Tool helps to acquire customers, grow deposits.

• Position: New Products

DepositPlus is a name of a new strategic service designed acquire new customers and to generate larger deposit balances. The "turnkey tool" is offered by Goldleaf Financial Solutions Inc., Brentwood, Tenn.

The service helps the institution acquire deposits through a more targeted and strategic approach. The company says it works side-by-side with the institution's marketing department to identify, develop and create a targeted marketing approach based on the specific evaluation of the market.

The process begins with an in-depth competitive analysis of the marketplace, whereby Goldleaf examines competing banks in the area to evaluate and assess the different products and services being offered. The company then works with the institution to identify key products that should be provided based on that data, e.g., free checking, money market accounts or certificates of deposit (CDs). Upon determining key products, Goldleaf partners with the institution to create a series of targeted direct mail pieces with market-tested messaging complemented by optimal incentives to generate interest.

As each mailing is completed, the Goldleaf team looks at the new accounts opened in the bank and cross-references those accounts with the mailing list. The project team then studies the balances generated, provides the institution with detailed feedback including the overall response rate...