The best deposits price optimization solutions are decision-support solutions, in that they help humans make better decisions. It is only within recent years that advanced technology—such as predictive analytics and big data—has been available in a way that deposits manager could easily apply them to optimize their rates and hit their balance and profitability goals. Coming out of the long, flat, near-zero rate environment we have been in, most big banks, and a handful of large and regionals have tools in place and are ready to pounce as rates start to tick up. I am often asked what to look for when shopping for this sort of technology, and offer the following as a guide:
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