Financial institutions traditionally have relied on only a small percentage of their customers to drive the majority of profits. But in today’s digital-first banking landscape, banks now have the opportunity to unlock value from each and every account they open.

That’s why we created the Financial Services Growth Engine Playbook. For banks seeking to secure durable, sustainable profit, it’s not just about acquiring new customers. It’s about reducing acquisition costs, improving activation, and driving long-term value across the entire customer lifecycle.

Seamless banking drives customer engagement

Today’s banking consumers expect seamless, mobile-first experiences. But many banks and credit unions still struggle to deliver. In fact, it’s estimated that more than 45 percent haven’t adopted essential features like push provisioning. That’s a missed opportunity. Galileo’s client data shows that virtual cards alone can increase activation by 15 percent and boost transaction volume by 23 percent.

The data is clear: in banking, any unnecessary friction kills engagement and limits growth opportunities. To compete, banks and fintechs must eliminate barriers and connect customers to their ecosystems immediately—starting at onboarding.

Meeting customers where they need financial services most

Galileo research shows all consumers, especially Gen Z and millennials, are curating financial experiences across multiple providers. If your institution isn’t showing up when and where they need you, someone else will.

With real-time personalization, faster access to funds, and tools like Galileos’ Direct Deposit Switch, banks can reclaim their place as customers’ go-to financial provider. Indeed, data has shown that Galileo clients using these tools have seen direct deposit adoption grow by up to 4x.

Extended buying power features build customer loyalty

Features that can help users manage their financial lives, like early pay access, secured credit with dynamic funding, and post-purchase BNPL, can be powerful growth drivers. These tools give customers much-needed financial flexibility while helping institutions increase card spend, reduce churn, and boost customer lifetime value..

For example, Galileo clients using Early Pay have seen card spending surge by 156 percent, and customer lifetime value increase by more than 80 percent, data show. 

Fraud protection that supports growth 

No growth strategy is complete without robust fraud and risk management. Galileo’s Instant Verification Engine, for instance, reduces account verification times from days to seconds—and drops abandonment rates from 50 percent to just 1 percent. 

When you combine seamless digital experiences, highly relevant financial tools, and scalable fraud protection, every new account becomes a launchpad for growth.

Download the financial services growth engine playbook

The Financial Services Growth Engine Playbook outlines proven strategies to reduce acquisition costs, increase enrollment and activation of the right customers, and engage more of the customers you already have to maximize their lifetime value. Inside, you’ll find:

• Data-driven insights and benchmarks

• Real-world client results

• Tactical steps to build your own growth engine

Download the ebook today and learn how to drive deeper engagement, more transactions, and longer-lasting relationships.