Financial Institutions Are Prioritizing Growth and Efficiency in 2025–2026
Jack Henry’s 2025 Strategy Benchmark study results are in, and it’s clear that top priorities are shifting for banks and credit unions. While accountholder growth is still a top performance metric, the financial and regulatory pressures the industry faces have pushed financial institutions to consider how operational efficiency can also impact their bottom line.
An online survey of 149 Jack Henry™ clients – including digital banking clients – found that financial institutions are placing greater emphasis on their digital banking investments to deliver better customer experiences. Industry leaders recognize that accountholder retention will be the key to who thrives in this uncertain economy – and retention boils down to building loyalty and driving engagement.
For financial institutions seeking to maximize accountholder engagement, Extole’s new integration with Banno Digital Banking is a game-changer. With Extole, banks and credit unions can now run powerful, automated referral and upsell campaigns inside the Banno experience—maximizing acquisition, loyalty, and operational efficiency.
Based on insights from Jack Henry’s 2025 Strategy Benchmark, below are 12 ways to activate Extole inside Banno that align with your top priorities, including:
- Growing deposits
- Growing loans
- Increasing efficiency
- And investing in digital
Growing Deposits
64% of banks CEOs identified growing deposits as a top priority, while 58% of credit unions are prioritizing accountholder growth and reducing attrition, Jack Henry reports in their 2025 Strategy Benchmark. Loyalty and referral programs can be a powerful source of new high-value customers and members, while also fostering increased engagement from existing ones.
Referral Marketing Strategies to Grow Deposits and Acquire Account Holders
- Embed welcome offers in your digital onboarding flow
Use Extole to present a welcome offer right when new users onboard via Banno. For example, “Earn $50 when you open your first checking account and set up direct deposit.” Tie incentives to specific behaviors to drive qualified account growth. - Launch one-click referral programs in your banking app
Turn your most loyal customers into advocates. Let them invite friends directly from the Banno app and reward both parties when a new checking or savings account is opened. These programs consistently drive high-intent acquisition at a low cost. - Place contextual referral nudges in high-use areas
Increase the likelihood of participation by keeping referrals top-of-mind while users are in your app. Embed referral CTAs in natural places like account summaries or transaction history in Banno. For instance, after a customer receives a direct deposit, display a message: “Love your bank? Invite a friend and you’ll each earn $25!”
Growing Loans
Financial institutions faced significant difficulties last year due to inflation, interest rates, and unemployment, all of which impacted lending volume. Accounting for slowing loan growth in 2024 means finding new ways to reach–and nudge–consumers. Targeting your existing base of loyal accountholders with upsells and referral rewards is a great way to unlock more avenues for loan growth.
Referral Marketing Strategies to Grow Loans and Expand Share of Wallet
- Launch referral programs for mortgage & credit products
Incentivize current customers to refer friends for loans or credit cards—use Extole’s tracking to ensure referrals are only rewarded upon actual funding or approval. This helps drive quality, compliant loan growth through trusted relationships. - Consider upsell campaigns for existing account holders
Use Extole’s segmentation tools to launch offers targeting checking customers who haven’t yet taken out a loan. For example, “You’re pre-approved! Refer a friend for a mortgage and earn $250 when they close, plus get a lower rate yourself.” - Cross-sell offers at the right time
Trigger personalized upsell nudges when a user takes a relevant action—like applying for a home loan—and offer them a reward to add a credit card or auto loan. All done natively in Banno.
Increasing Efficiency
In the age of artificial intelligence, leaders across industries are increasingly wondering how they can leverage automation for a competitive edge. For banks, the key appears to be maximizing operational efficiency to improve user experiences, convert more accountholders, and make banking easy. Automated solutions like Extole’s Banno integration are an invaluable tool in the race to optimize user flows.
Referral Marketing Strategies to Increase Operational Efficiency Through Automation
- Automate your referral program
If your team still manually tracks referrals with forms and spreadsheets, Extole eliminates that burden. Use automated reward fulfillment, in-depth reporting, and fraud controls to make referrals seamless and secure. Thanks to the Digital Toolkit, Banno users get a branded, built-in referral center—no dev work needed. - Introduce self-serve advocacy with minimal admin
Once a campaign is live, customers can track their referral status, rewards, and progress inside Banno without having to call support. It’s a more efficient experience for your team and a better one for your customers. - Leverage automated targeting and A/B testing to maximize results
Extole makes it easy to tailor referral programs—ensuring the right message reaches the right customers at the right time. Use first-party data to build audience segments and create customized campaigns, then optimize performance with A/B tests on creatives, copy, rewards, and more.
Investing in Digital
In an effort to stand out in a crowded marketplace, banks and credit unions are turning to digital channels to reach and engage more accountholders. Capturing consumer attention can be a challenge, but incentives and rewards present the ideal opportunity to strengthen relationships with your accountholders. Extole can help you maximize the effectiveness of your digital growth channels with rewards that target accountholders at every stage of the marketing funnel, from awareness to acquisition to activation.
Referral Marketing Strategies That Leverage Digital Banking as a Growth Channel
- Incentivize app downloads
If you’re struggling to get users to make the jump from desktop to mobile–or even in-branch to mobile–a referral reward might be the key. Make your referral program app-exclusive to give users a compelling reason to convert to digital banking–and when referred friends enter your referral flow, they’ll get a mobile-first experience, keeping them loyal to digital banking from the start. - Turn your app into your best marketing channel
Digital banking isn’t just for servicing—it’s your best new marketing channel. Extole turns Banno into an acquisition engine by incentivizing users to engage more with your mobile platform as they earn and redeem referral rewards. Use push notifications, pop-ups, in-app placements, and email to market your in-app referral program and drive user activity. - Customize the digital experience for seasonal marketing campaigns
Extole makes it easy to launch and manage programs through Banno with automation and analytics baked in. Your digital banking platform will seamlessly accommodate multiple programs at once, so you can run seasonal bursts alongside evergreen campaigns to maximize the effectiveness of your referral strategy without heavy lifting from your solutions team.
Lead the way in operational efficiency with automated referral and advocacy programs from Banno + Extole
Achieving growth shouldn’t require a heavy lift. With Extole’s embedded platform in your Jack Henry digital banking app, you can easily activate referral and advocacy programs that elevate the accountholder experience. Benefit from automated reward fulfillment, native sharing tools, and a dynamic referral dashboard that keeps users engaged and motivated.
Schedule a demo to see what else Extole can do to drive acquisition and engagement for your financial institution.
