Rethinking digital account acquisition with high-yield savings

Rethinking digital account acquisition with high-yield savings

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It’s a reality that many financial institutions are starting to face: The digital checking account boom is not as profitable as it might seem. Offering free checking accounts online may seem like an attractive entry point, but it comes at a high cost. These accounts typically attract low-balance, low-engagement customers, and while they may temporarily boost deposit numbers, they rarely generate the kind of long-term growth banks need.

So, what’s the alternative?

Kathleen Craig
Kathleen Craig
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