Deposit Optimizer Essentials
Case Studies
Why work with Curinos?
At Curinos, we combine market research, proprietary benchmarks, and deep industry expertise to help you understand your target audience, generate impactful concepts, and discover the perfect mix of marketing, product, and customer experience strategies. Our proven approach drives impressive growth in customer acquisition, retention, and engagement.
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Case Studies: Real Life Examples of Our Approach and Impact
Mid-Tier Bank | $10B in Assets
Client Situation: The bank had pursued an aggressive growth strategy, which led to high overall deposit costs. The bank needed to find ways to reduce rate expense while remaining on track with annual deposit targets.
Curinos Approach: With Essentials Analyzer and the support of Curinos Client Success, the bank was able to identify an opportunity to reduce rates in its Low Yield Savings book. Essentials Analyzer provided the bank with perspective on what true Savings portfolio rates were for peers, which the bank did not have prior to utilizing the benchmarking service. By using the Essentials Executive Dashboards, the bank could track performance on a weekly basis after executing the change and confirm that deposit levels were remaining on track with goals.
Curinos Impact: Reduced rates by 5 – 10 bp across 30% of Savings portfolio. Annualized savings of up to $458k, without having a negative impact on deposit levels.
Mid-Tier Bank | $10B in Assets
Client Situation: The bank had gone to market with a High Yield Savings offer with a goal of attracting new money to the bank. However, could only track the volume of newly opened accounts. The bank did not have a way to distinguish accounts funded with new money from accounts funded through deposit cannibalization.
Curinos Approach: Using the Flow of Funds metrics within Essentials, the bank became aware that more than two-thirds of deposits brought into this new offer were funded through cannibalization. The bank’s sales staff had been offering the product to all customers, thus awakening customers that would’ve otherwise been happy with lower yield products. The bank had also not been strictly enforcing new money requirements for the offer. Through sales training, the bank was able to tilt the focus towards new money acquisition.
Curinos Impact: Percent of deposit acquisition through new to bank money went from 25% per month to 75% per month. Annualized savings of $1.25M realized through stopping repricing of low yield paying deposits.
Mid-Tier Bank | $10B in Assets
Client Situation: The bank had a lead term deposit offer in a 21-Month CD priced at 4.75%, however was not seeing the requisite acquisition in this product to remain on track with its annual deposit growth goal.
Curinos Approach: Essentials Optimizer recommended that the bank go to market with a shorter-term CD priced at or above 5.00%, along with associated rate changes on its other acquisition products, based on models built from actual historical industry performance data. The bank shortened its lead offer term to 9 months and went to market with a rate of 5.00% and was able to increase acquisition to meet its growth goal without incurring additional annualized interest expense.
Curinos Impact: The bank was able to get back on track with its annual deposit growth goal without incurring additional interest expense.
