BSG Financial Group webinar to offer community financial institutions new strategies to grow and retain properly-priced retail deposits
Session to reveal three new approaches that go beyond pricing specials to attract new depositors
LOUISVILLE, KY (July 19, 2018) — BSG Financial Group, a leading provider of revenue-enhancement programs and compliance solutions for financial institutions nationwide, will present a webinar on Tuesday, July 26 at 2:00 p.m. EST entitled, “Growing Properly-Priced Retail Deposits.” The free webinar—which is part of an ongoing educational series that the company provides for its clients and potential customers—will offer community financial institutions tangible strategies that go beyond pricing specials to grow and retain retail time deposits (CDs) in this highly competitive environment.
BSG Financial Group is offering this free webinar as a way to educate financial institution executives about how to respond to the intense competition today for retail deposits among community financial institutions, driven by: the increasing cost of wholesale funding; the aggressiveness of online alternatives; and the demand for retail deposits by large banks due to regulatory changes.
In the webinar, speaker Neil Stanley, CEO & Founder of The CorePoint, a leading provider of CD pricing and sales software & procedures to financial institutions across the country, will reveal three new approaches to attract, negotiate and expand the focus beyond interest rate in order to grow significant volumes of properly-priced long-term retail deposits.
“Retail deposits must be simple, safe, and predictable,” said Stanley. “However, some innovative financial institution executives are proving that meeting these qualifications does not mean offering the same conventional products as everyone else today. The strategies I discuss give institutions a great leg-up and depositors respond when they see the value these new approaches provide.”
Among the tactics Stanley will introduce and explain in the webinar are:
- Attracting New Depositors by Promoting Companion Deposit Accounts
- Negotiating “Right-Sized” Penalties to De-Emphasize Interest Rates
- Growing Aggressively by Refinancing Time Deposits Before Maturity
In addition to explaining these concepts, Stanley will also provide case study results from financial institutions that have implemented the tactics.
In conjunction with the webinar, The CorePoint is offering webinar attendees a no-obligation Time Deposit Performance Assessment, which is an analysis of the profitability of an institution’s new and renewed CDs. The analysis is based on only six data fields—none of which contains Personally Identifiable Information (PPI)—the institution provides to The CorePoint.
“Many financial institutions today are banking on the idea that retail depositors will remain content as interest rates rise,” said Jeffrey Harper, president of BSG Financial Group. “However, the institutions that will come out on top in this competitive market are those that utilize new sales processes, products and tools to offer better deposit products. We are thrilled to facilitate their success through this educational webinar.”
Who: BSG Financial Group in conjunction with The CorePoint
Presenter: Neil Stanley
When: Thursday, July 26 at 2:00 pm EST
Registration: http://www.bsgfinancial.com/RightCDPrice
Who Should Attend: Chief Executive Officers; Chief Financial Officers; Chief Retail Officers; Chief Marketing Officers
About BSG Financial Group
Louisville, Ky.-based BSG Financial Group is a group of independently organized companies that provides revenue-enhancement and compliance solutions for financial institutions nationwide. BSG Financial Group has been a provider of innovative overdraft programs since 1999, including the industry's first cloud-based overdraft management solution, Courtesy Connect®/Courtesy Limit™.
The company's additional revenue-enhancing solutions include: Fee-Based Packaged Checking Accounts; Digital Lending Solutions; Vendor Management; Social Media Management; and CD Pricing and Selling Strategies. For more information, please visit http://www.bsgfinancial.com.
About The CorePoint
The CorePoint was launched in 2010 – built by bankers for bankers – and is located out of Omaha, NE. The CorePoint offers a combined approach through strategic and patented processes, frontline training, and a unique technology platform. The company now serves financial institutions across the country and is invited to present at local and national conventions as the expert in CD management and sales. For more information about the company, visit http://www.thecorepoint.com.
