President's Choice Financial

Overview

The Money Account is a unique "debit-like" account that allows users to earn PC Optimum points via everyday banking activities. 1-in-3 first-time users reported confusion surrounding funding their bank account, and don't understand the incentives and benefits provided. Incoming transactions into Money Account have shown consistent performance, but to achieve 2022 targets, we needed to accelerate the following three areas: first-time funding, ad-hoc re-funding, and hands-free funding.

Solution

Over four-month period, I partnered closely with product and business leadership to shape a strategic approach for driving consistent account funding. We positioned the PC Money Account as more than a debit account - it became a rewards-based banking solution. By enabling direct deposit (payroll or pension), Interac e-Transfer, or EFT top-ups, users can fund their account quickly and start earning PC Optimum points.

Once funds are in the account, every dollar spent or deposited earns loyalty points redeemable at any of the banners in the PC Optimum network (grocery, drug stores, gas, essentials, etc.). This transforms everyday banking into real, tangible value: a banking experience that rewards you at checkout.

KPIs & Targets

• Funding within the first 90 days -> 62%

• Customers carrying a balance -> 46%

• Number of days it takes to fund -> 1 week

• Average account balance -> $483

If you’re interested in a deeper walkthrough or additional context, feel free to reach out.