GSB-New Deposit Products Yielding Durable Competitive Advantage
In the dynamic landscape of financial services, the development of innovative deposit products is paramount for institutions to create and maintain a durable competitive edge. This session delves into the strategies and methodologies behind crafting new deposit products that attract consumer, commercial, non-profit, and government depositors while avoiding the interest rate wars.
Specific topics include:
- Understanding Market Dynamics: Analyzing market trends, depositor behaviors, and regulatory landscapes to identify opportunities for new deposit products.
- Innovative Product Design: Techniques for designing deposit products that cater to evolving depositor needs and expectations, enhance convenience, and offer unique value propositions.
- Technological Integration: Leveraging technology to streamline account opening processes, enhance digital banking experiences, and maximize operational efficiency.
- Marketing and Positioning: Developing targeted marketing strategies to effectively communicate the benefits of new deposit products and differentiate the institution in a crowded marketplace.
- Customer Engagement and Retention: Implementing customer-centric approaches to foster long-term relationships, encourage deposit growth, and minimize churn.
- How institutions become prepared for coherent, effective, and efficient negotiations as we leave behind the order-taker posture
Target Audience: Presidents, CEOs, CFOs, chief deposit officers, ALCO members, controllers, retail banking officers, customer experience, branch managers, marketing.
