Win the Fight for Deposits

Growing deposits isn’t just a goal for banks and credit unions – it’s absolutely necessary for sustainable revenue and customer retention. However, most traditional deposit growth strategies fall short due to:

• Limited Visibility: Financial institutions struggle to track where deposits are being lost to competition
• Ineffective Engagement: Generic marketing campaigns fail to resonate with customers who need relevant, personalized incentives to encourage them to make a switch
• Friction in the Process: The process of setting up or switching direct deposits is often cumbersome, leading to high customer abandonment rates

MX’s Direct Deposit solution helps you easily identify account holders without a direct deposit relationship or with deposits flowing to external accounts. Then, you can deliver the right targeted message to the right customer at the right time, turning more customers to your institution as their primary financial relationship.