Why Banks Should Be Focusing on Building Core Deposits
The banking industry is sitting on a record amount of deposits, but as post-pandemic life takes shape, many are arguing banks should be focused on retaining and attracting even more traditional, core deposits. Jeff Marsico, banking consultant, blogger and president of the Kafafian Group, makes the contrarian case for why building deposits makes sense in an era of high liquidity. He also discusses what mistakes banks are making right now, how the pandemic is changing institutions’ long-term strategies, and other lessons from his book, “Squared Away: How Can Bankers Succeed as Economic First Responders.”