23% of Millennials cite lack of a mobile app as the main barrier for financial institution engagement

·  94% of Millennial consumers actively use online banking — many via their smartphones and often never setting foot inside a branch

If your bank or credit union doesn’t currently offer digital wallet access, you’re simply not meeting the needs of a large and influential segment of the population.

Digital Wallet is Waiting for You

Selecting digital wallet services can seem daunting, but they are actually right under your nose, waiting for you.

When you negotiate card processing agreements, digital wallet services are often part of the sales pitch. But, many institutions, especially smaller banks and credit unions, don’t take advantage of these for a variety of reasons — not enough awareness of the importance of offering digital wallet, not enough in-house experience with the services, not enough funds available, etc.

That’s where JMFA comes in: we’ll help you secure a great deal on these valuable services at the same time we renegotiate your contracts for debit and credit card processing, card branding, core data processing and Internet banking.

Once you have digital wallet up and running, you’ll see the interest it garners from tech-savvy individuals and be relieved not to have been left behind as this new way of banking rapidly turns traditional banking on its head. As a bonus, you’ll likely see an increase in revenue from greater card usage when you open up digital payment platforms.

Everything to Gain

When you start thinking like a Millennial and serving them on their terms, you’re not only positioning yourself as a forward-thinking financial institution — you’re making it easier for others to engage with you and utilize your services. And that’s always a worthy objective that pays off in so many ways.


With your core customer base on the line, why not let us provide you with a free evaluation of your service contracts today? You may be pleasantly surprised at what we can do for you!

When you use the JMFA Contract Optimizer program, you have the satisfaction of knowing you have absolutely nothing to lose, and a whole lot to gain. That’s because our program is 100% contingency-based — if we don’t save you money, you don’t owe us anything! But even better, we have a 98% success rate in helping banks and credit unions achieve savings in contract expenses, so you can be confident this is well worth your time. 



 

100% 12 months 2020 2020 vision 40 years abusive abusiveness Academy account holder account holder retention account holder strategies account holder strategies; growth strategies; account holders accountability Achieve achievements Advancements Advice Agreement alerts Americans analysis Analytics announcement ask the expert Assistance ATMs Attendees attorneys attracting talent auto loans Automation B2B Balance Bank Bank of Pacific Banking banking services banks banks and credit unions batching Benefit best practices board governance board member board of directors Bob Layendecker bottom line branch equipment branch profitability branding Bryan Hanks budget budgets bundling business business culture business environment business practices business processes business strategies calendar career advice Career Goal CARES Act case studies Case Study CDC CEO CEO onboarding certainty CFPB Challenges change charitable Checklist Cher Cheryl Lawson Choose Chris Karstens claim clarity class action class-action lawsuit Classroom clients Cloud Cohron collections CommFirst Federal Credit Union commitment committed Communication communications communities community community banks Community Outreach Referral Program Competition Competitive Complaint Compliance compliance examinations compliance risks compliant condition conduct Conferences connection Consistency Consistent consultant Consultation consulting Consumer Consumer FInancial Protection Bureau consumer protection Consumer-focused Consumers Contactless cards Contingency Contingency Pricing contingency-based contingency-based fees Contract Contract Analysis Contract Negotiation contract negotiations contract negotiator Contract Optimizer Contract Renegotiations contract review contract staffing Contracts Convenience core processor contracts Cornerstone Credit Union League coronavirus corporate culture corporate governance costs Courtesy Pay COVID-19 CPE credits Credit Card credit card contracts credit card processing credit cards credit report Credit Union Credit Union Vendor Management credit unions crisis Crissandra Fry CSS culture customer customer experience customer service CUVM cyber security Damian Data Data Analytics database Deal debit debit card contracts Debt deceptive Decisions Demand Letters Department of Labor Deposit deposits Development Dick Miller digital directors Disclosed disclosures discounts Discussion Dodd-Frank Act dollars donation Donna Sumrall Dynamic Economic economy Education efficiency studies election Email Emergencies Emergency employed employee employee retention employees EMV migration enchancing productivity enforce enforcement Engagement Errors evaluation Evolve executive search Expectations Expense expense management expense reduction expenses Experience Expert expert negotiations expertise Experts expire Facilitators families FastTrack FDIC Federal Reserve Federal Reserve Board fee Feedback fees Financial Financial Institution financial institutions financial services financial stability Financial Worry FinTech Fixed limits Fixed-limit Floyd's Forum Forrester Free Analysis full disclosure Fully Fully Disclosed fully disclosed overdraft program funds Gen Z Generating Income generating leads generation Generation Z Gift global Goals governance government government agencies Grow Gym Halloween Hammond Happiness health hiring HKW Holiday Holidays Houston Area Food Bank Houston Livestock Show and Rodeo HR HR policies Hubur human capital human resources Implementation important Improved improved efficiencies improved results Inc. income income enhancement Industry Innovate Innovative Institution interests internet banking services interview strategies interview tips IT contracts Jackson Jai Jai Darden James Jamone Moore Jan Southern Jennifer Peoples Jennifer Simmons Jim Griffis Jimmy Nguyen JMFA JMFA Academy JMFA clients JMFA News JMFA Next Generation Overdraft Privilege Joe Marsh John Cohron John M. Floyd John M. Floyd & Associates judicial justification Kelli Silvernale NCUA Kelly Flynn Kennedy knowledge law lawsuits Lawyer leaders leadership Learn Learning Legal legal risk legislative lending program Lesson leverage Limit Limits Literacy litigation litigators lives loans local Long Term Long-Term lost revenue Maggie Thompson Maintenance manage Managed management Mark Roe marketing marketplace Mary Soergel Matrix Matrix-based measurable measurable results meeting Member Members Midwest Region Millennial Millennials mindset minimalism minimalist Mississippi Missouri Mobile Banking Model monetary Money Morrison & Foerster Partner mortgages Most Valuable Provider NAFCU NCUA Needs negative balance Negative Settlement Negotiate Negotiating negotiating contracts negotiator Net Operating Analysis New Decade new revenue New Year New Year's Next Generation JMFA Overdraft Privilege NOA Non-Compliant non-disclosed Non-Interest Income NSF NSF fees Obrea Poindexter OCC Officer Oliver Ireland onboarding Online Opportunities Opportunity Opt-In organization Organizational Health Outcomes outsourcing Overdraft overdraft compliance overdraft coverage overdraft fees overdraft practices Overdraft Privilege overdraft privilege program overdraft program Overdraft programs overdraft protection programs Overdraft Protection Service overdraft service overdraft services overdraft strategy overdrafts overdrawn Overspending pandemic Partner partnership Paul McFarland paycheck emergency payday loans Payments Penalties Pennsylvania performance personnel physical distancing plan planning Plus4 Credit Union podcast Podcasts policies Policy POS Positive Swipe practice practices Press Release Privilege Manager CRM proactive procedure Procedures process process improvement Processing product profitability Productivity Products Professional Profitability Improvement Program Program Management programs prohibited project staffing Promotions Proposals Provider providers PwC Quality quantity Reactive reality Reassess Recruitment Services recruitment strategies reduce expenses refer referral Reg E regional director regulation Regulation E regulations regulators regulatory relationship Relationships remote Renegotiate Renewal Reporting Reputation resolutions Resources Results Retail Retaining Employees Retention Retirement revenue revenue enhancement review Richard Miller risk risks ROI Ron Jennings Roy Roy Seifert Rules Ryan Armstrong Sales Salesforce Satisfaction savings Scrutiny secrets Security senate Senior Relationship Manager service service agreements service contracts service delivery Services Sessions settlement shareholders Sheila Bridges Shopping social distancing Social Events social media Software Solution specialization Spending staff staff development staff spotlight staff training staffing staffing gaps staffing studies staffing study stakeholders standard Statistics stimulus payments Strategic Planning Strategies Strategy streamline Stressful succeed Success success factors Succession plan succession planning Support survey Susan Prell system talent team team members technology technology costs technology upgrades technology utilization temporary staff term Text Third-Party Expert third-party providers third-party vendor contracts third-party vendors threat three Tim Strandquist Time Tools Tools and Resources Tracking Trainer training transaction Transparency Transparent Travel Treats trends Trey Martin Trust UDAAP uncertain times unemployment unfair updates Upgrades Value Variable Variable Limits Vendor vendor agreements vendor contract negotiations vendor contracts vendor management services vendor performance vendors video violation volunteer Walker Washington Washington Savings Bank Webinars weeks Westmoreland Community FCU Whitney & Company Wish list women work Workshops YouTube