The SaveBetter portal offers US banks national reach for distribution of their retail deposit products, thus providing Americans better user experience when shopping for FDIC-insured savings products. The platform brings an important innovation to the USD 16 trillion local deposit market. Retail deposits are a key funding source for US-based banks as they exhibit many positive behavioural characteristics, such as granularity and stability, according to the official press release.
With SaveBetter.com, banks can distribute their retail deposit products beyond their local market to reach savers nationwide without relying on an institutional intermediary. By managing the whole operational execution of the funding process, including marketing and customer service, Deposit Solutions provides banks with a full service solution to gather retail deposits. Customers can deposit money on SaveBetter.com without having to open a new account with every bank.
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