South State Correspondent

JANUARY 17, 2024

In our last article ( HERE ), we highlighted the methodology around why banks should calculate and drive value through customer profitability and product profitability. Here, we discuss the importance of knowing bank product profitability and productivity. Both banks, for example, had about $150B in deposits. increase in M/B.

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The Paypers

JULY 8, 2022

US-based Varo Bank , a digital banking option, has launched with the aim of supporting consumers with its high-yield savings account consumer-first products

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Digital Banking US 31

South State Correspondent

OCTOBER 4, 2023

The approach is a mess, yet it is done every day in banking. In this article, we will show you 15 proven deposit marketing campaigns that will rack up deposit-gathering wins while building a high-performing bank in the process. Marketing is one of the largest value drivers in banking. Marketing can.

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BankDeals

FEBRUARY 10, 2021

Ponce Bank is offering a cash bonus for new customers who open and fund a savings account via SaveBetter. New customers can earn up to $150.

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The Financial Brand

MAY 24, 2023

This article Unique Youth Savings Account Aims to Hook Gen Z and Gen Alpha on This Bank appeared first on The Financial Brand. A Massachusetts community bank puts a creative twist on savings accounts — and offers 5% interest! — to reel in young people and make them lifelong customers.

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Massachusetts Community Bank Branding Community 29

Bank Innovation

FEBRUARY 6, 2020

Ally Bank is taking a page from fintech startups by rolling out auto-save features to encourage better money habits among its customer base. This week, the digital bank rolled out Buckets, or digital savings envelopes; and Boosters, which are automated contributions to savings accounts that can be tied to any U.S.-based

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Digital Banking Fintech Retail Payments 312

Perficient

NOVEMBER 17, 2023

In our previous article, “ Transaction Accounts: Analyzing Deposit Stickiness in the Current Interest Rate Environment ,” Perficient’s Financial Services Risk Management and Regulatory Capabilities Center of Excellence (CoE) explored the sharp decline in transaction account balances over an 18-month period.

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South State Correspondent

SEPTEMBER 30, 2022

The per year, per depository account cost of deposit sales and marketing by-product, can be seen below: A couple of items jump out at you when analyzing the above data. First, it makes sense that banks spend the most marketing dollars on business checking and money market accounts. CDs are much the same way.

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Operations Marketing Data Analytics 361

The Paypers

APRIL 20, 2021

Virgin Money Australia has launched its own digital bank with new savings and transaction accounts, according to savings.com.au.

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Digital Banking 37

Bank Innovation

FEBRUARY 28, 2020

Dobot, the automated savings platform acquired by Fifth Third in 2018, is working to help its users save $425 million since it launched with the bank just over a year ago. The app lets users put away funds toward savings goals of their choice.

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Tools Customer Experience Management Retail 284

The Paypers

NOVEMBER 12, 2021

India-based fintech company Niyo , in association with SBM Bank India and Visa , has announced it now offers a digital savings account with Niyo Global.

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Bank Innovation

OCTOBER 4, 2019

Credit Karma has joined the high-yield savings race. The 12-year-old personal finance company, which is now worth $4 billion, announced the savings account product this week, which will roll out to U.S. The FDIC-insured savings account is offered through custodian MVB Bank. customers on Oct.

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Bank Innovation

OCTOBER 4, 2019

Credit Karma has joined the high-yield savings race. The 12-year-old personal finance company, which is now worth $4 billion, announced the savings account product this week, which will roll out to U.S. The FDIC-insured savings account is offered through custodian MVB Bank. customers on Oct.

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PYMNTS

JUNE 9, 2020

Affirm has debuted a high-yield savings account called Affirm Savings, according to an announcement. Now, consumers get the same transparency in a savings account, so they can save more, faster.”. The Affirm Savings account comes with 1.30

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FDIC Millennials Google Payments 151

Bank Innovation

FEBRUARY 4, 2020

As digital challenger banks expand their product suites, large players like HSBC are quickly evolving their digital offerings to attract and retain customers. The bank recently rolled out a digital personal loan product, a high-yield savings account and Treasury APIs to speed up payments for business clients.

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Payments Customer Experience Management Innovation 368

South State Correspondent

JULY 19, 2020

HMBradley is a fintech that has partnered with Hatch Bank, a subsidiary of Firstrust Bank ($3.7B, PA), to offer two innovations that we have talked about in the past, but few banks have executed. In this article, we will cover both ideas for your bank’s consideration. . A New Way to Tier Deposit Accounts

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Bank Innovation

FEBRUARY 19, 2020

Level, a digital banking startup based in San Francisco Calif., savings account annual percentage yield. The company, which launched its products nationally Wednesday, is coming into the market as fintech startups like Wealthfront, Betterment and Varo are touting high-yield savings accounts to vie for market share.

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San Francisco National Digital Banking Fintech 259

PYMNTS

OCTOBER 21, 2020

A New York-based startup is shaking up the stodgy world of banking by offering customers a chance to win prizes as an incentive to save money. Adam Moelis , co-founder and CEO of Yotta Savings , told PYMNTS that the idea of rewarding savers makes sense, given how much people love to play the lottery but struggle to sock money away.

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South State Correspondent

NOVEMBER 29, 2023

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. Many banks fall into the “recency trap.” There is a reason for this.

Marketing 195

Marketing Regional National Nashville 195

Bank Innovation

FEBRUARY 28, 2020

Dobot, the automated savings platform acquired by Fifth Third in 2018, is working to help its users save $425 million since it launched with the bank just over a year ago. The app lets users put away funds toward savings goals of their choice.

Tools 195

Tools Customer Experience Management Retail 195

The Paypers

OCTOBER 5, 2021

India-based Axis Bank has announced offers for its new to bank customers of ASAP Digital Savings Accounts.

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Bank Innovation

DECEMBER 4, 2019

Koho, a Toronto-based digital banking startup, is on track to expand its product suite to include credit and savings products in 2020, CEO Daniel Eberhard told Bank Innovation on Wednesday. In late November, the […].

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Tools Digital Banking Innovation Cards 332

Bank Innovation

FEBRUARY 19, 2020

In Silicon Valley, entrepreneurs and venture capitalists are making big bets that the future of banking is digital, doesn’t have fees, offers a high savings rate—and might not technically be a bank at all.

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Report Financial Technology Cards Technology 312

PYMNTS

MAY 1, 2020

A Bureau of Economic Analysis report released on Thursday (April 30) indicated that the savings rate escalated to 13.1 Comparatively, the savings rate in February was 8 percent. The savings rate peaked at 12 percent in December 2012 but dropped to 5.8 People are saving more despite low interest rates that won’t that yield much.

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Analysis Conference Survey Report 238

South State Correspondent

OCTOBER 18, 2023

Community banks can maximize profit and increase loan balances using innovative grid-based pricing for their commercial clients. Fundamentally, FTP divides a bank’s overall net interest margin (NIM) into two significant sub-margins (one for deposits and one for asset origination).

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Community Bank Community Industry Operations 195

American Banker

APRIL 9, 2024

Some online banks that offer high-yield savings accounts are making those products a little less high-yielding. Banks are also shortening the duration of new CDs, hoping that anticipated rate cuts by the Fed will enable them to start paying less to consumers.

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Online 83

BankDeals

APRIL 19, 2021

Porte is a brand of the financial technology company (fintech) Populus Financial Group that has partnered with MetaBank to offer unique checking and savings accounts.

Financial Technology 52

Financial Technology Branding Groups Fintech 52

PYMNTS

MARCH 6, 2020

San Francisco-based Empower Finance, a mobile banking app aimed at helping millennials save wealth, has raised $20 million in a Series A funding round led by Defy Ventures and Icon Ventures, according to a report. It offers a savings account with a 1.6 The digital banking field is fraught with competition.

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Millennials Digital Banking San Francisco Capital 251

PYMNTS

NOVEMBER 14, 2018

Tandem Bank, the U.K. mobile bank , announced on Wednesday (Nov. 14) a new automatic savings service that will be powered by global payments platform Stripe. Users can create sets of rules, such as rounding any payment up to the nearest pound, to make saving each week effortless. Auto Savings is a big step for banking.

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Data Mobile Management Technology 172

PYMNTS

MAY 26, 2020

With features such as free cash deposits and a high-yield savings account, Walmart and Green Dot unveiled updated benefits for the Walmart MoneyCard Reloadable Debit Card program. Now more than ever, consumers are looking for ways to manage their money for less, while saving as much as they can. “Now

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Management Cards Retail Mobile 221

PYMNTS

OCTOBER 4, 2019

Credit Karma , a company that enables people to gain access to their credit scores, is launching a high-yield savings account that customers can use through an app and online. CNBC reports that the savings account won’t have any fees and will not require a minimum balance to open. It offers a savings rate of 2.03

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West Virginia Virginia FDIC Taxes 132

BankBazaar

JANUARY 15, 2024

This blog navigates the complexities of smart savings, emphasising the power of compound interest, tax-efficient tactics, and the integration of technology to empower people to succeed in safeguarding their financial future. One key element in building a strong financial foundation is the art of saving.

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Strategy Taxes Cards Security 78

PYMNTS

JANUARY 19, 2021

s first publicly traded neobank, with a branchless digital-first approach to financial services that comes right as the pandemic has forced branches to close, and banking across online platforms is gaining critical mass. High-Yield Savings. In an interview with Karen Webster, Anuj Nayar , vice president and U.S.

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Digital Banking Cards Digital Strategies Survey 290

PYMNTS

NOVEMBER 19, 2020

Citi and Mastercard are teaming up as network partners for the digital checking and savings account Citi Plex on Google Pay, available for both Android and iOS. . Alpesh Chokshi, head of business development, Citi Global Consumer Bank, said in a statement on Wednesday (Nov.

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Google ATM America Digital Banking 284

BankDeals

OCTOBER 11, 2021

It's not clear if online-only banks that have no branch network have a significant rate advantage over online banks that have a branch network.

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Qudos Bank

FEBRUARY 15, 2024

Amidst the rising cost of living in today’s economy, saving money has become more challenging for some.Over the past 12 months until June 2023, Australia’s Consumer Price Index (CPI) has surged by 6.0% Here are seven practical strategies that can aid in boosting your savings amidst the rising cost of living.

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PYMNTS

JUNE 10, 2020

Goldman Sachs’ consumer digital bank Marcus is facing a nice problem to have (at least on the surface) in Britain. News emerged Wednesday (June 10) that the unit isn’t taking any more applications for savings accounts because demand has been so high that the volume is pushing against U.K. savings accounts.

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