Battle for Bank Deposits Goes Beyond High Rates
Adam Stockton at Curinos discusses the importance of building stronger connections between consumers’ deposit and credit needs, and rethinking how banks build relationships in the future.
FEATURING: Adam Stockton, Managing Director of Retail Deposits at Curinos
Gone are the days of ultra-low interest rates when generating deposits and making loans was easy. Today, small and mid-sized financial institutions are battling for retail deposits after recent bank failures spurred a massive exodus of funds to larger players.
In fact, a report by S&P Global Market Intelligence noted that several hundred banking institutions, including a handful of large ones, are paying over 4% and even as much as 5% on certificates of deposit amid a general increase in reliance on CDs and increasing thirst for deposits.
My guest on the Banking Transformed podcast is Adam Stockton, Managing Director of Retail Deposits at Curinos. We discuss the importance of building stronger connections between consumers’ deposit and credit needs and rethinking the way organizations build relationships in the future.
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