Winning the war for deposits: Strategies to drive real growth
Ryan Walker, SVP of Client Strategy at Kasasa, shares how community banks and credit unions can leverage innovative reward checking accounts to achieve sustainable deposit growth, lower costs and deepen relationships in today's challenging environment.
As banks and credit unions grapple with intense competition for deposits in a rising rate environment, many are finding that chasing high-cost CDs leads to unsustainable “phantom growth.” Institutions need a fresh approach to build low-cost, loyal core deposits.
Ryan Walker, SVP of Client Strategy at Kasasa — a financial technology and marketing services company that provides reward checking accounts to community banks and credit unions — has worked with hundreds of community financial institutions to implement reward-checking strategies that drive real growth.
In a recent webinar hosted by David Collins of The Financial Brand, Walker shared his insights on how banks and credit unions can change the math on deposit costs, perfect their go-to-market offers and manage surprises along the way.
Drawing on Kasasa’s 20 years of experience in rewards checking, Walker outlined a proven approach for institutions to thrive in the war for deposits without simply chasing rates. Here are the key takeaways.
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