BancVue's Kasasa Scores Best of Show at Finovate 2009
Win Lands BancVue "Best of Show" Second Year in a Row
| Source: BancVue
AUSTIN, TX--(Marketwire - October 20, 2009) - BancVue, the leading provider of innovative
products, dynamic marketing, and data-driven consulting solutions to
community financial institutions, announced today that the company has been
awarded "Best of Show" at Finovate 2009, for the launch of Kasasa -- a
national brand of superior products that gives community banks and credit
unions the marketing scale they need to compete with the megabanks. This
honor comes a year after BancVue received "Best of Show" at Finovate
Startup 2008 for CheckingFinder.com. The selection was made by the 400-plus
bankers, press members, technology executives, and analysts in attendance.
"It is pretty significant and tremendously gratifying to be selected the
Best of Show, particularly since it is voted on by our peers and colleagues
in the industry," says Gabe Krajicek, CEO of BancVue. "Being recognized two
years running is particularly rewarding, and confirmation that the
innovations we are bringing to community financial institutions are
meaningful and impactful. Kasasa is certainly one of those innovations."
Kasasa, piloted earlier this year in six markets, is designed to unite
community financial institutions around a powerful brand of products that
will awaken the disengaged banking consumer by delivering what research
shows consumers want but believe they can't get -- innovative products and
exceptional customer service. Kasasa offers superior checking and savings
accounts that give consumers incentives that matter to them, from massive
interest rates to iTunes to charitable giving.
In just the first two months of offering Kasasa, participating community
financial institutions reported growth rates upwards of 150% on new
accounts and 372% on deposits at those institutions that were focused on
deposit growth. Currently, the company is expecting more than 100
additional community financial institutions to launch at the beginning of
2010 with more signing up daily.
The Finovate recognition is just one of the awards lining BancVue's 2009
trophy shelf. BancVue was ranked the second fastest-growing financial
services firm in Inc. Magazine's 28th Annual List of America's
Fastest-Growing Private Companies -- the Inc. 500. Serving over 600
community banks and credit unions nationwide, BancVue saw its revenues jump
4,645.5% to nearly $22 million in 2008 from $460 thousand in 2005.
Additionally, Fast Company in its October issue recognized BancVue's Kasasa
as one of the eight most promising companies involved in the reinvention of
the financial industry.
"The recognition we have received this year, as well as our exponential
growth, confirms the overwhelming demand among community financial
intuitions for a partner in innovation to wage war on their biggest
competition -- the 'too big to fail' megabanks and direct banks," continued
Krajicek. "Like our other products and services, Kasasa is simply a win,
win. Kasasa gives community institutions the scale they need to offer
superior products and consumers a reason to believe they can get what they
want."
About BancVue
BancVue is the leading provider of innovative products, marketing, and
consulting solutions to community financial institutions nationwide.
Serving over 600 community banks and credit unions around the country,
BancVue's solutions allow these institutions to compete and win in the war
against the megabanks and direct banks. Community financial institutions
benefit from the development and implementation of BancVue's innovative
products, including Kasasa, a national brand of superior products that
gives community financial institutions the marketing scale they need to
compete with the megabanks, and REALChecking®, a system of innovative
products, superior marketing, and data-driven consulting. For more
information on BancVue, visit www.bancvue.com.