$500M+ Raised in Deposits in Just 6 Weeks
How a Top U.S. Bank Transformed Its Deposit Growth Strategy
Ranked by S&P Global Market Intelligence as a top-performing bank, Merchants Bank of Indiana raised over $500 million in deposits in just six weeks—and reached $680 million in under a year.
This wasn’t just growth.
It was a strategic transformation.
Through a new approach to online account opening, Merchants Bank:
- Increased deposit growth at scale
- Strengthened fraud prevention capabilities
- Boosted automation and back-office efficiency
- Reduced account opening costs by 60%
- Achieved an industry-leading efficiency ratio