The prolonged period of taking deposit gathering for granted seems to be nearing an end.
Financial institutions have been awash in deposits for years, flush with liquidity. According to data from the Federal Deposit Insurance Corp, deposit balances at banks have risen by 35% in the past two years alone.
The bigger challenge has been finding ways to put those deposits to use in profitable ways.
Topics: Bank Consulting, Credit Union Consulting, Deposits, bank customer acquisition, credit union customer acquisition
With vaccinations ramping up and most businesses reopening this spring, it’s getting easier to envision a return to normalcy later in 2021. Even so, neither Main Street entrepreneurs nor bankers are quite ready to heave a sigh of relief.
As has been seen...and experienced, some need more assistance than others, and some have proven adaptable to new conditions, whatever comes next.
Topics: Vendor Contract Negotiation, Operational Excellence, Bank Vendor Management, Credit Union Vendor Management, Bank Consulting, Credit Union Consulting, strategies for credit unions, Consulting For Banking Operations, Consulting For Credit Unions
In two previous blogs, SRM detailed the top trends we see driving 2021’s financial services landscape. In this final Trends post, we turn our attention to an emerging one we have observed on both sides of the Atlantic, Open Banking.
Topics: Open Banking, APIs, Bank Vendor Management, Direct Deposit, Bank Consulting, Credit Union Consulting
