This marcus evans conference will enable institutions to adapt their deposit strategies to attract customers in the current low interest rate environment, while preparing for impending rises to rates. They will learn the best strategies to price deposits effectively, and adapt their product strategies to be prepared for the impact of further regulatory changes, such as open banking and PSDII. Finally, they will learn how to best incorporate non-traditional savings products into strategies to best understand and meet the needs of their customers.
Retail deposits have always been one of the core products for banks. However, with low interest rates meaning poor returns to customers, it has proven trickier to attract customers to invest in savings. In addition, the increasing ease of switching mean customers can easily switch their banks and find more attractive rates, something that will only be exacerbated as new regulations for PSDII and open banking increase transparency between products. Institutions need to ensure they are prepared for future rises in interest rate, while adapting their products to best meet new regulations.
Comments