How to increase banks’ deposit pools

March 27, 2024
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How to increase banks’ deposit pools

To increase banks’ deposit pools, it is essential to enhance visibility into deposit activity by analyzing customer behavior and preferences.

Establishing a dedicated deposit command center can help streamline operations and improve efficiency. Developing a competitive pricing strategy and updating sales approaches can attract new depositors. Targeting deposits from cash-rich industries and implementing AI technology can also boost deposit growth.

Furthermore, banks can explore partnerships with fintech companies to offer innovative deposit products and services. Leveraging data analytics and investing in digital marketing strategies can help banks reach a wider audience and attract new customers. By continuously evolving and adapting to the changing financial landscape, banks can effectively grow their deposit pools and remain competitive in the market.

https://www.mckinsey.com/industries/financial-services/our-insights/winning-in-corporate-deposits-through-transaction-banking

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