Correspondent Blog

In the trenches of the battle for deposits, banks have ratcheted up their tactics. While some banks pay customers a 4.25% interest rate for funds in a money market, other banks, such as Chase, Citi, Capital One, PNC, and others, pursue a tactic of offering a near-up-front cash bonus to open the account. In this…

Bankers often overlook how much money is stored in digital wallets away from their bank. While the amounts are relatively small on an individual basis, they are massive in aggregate. While some of these are stored at the banking-as-a-service banks such as Goldman Sachs, or The Bancorp, many digital wallets, like Starbucks, reside at the…

One of the lessons that was driven home at the recent American Banker Small Business Banking Conference in Nashville was the difference in marketing between large national banks and community banks, particularly deposit marketing. Most national and regional banks allocate marketing resources to recently acquired customers to get them to build deposit balances and purchase…