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Leaders in Lending | Ep. 106

Deposit Management in a Post-SVB World

Angela Conti, Head of Deposits and Retail Payments at USAA, and James Morgan, Head of Deposit Product, Pricing & Portfolio Strategy at Capital One, join the show to demystify deposits and post-SVB uncertainty.

Angela Conti-modified (1)
James Morgan-modified


Angela Conti

Angela Conti's role as Head of Deposits and Retail Payments at USAA includes accountability for deposit and payment products, member experience and P&L performance. Conti leads a diverse, cross functional team that deeply understands member needs and creates solutions to advance member financial wellness. With over 23 years of customer-centric experience, Conti is a strategic leader across product development, new customer acquisition, existing customer marketing, loyalty rewards, customer service and retention. She has deep expertise in direct marketing through digital, in store, phone, media and print channels and a unique ability to connect consumer insights with relevant data to create breakthrough growth strategies.



James Morgan

James Morgan is an executive banking leader and product strategist with an extensive track record of leading winning product organizations, managing a $230B deposit portfolio and driving over $5B in annual revenues. Morgan has delivered breakthrough value and access for banking customers via compelling products, policies and best-in-class digital experiences. Morgan has a passion for combining analytics, data-driven insights and human-centered design to breathe new life and fresh approaches into seemingly mature businesses.



CBA Live

Marking its 14th year in 2023, CBA LIVE is the must-attend annual event for the retail banking industry. Hundreds of senior bankers and industry leaders gather from across the country to experience this premier event.  CBA LIVE offers top-notch programming tailored toward professionals motivated to learn new trends and share ideas with the most influential decision makers in the business.






Key Topics Discussed

  1. The lingering effects of the pandemic still influencing deposit behavior

  2. Illuminating the benefits of digital acquisition
  3. What organizations can do to maintain a competitive edge


Though deposits at many institutions are down while uncertainty around the future is growing, Jeff sits down with two experts in the deposits space who offer strategies for organizations to thrive in the current financial climate. 

Angela Conti, Head of Deposits and Retail Payments, USAA, and James Morgan,  Head of Deposit Product, Pricing & Portfolio Strategy, Capital One, join the show to demystify declining deposits and post-SVB uncertainty.

We discuss:

  • The lingering effects of the pandemic still influencing deposit behavior
  • Illuminating the benefits of digital acquisition
  • What your organization can do to maintain a competitive edge

The lingering effects of the pandemic still influencing deposit behavior

In a post-stimulus world, the deposit landscape continues to fluctuate. After watching the state of saving accounts rise with stimulus payments, the industry has seen pent-up demand flood out into increased spending. 

“As we reflect on where we are today, we see continued spending and movement in the balances,” Conti said. “The pandemic was that seismic change. Certain things about consumer behaviors are persisting — the move to digital is a silver lining in all this.”

While a surge of spending was expected after lower rates of general expenses, it took much longer than anticipated to normalize. The deposit landscape is not a stranger to extreme cycles, yet the full effects of the SVB failure and the pandemic are still unfolding.

Sentiment around sticking with a banking relationship largely depends on what other assets are attached to a bank, even amid tumultuous times.

“If you've got a sense of safety and security and there is convenience in that account — you've got other elements set up, you might have your bills automatically deducted from that account, you might have other relationships — those elements matter as well as rate, it's not only rate,” Conti said. 

Illuminating the benefits of digital acquisition 

A chief result of the pandemic is the increase in digital acquisition. Though consumers recognize the benefits of this model, there is still a lot to do regarding long-term growth and stability with digital banking.

To sell the pros of digital-based services takes active steps showing fraud prevention measures, ease of use and more — there must be trust.

“Post-pandemic, you're looking at a world with a higher demand for digital fluidity and ease of service,” Morgan said. “Capital One has been on that journey for a long time. The underbelly of that is we're also protecting from fraud.”

Expanding digital acquisitions is a battle for data and capability while minimizing false positives, a balancing act of simplicity and complexity — enough protection for peace of mind, yet not so much friction that it drives away creditworthy customers.

Managing those percentages is a prominent challenge in the deposit space and is part of what makes it such a dynamic and competitive landscape today.

What organizations can do to maintain a competitive edge

What is the most critical knowledge banks have when managing deposits and leveraging data? The answer is simple: remembering fundamentals. 

“You've got to understand and appreciate the fundamentals. You've got to control and watch that data and watch the behavior so that you're not caught off guard or surprised,” Conti said. 

Banks need to determine their core deposits; not every deposit will be rate sensitive. People will still have money in their operating and checking accounts and may still have lower-dollar savings accounts, along with goals they're saving towards. 

Monitoring those levels and ensuring all solutions are meaningful to target customers is one of the top obligations of a bank. 

A few key questions to ask for a competitive edge:

  • What is of interest to your target customer?
  • What is important to those customers?
  • Are your solutions aligned with those needs?

“The fundamentals around primary checking, and that core operating account — there's not much more important than, ‘I worked hard to earn this money, I need a safe and secure and easy way to store it.’ Those fundamentals are going to persist, I don't see that core becoming overly volatile in the future,” Conti said.

Being thoughtful when managing a deposit book can mean all the difference and lead to more prudent lending alongside happier customers.  

Stay tuned for new episodes every week on the Leaders in Lending Podcast.


Stay tuned for new episodes every week on the Leaders in Lending Podcast