Question
The financial group in question has long been doing car leasing, but has acquired a banking license to do car loans. Deposits are needed to fund the loan business. However, it's very hard to build a considerable flow of leads for deposits as the surveys show that the customers are wary of pitting their hard earned cash into an unknown bank. What should be done to attract more customers?
Answer
You have asked the golden question. As a business banker, we all struggle with getting deposits. Going after key industries (escrow companies, property management, HOA's, etc) will help in this. However, there are many options to help get deposits. I'd be happy to hop on a call and talk about this. I just signed up with Clarity yesterday. So I'm still learning the platform.
