Promotional deposit rates have been used extensively to attract new customers by offering special introductory pricing for a fixed duration. However, these promotions are typically offered as a “one-size-fits-all” – the same rate, promotional duration, and balance requirements are offered to all customers. Moreover, current systems require customers to go through complex processes to obtain promotional offers, such as requiring existing customers to open new accounts to receive the offer.
Different customers have different needs and propensities. Through effective promotional pricing execution, banks can deliver differentiated promotional offers to various customer segments, across different channels, and at the right time. This results in higher customer experience, better customer retention, and higher revenue.
In this webinar, FICO will discuss best practices for executing precise, granular, analytically driven promotional deposit pricing. Attendees will obtain a blueprint to deliver more customer-centric pricing by answering questions like:
The webinar will bring it all together for deposit pricing managers and product managers. There is a battle for consumer deposits. Be prepared to defend and grow your deposit base.
Ashwin Gurnani, Global Deposits Practice Leader, FICO
Glenn Grossman, Principal Consultant, Global Deposits Practice, FICO
FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956 and based in Silicon Valley, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 150 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 100 countries do everything from protecting 2.6 billion payment cards from fraud, to helping people get credit, to ensuring that millions of airplanes and rental cars are in the right place at the right time. Learn more at www.fico.com. Join the conversation at https://twitter.com/fico & http://www.fico.com/en/blogs/. FICO is a registered trademark of Fair Isaac Corporation in the US and other countries.