2023 Outlook for Deposits: Three Action Items
The ability to lag deposit pricing is clearly over and retaining balances, let alone growing new funds, will be a challenge.
The predictive functions of Deposits360°'s credit union and bank deposit analytics bring science to what has historically been a looser art form of linking pricing decisions to growth and retention. Under the guidance of DCG's team of data science professionals – and backed by the power of one of the industry's largest data assets – Deposits360° enables users to clearly see the tradeoffs of optimizing the P&L impact of pricing decisions today with deposit growth trends in the years to come.
Relationship value is often discussed, but not usually managed with actual data. With Deposits360° data-driven deposit relationship insights, users are armed to create better informed pricing and retention strategies.
Do some branches do it better than others? Deposits360° helps uncover branch level strengths that help improve overall branch network success.
As the business environment changes, so do the needs and wants of bank and credit union customers. Deposits360° segmentation and migration analytics help users understand the flow of existing relationship money on a timely basis, so they can respond to changing trends in real time.
Does your deposit promotion strategy yield the intended results you were hoping for in regards to growth and retention? Deposits360° brings easy to access focus to the effectiveness of your deposit strategies.
Deposits360° combines easy to use dynamic deposit base analytics with multi-level data drill-down capabilities that enable users to unlock their deposit base. Deposits360° users can:
Track non-maturity and time deposit migration
Quantify deposit cannibalization and measure marginal cost of funds
Analyze attrition and improve deposit retention
Segment their deposit base (bank-branch-product-customer-relationship demographics)
Identify funding concentrations and analyze key/large accounts and households
Uncover insights for pricing decisions and new product development
Measure success of new product introductions
Develop early warning systems for identifying “at risk” customers
Drill down all the way to customer & account levels
Deposits360° puts the power of dynamic, on-demand analysis directly into the hands of your institution's users.
Video: 3 Minutes
Build segmentation using customized ranges or use pre-configured dashboards to answer specific business questions.