The deposit business is a key revenue generator in the retail banking industry, yet many banks lack sophistication in pricing their deposits. PriceTek allows banks of any size to implement elasticity-based pricing by identifying the relationship between the bank's historical account level balance behavior and the bank's relative price position, by market and product.
Set strategies to identify opportunities for balance or spread growth
Qualytix has been helping banks price their deposits more scientifically to achieve greater levels of profitability on their deposits with 12 of the top 20 banks benefiting from our analytical pricing methodologies and tools. With PriceTek, banks can set pricing strategies for micro-markets and regions, and then monitor the effectiveness of those strategies.
Monitor performance and tune strategies
Using PriceTek software and databases, banks can identify the natural profit maximization point in each market and product and set strategies to identify opportunities for balance or spread growth. Once strategies have been identified, a series of reports are produced to set price points and monitor performance.
