Case Study: The Washington Savings Bank achieves nearly 95% monthly cost savings and greater account customization with Fiserv Relationship Rewards

Loyalty and Reward Accounts Are a True Win-Win for Financial Institutions Working With Fiserv

The Washington Savings Bank, a $433 million community bank serving central Illinois, was constrained by a national branch‑rewards provider that offered limited feature flexibility and charged high service fees. Already running Fiserv account processing and other Fiserv solutions, the bank engaged Fiserv to evaluate and implement a better loyalty solution, exploring Fiserv’s Relationship Rewards product to regain control and cut costs.

Fiserv implemented Relationship Rewards, giving the bank customizable account features, adjustable reward criteria, and full branding control (names, logos, colors), while preserving familiar account structures for customers. The move produced measurable impact—monthly vendor fees dropped by almost 95 percent—along with greater flexibility to drive revenue and respond to market changes, supported throughout by Fiserv’s implementation and consulting.

The Washington Savings Bank

Allison Carpenter

Operations Project Manager