Solution Standouts
Understand deposit flows and transitions within the portfolio at a granular level
Uncover price sensitivity and the impact of competitor pricing at various segment and product levels to improve forecasting accuracy and inform strategy
Harness industry expertise to craft growth-oriented strategies tailored to your specific needs
Business Impact
- Elevate your deposit strategy by leveraging data-driven insights to inform pricing and product decisions, ensuring competitiveness and relevance in the market.
- Mitigate balance cannibalization within your deposit portfolio through strategic optimization, maximizing profitability and sustainability.
- Fuel deposit growth with targeted acquisition strategies designed to attract and retain high-value customers, propelling your institution to unparalleled financial success and market prominence.
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CHALLENGE
A large North American credit union faced challenges in tracking and understanding the detail of deposit flows into, out of, and between their products. This made it difficult for them to accurately assess the true impact of their promotions on attracting new deposits and growing member relationships.
SOLUTION
The credit union partnered with Nomis to develop “Flow of Funds” analytics, aimed at gaining a clearer understanding of the movement of funds within their portfolio and the true impact of their deposit acquisition and deepening campaigns. Through this partnership, Nomis created models to predict the expected outcomes of future promotions and the transition of money within the portfolio. Additionally, Nomis built models to help the credit union identify the types of customers likely to bring in new money versus those who might move funds from existing products. This enabled the institution to more precisely target areas for portfolio growth.
OUTCOMES
Better understanding of results from promotions, campaigns, and rate changes
More accurate identification of new money versus internal account transfers
Increased deposit acquisition campaigns through data-driven targeting