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Rate Management for Retail Deposits: Gaining pricing flexibility while improving client experience | 2 Many retail banks lack the infrastructure to tailor deposit rates for clients. Inflexible legacy systems result in manual and subjective processes, which leads many banks to take a "one-size-fits-all" approach to deposit rates. Bank associates often select rates from a pre- defined list of options, making the decision based on their understanding of the situation, without really understanding what the client needs – in some cases, giving a client the lowest rate only to make them happy. These scenarios result in potential revenue leakage or the bank overpaying on interest. This also doesn't allow banks to enhance client experience. Having the ability to tailor deposit rates based on a client's needs and profile, along with the bank's strategy, will result in happier clients and improved loyalty. This ebook outlines how a rate management solution can benefit both the bank and the client, enabling banks to offer rates based on client segments and needs, ultimately resulting in more fair and accurate rates, and improved retention. Introduction

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