Rates remain relatively high, competition is still fierce, it’s easier than ever for customers to move deposits. But winning based on rates alone isn’t sustainable.
For this 180-second thinking exercise, ask your management team or key stakeholders to focus on the future of deposit growth. What creative strategies could help attract and retain customer deposits, without simply raising rates?
As a reminder, these short exercises are all about idea generation over analysis. Let creativity take the lead.
Set a timer for 180 seconds and have your team generate as many ideas as they can for how your institution could grow deposits.
Consider:
- Behavioral incentives or loyalty rewards
- New products tied to savings goals
- Gamified experiences or digital nudges
- Partnerships or community-focused campaigns
- Your institutions business model (desired target markets and value proposition)
During the debrief, look for themes in your answers. What does your institution need to shift, from mindset to messaging to product mix, to stand out in today’s deposit market?
*Portions of this blog were edited with the assistance of AI.
