Gone are the days when banks could count on depositors seeking shelter from the recession. With rising rates, how can banks rise to the occasion?
As baby boomers retire, they are likely to avoid the traditional time deposit in favor of customized solutions that address their needs more directly.
Timely information about competitor deposit pricing behavior can save a bank substantial interest expense.
Expiration of the Bush tax cuts is likely to decrease the amount of money consumers will have available to deposit in bank accounts.
The soon-to-expire unlimited deposit insurance coverage for noninterest-bearing transaction accounts had a marginal impact on balances over $250,000.
In a world of excess deposits, banks must price for quality over quantity, with effective customer segmentation analytics the key to achieving that.
Between now and yearend, nearly $1 trillion could shift from non-interest bearing checking accounts to other deposit accounts – but which ones?
Rather than simply turning away consumers with poor or no credit histories, financial institutions should take the lead in helping those people improve their credit for profitable, long-term relationships.