March 7, 2023
Category: Customer Retention, Deposits
In the previous deposits-focused article, we discussed how to detect and immediately act on anomaly deposits to keep those deposits from exiting the financial institution’s balance sheet. In this article, we’ll discuss asking existing customers/members for deposits held elsewhere, programmatically, because that’s always the first order of business. The most...
Read Article ›February 26, 2023
Category: Blog, Customer Retention, Online Banking
By Devon Kinkead As Ron Shevlin of Cornerstone Advisors likes to say, checking accounts have become “paycheck motels” – that is, temporary places for people’s money to stay before it moves on to bigger and better places. Given the all-out war for deposits right now by competing financial institutions, we...
Read Article ›August 5, 2021
Category: Blog, Customer Retention
It’s time for retail banks and credit unions to apply “teaser rate” thinking to refinance more customer/member loans held elsewhere in a manner fully consistent with Fair Lending Laws. Offering attractive refinancing rates to acquire more loans customers/members hold elsewhere rewards loyalty by lowering their borrowing costs. For the financial...
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