The March 2024 report highlights how financial institutions are prioritizing deposit growth amid competitive and economic pressures. About 80% of banking executives see onboarding as a key moment to increase deposits through cross-selling, incentives, high-rate accounts, and identifying funds held elsewhere. Challenges include competition, marketing, digitization, and interest rate conditions, requiring innovative strategies and strong marketing. Deposit acquisition is tightly linked to customer acquisition and retention, with institutions needing proactive approaches to attract new clients and maintain long-term relationships in an increasingly competitive environment.

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