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Articles by Pete Gilchrist
Achieving Profitable Deposit Growth in the Age of AI
Why Decision Intelligence Is Becoming Banking’s Next Competitive Battleground This article is adapted from a presentation given by Curinos Chief Business Officer Pete Gilchrist and Curinos Managing Director Bob Warnock on May 19 at Citi’s 2026 Beyond the Basics Conference. Growing deposits is hard, expensive and getting more so. Loan volume is up almost 8% in the last five years, but deposits haven’t kept pace—up only 3%.
Greater Profitability In 2025 And Beyond
From “Greater Profitability in 2025 and Beyond: Ingredients for Success,” a Curinos webinar on August 22, 2024, presented in conjunction with Consumer Bankers Association and featuring Curinos executive vice president Pete Gilchrist and Curinos senior vice president Olivia Lui. Challenges 1. Compressed margins and slower non-interest revenue growth have led to suppressed returns. Virtually all industry indicators continue to display challenges for the banking industry in 2024.
Growing Deposits Is Getting More Expensive Across The Board
The price for new deposits keeps climbing for banking institutions – especially for those dependent on consumer accounts – as high interest rates and pitched competition continue to reprice back books across the industry. We expect this trend to continue well into 2024. The latest numbers from the Curinos Deposit Analyzers show the average marginal cost of funds (mCOF) for new consumer deposits exceeding 11% at the end of 2023 (see chart), up nearly a full percentage point from two months earlier.
Deposits In ’24: It’s Gonna Cost You
2024 will be a great year to grow deposits for any institutions ready to spend big. For many or even most banks and credit unions, more modest goals may make more sense. Commercial and small business deposits are much cheaper than consumer on a marginal-cost basis, but elevated churn is an issue for commercial, and scale limits small business.
Profits Are Challenged. Cultivating Relationships Can Help.
In late February 2023, Curinos was asked to spend 15 minutes presenting to a group of CEOs about the state of the U.S. deposit market. Because of some pesky quantitative tightening-driven balance declines and accelerating betas, the group was reacting to a funding market that looked much different than the pandemic-era baseline of bottomless cheap funding. “Keep it simple!” warned the conference chair, these are CEOs, not analytical wonks. Fast forward to today, June 2023.
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