Still, many banks aren’t taking advantage of analytics that can help avoid costly errors and improve their mix of high-value deposits as they navigate this unprecedented period.
This checklist for efficient deposit growth can go a long way in guiding banks to make the most of their valuable deposits.
Identify long-term sticky deposits
Assess loyalty versus hot money
Align results to timely peer data
Measure cross-sell activity, including new-to-bank households
Define offers to deepen relationships, gather and maintain deposits