Deposit Growth Levers

The typical distribution plan for insured sweep products follows a multi-pronged approach:

• Retention: Minimize attrition and runoff by tactically offering Insured Sweep Accounts to clients who express concerns about their uninsured deposits. With Insured Sweep Accounts, a bank can offer better security than its "too big to fail" banking peers, with deposits backed by the full faith and credit of the U.S. government.
• Deepening: Increase share of wallet with clients who have less than $250k, but are likely to have more funds at various competing financial institutions. A bank can utilize Insured Sweep Accounts as a way to win these clients’ full book of business and capture the entire relationship as a full-service, secure banking partner.
• Growth: Expand and diversify your deposit base by targeting new client opportunities across business, high-net-worth individuals, nonprofits, public funds, and more. Insurance has become a top priority for business owners and high-net-worth individuals alike. Moreover, public funds are required by law to be collateralized or insured, and nonprofits often have as part of their founding charters a mandate that their large donation accounts be protected as well. With Insured Sweep Accounts, you are well-positioned to attract new clients and deposits across each of these client archetypes.