With deposit stagnation, and interest rate declines, more banks are competing for less available deposits. Optimizing deposit growth strategies is as important as it has ever been.
Traditional banks must evolve their deposit strategies to compete effectively against digital challengers. By implementing targeted acquisition offers, relationship-based rewards, and personalized pricing, banks can attract, retain, and grow deposits while optimizing margins—all critical capabilities in today’s increasingly competitive banking landscape.
Solution Guide
Accelerate your path to deposit optimization
0.4% year over year increase
in aggregate retail and small business deposits across all U.S. branches.
2024 FDIC and NCUA Deposit Statistics
60%
of retail banks in North America believe that ‘the competitive threat from fintechs and other challengers are increasing’
“North American Retail Banking IT Pressures & Priorities 2024″ report by Celent.
In this guide, explore how Zafin’s solution can empower your bank to enhance deposit growth through strategic approaches, including:
- Attracting new customers by offering a range of financial and non-financial offers and rewards
- Extending your customer lifecycle value by incentivizing customer loyalty with personalized rewards
- Maximising your profit margin by optimizing your rate pricing with automated pricing strategies to optimize net interest margins
