Banks Struggle to Attract Deposits as Loan Growth Continues to Rise

Loan demand has increased in recent quarters and now banks find themselves struggling to gain enough deposits to match the growth; competitive rates from other banks and new digital only banks have banks looking at new ways to grow deposits; banks are moving away from brokered deposits, increasing rates on certificates of deposits and creating their own digital brand to increase growth; digital channels will most certainly play a bigger role going forward as the competition will continue to grow and become more fierce. Source.