8th Annual Retail Deposit Optimization and Strategic Managment Conference

26-28 February, 2020  | New York City, USA 

 For registration details and multiple attendee discounts, please contact:

Jeremy Wise
jeremywi@marcusevansch.com

Interested? Do you feel you will benefit?

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LOCATION

New York City, USA

ABOUT THE INTERVIEW

What are the key priorities in pricing Retail Deposits today?

Client-centricity has become a top priority in pricing retail deposits.  Not only are we faced with a unique economic current, but our competitive landscape is dramatically different than ever before.  Consumers have broad exposure and access to top national rates, fueled by direct bank competitors and digital channels of traditional players, and greater motivation to maximize value from their financial institution.  Digital tools have given consumers supreme purchasing power, and winning banks will maintain clarity on who serves who in the banking relationship, catering solutions and services to specifically address consumer demands.

This means that banks have to strike a thoughtful balance between optimizing marginal funding costs and broader value propositions that go beyond rate, in order to achieve sustainable customer growth.  Advanced data analytics and enhanced pricing tools will be essential in doing so, to meet demand at an individual level while maintaining portfolio profitability.  

What are the innovations in pricing across the industry?

Recent trends in retail deposits have included widespread use of promotional pricing and never before seen levels of cash offers for customer growth.  At the same time, the potential power of data and analytics has reached new heights, enabling customer-level pricing that will be necessary to respond to these broadly exposed acquisition tactics.  New tools to analyze and act on customer data allow us to better understand price elasticity, more effectively target acquisition campaigns, predict customer behavior, and inform client retention efforts, bringing a new dimension to portfolio management and providing material advantage to banks that invest in these capabilities.

How do you think pricing can improve retail deposits’ value?

Great question.  Not unlike other industries or consumer products, price is often an initial attractant for new customers, but sustainable value can be achieved by building more meaningful client relationships than can be attained with rate alone.  Smartly leveraging pricing to gain attention and consideration from potential new customers, while managing portfolio rates to maintain client satisfaction and deepen customer relationships, can best maximize retail deposit value.

What would you like to achieve by attending the 8th Annual Retail Deposits Optimization and Strategic Management?

Banks that most effectively harness the power of advanced data analytics can change the game significantly.  I’m looking forward to learning more about how others are leveraging these new capabilities in order to adapt and build best practices within my own organization that align to our unique customer value propositions.  And of course, spending time with peers and partners at what I believe is one of the most insightful and relevant assemblies within the industry.


 

Ahead of the 8th Annual Retail Deposit Optimization and Strategic Management Conference, we got the opportunity to speak with Brian Milton,  Head of Deposits and Business Strategy and Deputy Head of Consumer Banking, at MUFG Union Bank.   In his current role, Milton directly manages all deposit product, pricing, and portfolio management activities for Union Bank, and leads its innovation program – the San Diego Model Bank – and provides general executive support to all business lines and teams across the Consumer Banking line of business. In addition, he is responsible for overall business execution and customer growth through coordination of product development, marketing programs, analytical capabilities, and digital banking solutions serving consumer and business customer segments of MUFG Union Bank and PurePoint Financial. 

Prior to joining Union Bank in 2014, Milton served as Chief Accounting Officer for Private National Mortgage Acceptance Company (PennyMac), a specialty mortgage lender and asset management firm, and Executive Vice President of Finance and Strategy for Countrywide Bank. He began his career in financial services with Deloitte and Touche, LLP after graduating Magna Cum Laude from Northern Arizona University with dual degrees in finance and accounting. He maintains both Chartered Financial Analyst (CFA) and Certified Public Accountant (CPA) designations, and is active in his community, currently serving on the board of the Grant School Community Foundation, an organization dedicated to the protection of science and art programs for public schools. We are thrilled to have Brian as a keynote speaker and a panelist for this upcoming conference!

Brian Milton's Speaking Session

Methodologies to Optimize Pricing in the Current Environment (February 26th at 9:15 AM)

• Achieving a profitable marginal funding cost in today’s climate
• Innovative back book pricing to protect portfolio balances
• Driving primacy as a tool to ease deposit rate sensitivity


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