Deposit Accounts, or Savings Accounts, are by most banks not considered as the most strategic area and perhaps mainly seen as a primary source of funding for creating attractive loan products to the end-users and using the interest rates earned to boost profits.
However, you have a lot to gain by having a Deposit solution that runs as smoothly and cost-efficient as possible.
For a state-of-art Deposit solution – these three attributes stand out as extra important:
- A flexible product engine – where the bank can easily and quickly adapt to the customers’ needs and market conditions to offer attractive savings services and thereby gaining more customers and a secure funding source.
- A system that is designed for self-service – you offer a great customer experience by giving fast responses whenever and wherever the customers want it, and at the same time, the cost-to-value is dramatically improved by system automation.
- A complete end-to-end solution in one system for greater efficiency.
By having a Deposit solution that is care-free, compliant, and operating smoothly in the background you can focus on creating new revenue streams.