BAI Executive Report

Strategies for customer growth, deposits & retention

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The timing of an interest-rate change is anyone’s guess. That means your time is better spent on smart, longer-view strategies for growing deposits and pulling in customers who will stay with you for the bulk of their banking needs and as their financial transactions get more complex.

As we explore in our February BAI Executive Report, you might rethink what constitutes ideal customer primacy as younger banking generations transact differently, and across more digital options, than older generations. There’s little doubt about the value that Millennials and Gen Z hold for our industry. They need sound banking opportunities more than ever. Why? They’re only at the beginning of the largest transfer of wealth ever witnessed.

Articles in this report include:

Overcoming the allure of ‘hot money’
Banks have options to attract and retain deposits in a seductive, high-rate environment.

‘Digital’ is the love language of Gen Z and Millennial primacy
Forget what you thought you knew about customer primacy. Digital convenience, not interest rates or product roster, is how to attract and keep younger users.

Trillions in wealth is changing hands. How should banks capitalize?
Our Q&A with marketing expert Steven Ramirez digs into the early years of an inheritance handoff from Baby Boomers to digital-first generations.

The Great Deposit Refinance: Revolutionizing depositor engagement in banking
Sit out the rate war and instead use personalized communications that put the focus on a depositor’s overall financial health.

No bank is an island: 4 ways technology partners help deliver primary relationship status
Look for a technology partner that offers more than a single area of expertise.

From playlists to portfolios: There’s power in personalizing bank customer relationships
Consumers desire a banking journey that mirrors their individual story—one that guides and supports them through life's financial ebbs and flows.

Smart marketing and data leveraging: Navigating 2024’s financial services landscape
This year, an election and the Olympics make for a crowded messaging space, while interest-rate whiplash may confuse customers. And then there are regulations. Here’s how to strategize.

3 strategies, starting with fast onboarding, to help banks boost deposits
Remember: smarter customer attraction should not come at the expense of deepening existing relationships via highly engaged digital offerings.

Download this valuable resource to better prepare yourself and your team for the challenges and solutions around healthier deposits and attracting customers.