Now’s the Time to Pick Battles with Fintech Challengers
Challenger and digital-only banks are offering higher yields on savings and deposit accounts, which is proving to be painful for traditional financial institutions. Here’s how legacy banks can get ahead, says Kasasa’s executive strategist Ryan Walker.
FEATURING: Ryan Walker, Executive Strategist for Kasasa
Traditional banks and credit unions continue to face competition from challenger and online-only banks willing to offer higher yields for savings and deposits. However, now may be the perfect time to use market instability to build new banking relationships with innovative deposit and lending products.
In addition, banks can leverage an understanding of consumer behaviors to detect deposit-pricing sensitivities and tailor promotional offers to reach consumers most at risk of attrition and those who may move relationships to your organization.
We have Ryan Walker, Executive Strategist for Kasasa on the Banking Transformed podcast. Ryan shares how banks and credit unions target promotional deposit and loan offers to grow relationships without sacrificing profitability and margins.
Episode Sponsor
As the Fed continues to raise rates, an account with a compelling rate may have many consumers rethinking where their loyalty lies. In this podcast, you’ll learn how community financial institutions have a unique opportunity to use the instability to establish new banking relationships now that ultimately lead to primary financial institution relationships — generating more non-interest income, and higher loan volumes.
For more information visit https://www.kasasa.com/RisingRates
