Banking on Digital Growth 290) Think Less Like a Bank, More Like a Starbucks: Stopping Deposit Fragmentation
As liquidity concerns hover over several regional financial institutions in early 2023, deposit fragmentation remains one of the greatest threats to banks and credit unions. So how can financial brands fix the leakage?
James White, General Manager of Banking at Total Expert, argues retention is only half the battle. Financial leaders need to start asking where their customers’ money is going and why.
In this insightful episode of our Game Changer series, James gives some practical solutions for gaining and retaining deposits during the current banking crisis.
Join us as we discuss:
- How Starbucks leverages its loyalty program for deposits (4:00)
- Retaining customers through ROI forecasting and education (11:45)
- The deadly fallout from improper customer onboarding (19:54)
Check out these resources we mentioned during the podcast:
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