What is XpertSavers?


The Challenge

Most credit unions and community banks depend mainly on core deposits—like checking and savings accounts—as a stable source of funding their loans. Unlike other financial institutions, a community bank's deposit growth is limited by their branch footprint. Smaller banks growing their balance sheet may have to turn to less stable, more expensive brokered deposits and more costly borrowed funds, which are viewed less favorably by regulators. In addition, prominent banking experts are warning that many smaller banks will have difficulty acquiring new customers and core deposits in the current changing banking/funding environment.

The Solution

XpertSavers is an alternative channel for banks and credit unions to gather deposits. Our team is led by a group of banking experts with a solid record of building internet deposit businesses, while meeting the rigorous regulatory and security demands of the financial industry. XpertSavers facilities new customer acquisition and core deposit growth by delivering a customized, operational digital channel. Our partners include Xaxis, the world’s top provider of programmatic marketing and leading online application service providers for financial institutions.

Meet the Xperts

X
Jennifer Armstrong

Jennifer Armstrong

CEO

With over 25 years of experience serving in various leadership positions in the financial sector, Jennifer is our black belt jiu-jitsu of online banking and marketing. Formerly the Senior Vice President of New Product Development and Chief Marketing Officer of CIT Bank, Jennifer led the development and launch of their internet bank, which generated 2.8 billion dollars in consumer deposits in only 12 months of its launch. In addition to surpassing her target goal by 45%, Jennifer’s work helped generate over 11 billion dollars in consumer deposits over the course of 4 years, and reduced the bank’s cost of funds by 200%. Her development of CIT’s internet bank also earned her the prestigious IAM (Interactive Media) Award for Best-in-Class Banking/Financial Information, as well as awards for web design and development, and website rebranding. Jennifer created XpertSavers to provide an accessible online marketing and banking channel to community banks to help them compete with larger banks in their local market.

James E. Dunn, III

Bill Doscas

President/VP of Sales

Bill is an accomplished sales, operations and finance executive with over 30 years' experience and global expertise in delivering value in the information technology space across multiple industries and customer sectors. He always puts his customers first and works to ensure that customer commitments are met and exceeded. He also has a great deal of experience in driving digital transformation initiatives for organizations. Bill was previously with International Business Machines Corporation (IBM) where he held a number of senior leadership roles. Most recently, he was Vice President Digital Sales, IBM North America, where he transformed and led a digital sales team of over 1000 sales professionals driving revenue across IBM's software, services and hardware products. He was key in developing and implementing digital products, offerings and sales processes for IBM's customers and the sales team. Prior to that role, Bill held various VP and General Manager's roles for IBM both domestically and globally in Services Sales, Business Processes Outsourcing, Global Financing, and numerous other senior management positions. Bill graduated from the New York University Stern School of Business, where he received a Master of Business Administration degree with an emphasis in finance and quantitative analysis. He earned a Bachelor of Business Administration majoring in Economics from New York University Stern School of Business in New York. He has participated in several advisory boards focused on inside sales and services revenue.

Paul Petrylak

Paul Petrylak

Chief Operating Officer

When it comes to helping businesses score, Paul plays to the final whistle. Our Chief Operating Officer, Paul has over 20 years of executive experience helping banks like JPMorgan Chase and CIT Group increase their top and bottom lines. At both banks, he developed and executed an insurance growth strategy that doubled revenues and profits; launched the JPMorgan Fixed Annuity that generated $1.5 billion in sales in less than three years; and developed CIT’s post-bankruptcy business restructuring plan for the NY Fed. Prior to his position at XpertSavers, Paul served as Managing Director for Hudson Riverside Advisory, where he provided advice on strategy, team build-outs and execution related to early stage companies, new product development and larger scale corporate growth initiatives. He also served as the President and Chairman of the American Bankers Insurance Association.

Trang-Thu Tran

Trang-Thu Tran

Chief Product Officer

Meet Trang-Thu, our Chief Product Officer. Trang-Thu brings over 15 years of product, strategy, and operational experience in the technology and financial services sectors, with a focus on retail and investment banking. Prior to her role at XpertSavers, Trang-Thu served as Senior Product Manager at Amazon, where she was responsible for the development of Amazon’s Local Register product, a mobile point-of-sale and payment solution for small and medium sized businesses. She also oversaw the program’s operations, including customer acquisitions, credit and risk management, customer service, and analytics. When it comes to product development, Trang-Thu is our secret sauce.

Jennifer Armstrong

Jennifer Armstrong

CEO

With over 25 years of experience serving in various leadership positions in the financial sector, Jennifer is our black belt jiu-jitsu of online banking and marketing. Formerly the Senior Vice President of New Product Development and Chief Marketing Officer of CIT Bank, Jennifer led the development and launch of their internet bank, which generated 2.8 billion dollars in consumer deposits within just 12 months of its launch. In addition to surpassing her target goal by 45%, Jennifer’s work helped generate over 11 billion dollars in consumer deposits over the course of 4 years, and reduced the bank’s cost of funds by 200%. Her development of CIT’s internet bank also earned her the prestigious IAM (Interactive Media) Award for Best-in-Class Banking/Financial Information, as well as awards for web design and development, and website rebranding. Jennifer created XpertSavers to provide an accessible online marketing and banking channel to community banks to help them compete with larger banks in their local market.

James E. Dunn, III

Bill Doscas

President/VP of Sales

Bill is an accomplished sales, operations and finance executive with over 30 years' experience and global expertise in delivering value in the information technology space across multiple industries and customer sectors. He always puts his customers first and works to ensure that customer commitments are met and exceeded. He also has a great deal of experience in driving digital transformation initiatives for organizations. Bill was previously with International Business Machines Corporation (IBM) where he held a number of senior leadership roles. Most recently, he was Vice President Digital Sales, IBM North America, where he transformed and led a digital sales team of over 1000 sales professionals driving revenue across IBM's software, services and hardware products. He was key in developing and implementing digital products, offerings and sales processes for IBM's customers and the sales team. Prior to that role, Bill held various VP and General Manager's roles for IBM both domestically and globally in Services Sales, Business Processes Outsourcing, Global Financing, and numerous other senior management positions. Bill graduated from the New York University Stern School of Business, where he received a Master of Business Administration degree with an emphasis in finance and quantitative analysis. He earned a Bachelor of Business Administration majoring in Economics from New York University Stern School of Business in New York. He has participated in several advisory boards focused on inside sales and services revenue.

Paul Petrylak

Paul Petrylak

Chief Operating Officer

When it comes to helping businesses score, Paul plays to the final whistle. Our Chief Operating Officer, Paul has over 20 years of executive experience helping banks like JPMorgan Chase and CIT Group increase their top and bottom lines. At both banks, he developed and executed an insurance growth strategy that doubled revenues and profits; launched the JPMorgan Fixed Annuity that generated $1.5 billion in sales in less than three years; and developed CIT’s post-bankruptcy business restructuring plan for the NY Fed. Prior to his position at XpertSavers, Paul served as Managing Director for the Hudson Riverside Advisory, where he provided advice on strategy, team build-outs and execution related to early stage companies, new product development and larger scale corporate growth initiatives. He also served as the President and Chairman of the American Bankers Insurance Association.

Trang-Thu Tran

Trang-Thu Tran

Chief Product Officer

Meet Trang-Thu, our Chief Product Officer. Trang-Thu brings over 15 years of product, strategy, and operational experience in the technology and financial services sectors, with a focus on retail and investment banking. Prior to her role at XpertSavers, Trang-Thu served as Senior Product Manager at Amazon, where she was responsible for the development of Amazon’s Local Register product, a mobile point-of-sale and payment solution for small and medium sized businesses. She also oversaw the program’s operations, including customer acquisitions, credit and risk management, customer service, and analytics. When it comes to product development, Trang-Thu is our secret sauce.

How It Works

Community banks looking to increase their core deposits typically have two choices:
Open more branches
OR
Create an online banking platform with comprehensive marketing and technology support

While these options may be perfectly suitable for big banks, smaller banks often lack the resources to open more branches or to manage an online banking program in-house. XpertSavers offers an alternative approach that allows community banks to increase their funding without the added costs of opening more branches.

Here’s how it works:

Our Xperts meet with your bank or credit union to develop your digital strategy and create the E2E customer experience that will optimize new customer acquisition and core deposits.

Our marketing team then works with you to design an online banking website that advertises your bank’s products and allows consumers to apply for them by filling out a simple online application.

Using programmatic technology, we create data-driven ad campaigns that market your products to targeted audiences across multiple online channels. When a consumer clicks on one of your ads, it brings them to your bank’s site, where they can view your products (savings accounts, CDs, etc.) and apply for them online.

The online application service provider then verifies the applicant’s identity and credit, and securely transmits their information to your bank. Neither the application service provider nor XpertSavers retains the applicant’s information once transmitted.

The best part is, The XpertSaver’s program is more than just a way to increase your bank’s deposits. By establishing an online presence, and making your site accessable to quality consumers, XpertSavers can help you cross-sell other products your bank offers—like loans, and insurance—all while promoting brand awareness, and gathering the funds you need. To learn more, get in touch with one of our Xperts by filling out our brief contact us form.

FAQs


Q. What is XpertSavers?

So glad you asked! Simply put, XpertSavers is a cost-effective, turnkey online banking and marketing solution for community banks. Our team is comprised of top-notch banking, technology and marketing experts. Our mission is to help banks and credit unions acquire new customers and gather deposits (i.e., low cost funding sources) by providing an online channel for originating savings and term CDs.

Q. Who are XpertSavers’ clients?

XpertSavers’ online banking and marketing solution is designed for well-capitalized community banks and credit unions whose total assets are between 500 million and 15 billion dollars. XpertSavers is an ideal solution for financial institutions whose loans are growing faster than their core deposits, and who are using debt and brokered deposits for funding.

Q. Who determines the bank’s deposit pricing strategy and execution?

The banks who subscribe to XpertSavers’ online banking and marketing tools maintain complete ownership and control of their customer acquisition strategy, origination and servicing functions, products, pricing and the entire customer relationship. XpertSavers is simply the messenger.

Q. How does XpertSavers charge banks for their services?

The pricing structure for XpertSavers is predictable, controllable, and affordable. Unlike other marketing companies, who might charge you based on the volume of deposits or accounts originated by their program, XpertSavers charges you a set monthly technology and marketing fee based on your funding goals. Better yet, our monthly marketing fees are flexible, allowing you to increase or decrease your marketing spending according to your funding needs.

Q. Does XpertSavers prioritize banks when generating deposits?

No. XpertSavers doesn’t give any of its bank customers preferential treatment. XpertSavers just lists and markets the interest rate information that our bank customers provide. Consumers make the ultimate decision whether or not to create a relationship with your bank or credit union.

Q. Does XpertSavers create any deposit products for participating banks?

No. Our bank and credit union customers create all of their deposit products; XpertSavers simply markets those products at the direction and pursuant to the funding needs of each particular bank. XpertSavers does not own the products, the accounts or the customer relationships. The bank owns the customers and the products they purchase.

Q. When a customer opens a CD or savings account, how are the funds remitted?

Customers fund their accounts by remitting the money directly to your bank and not through any intermediaries.

Q. Does XpertSavers retain any customer information?

No.

Q. How can I learn more about XpertSaver’s online banking and marketing solution?

We thought you’d never ask! To learn more, complete our simple Contact Us form, and one of our Xperts will contact you for a pressure-free conversation about our products and services.

Q. What does the application service provider do?

XpertSavers builds custom sites for its bank and credit union customers, where bank products and interest rate information is displayed for the consumer. If interested, the consumer can choose to complete an online application, powered by our application service provider, to open a savings account or purchase a CD. The application service provider enables a secure, online application interface that includes robust customer identity and credit verification tools to help banks determine applicants’ eligibility.

Q. Where will customer information be passed in the process? Will customer data be at risk?

XpertSavers is committed to protecting the security of individuals’ personally identifiable information (PII). Information captured through the application service provider’s web-based account opening platform is not stored; it is transferred to the bank or credit union. These mission-critical systems were built by experts in internet security, protecting the system by following rigorous security protocols that combine proprietary technology, strict security policies, and a staff whose top priority is security.

Q. How long does it take for a consumer to complete the application process?

Our simple CD application process takes about 10 minutes.

Q. What is the role of Xaxis?

Xaxis partners with XpertSavers to provide digital marketing strategy, execution and analytics for our bank and credit union customers. Xaxis is a global digital media platform that programmatically connects advertisers with customers in real-time across all addressable channels. Please visit xaxis.com for more information.

Q. How targeted can the digital marketing efforts be in identifying potential customers?

XpertSavers' digital campaigns are designed to range from very broad--to develop a geographically diverse set of customers--to very narrow--to a more targeted customer based with particular attributes and a high propensity to make a deposit. XpertSavers' marketing team works with the bank to adopt a digital campaign compatible with the bank's customer acquisition strategy.

Q. Can our bank cross-sell additional products to the customer beyond internet CDs or internet savings accounts?

Since your bank owns the customer, it can cross-sell any product under its own brand, including loans, insurance and investments.

Q. Do other banks get core deposit credit for their internet deposit generation?

Yes. Other banks that originate deposits on the internet using similar approaches classify most of their deposits as core. XpertSavers and Xavis have the most sophisticated and simplified end to end solutions; however, each bank is responsible for classifying their own deposits for their regulators.

Contact Us

Feel free to contact us about any questions that you have.