Tuesday Topic: Data-Driven Deposit Strategies

Competition for core deposits has many banks offering promotional rates and pursuing broad marketing campaigns to secure funding. But others are using analytics to identify the customers most likely to deepen their relationship with the bank and are selectively marketing to them. The goal: attract new deposits without triggering broad repricing across the existing book. Read this report for more insights into core deposit strategies. 

Are pricing and marketing decisions at your bank driven primarily by rate competition or customer profitability? Have you determined which customers are most likely to consolidate deposits or deepen their relationship with your institution?