We conduct a thorough review of your institution’s deposit pricing processes to evaluate your current deposit products, price setting processes, competitors’ pricing, and market opportunities.
A critical step in the process, our Initial Strategic Review forms the foundation of a successful deposit pricing program. A session is scheduled at your institution to educate your management and deposit team members on the keys to effective pricing processes and provide insight into improving your product mix, pricing and margins.
Abrigo provides in-depth iPrice training, so your entire team understands how to use iPrice to its full potential. Everyone learns how to:
• Update the model
• Create pricing rules and reports
• Develop deposit scenarios
• Modify rates
• Compare current and proposed strategies
• Manage marginal cost and profitability implications
• Back test past decisions
The long-term success of Deposit Pricing depends on ongoing review, revision and adjustments to your institution’s pricing rules and strategies. To assist your management team, your Abrigo Advisor will periodically lead key decision makers through a process of evaluating the success of previous strategies, identifying opportunities and revising pricing rules.