In Part I (HERE), we got all Warren Buffet against the backdrop of Jimmy Buffet and explored how rising rates were starting to impact deposit balances. We questioned whether “surge balances” are in fact a thing and if they are, is this the time that we will see an exodus of balances move into other asset classes like fixed income, equities, real estate and capital spending.
Tag: Product Innovation
Last week, Suntrust introduced their new savings platform called e-Savings that allows customers to open multiple subaccounts tied to their regular checking account. What is basically a modern redesign of the Christmas Club account, the platform allows bank customers to segment their funds for specific purposes thereby giving savers more control and accountability.