Winning the War on Deposits

Promotional deposit rates have been used extensively to attract new customers by offering special introductory pricing for a fixed duration. However, these promotions are typically offered as a "one-size-fits-all" - the same rate, promotional duration, and balance requirements are offered to all customers. Moreover, current systems require customers to go through complex processes to obtain promotional offers, such as requiring existing customers to open new accounts to receive the offer. Different customers have different needs and propensities. Through effective promotional pricing execution, banks can deliver differentiated promotional offers to various customer segments, across different channels, and at the right time. This results in higher customer experience, better customer retention, and higher revenue. In this educational webinar, we focus on how to execute precise, granular, analytically-driven promotional deposit pricing.