The Battle for Retail Banking Deposits Goes Beyond High Rates
Banking Transformed with Jim Marous
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The Importance of Building Relationships
There needs to be a very strong emphasis on building relationships, especially at a time when current customers are very easily dividing their relationships. A primary checking account gives you a permission to cross sell and be stickier lower cost deposits. And so shifting that focus from we're not just trying to get the checking account, we need to make sure we pull in as many deposits as we can becomes really the utmost importance.
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