SOURCE: Market Rates Insight

Market Rates Insight

January 12, 2016 13:59 ET

Market Rates Insight Introduces TrendSpotter, Providing Banks and Credit Unions With Competitive Fee Trend Data for Benchmarking

TrendSpotter Reports on National Trends for Checking, Savings, Money Market Accounts, and CDs on ATM, OD, NSF, Wire Transfer, and Monthly Service Charge

SAN ANSELMO, CA--(Marketwired - Jan 12, 2016) -  Market Rates Insight, Inc. (www.marketratesinsight.com), the leader in financial services pricing intelligence for deposits, personal loans, mortgages, and fees, today announced the release of TrendSpotter, a new research tool that captures quarterly retail fee trends for banks and credit unions nationwide.

TrendSpotter provides financial institutions with key intelligence by monitoring trends for retail deposit fees, features, and requirements in the marketplace. When combined with internal key performance indicators, this historical fee data enables banks and credit unions to monitor fee trends and their impact on sales volume and revenue.

TrendSpotter can provide valuable insight, and information to better predict the impact of fee changes. By using TrendSpotter for competitive benchmarking, financial institutions can overlay their own fee pricing to create a trend line that shows how the competition affects revenue, attrition, and volume for their own fee-based products. The tool provides an ability to configure a fee, feature, or requirement trend based on filters that allow the user to identify a specific institution by type or asset size. The tool's flexibility provides the end user the ability to effectively track the competitive environment and impact of fee changes.

Samples of TrendSpotter data output include:

  • ATM fees charged on foreign transactions (also includes waived and rebated fees)
  • NSF/OD fees that can be filtered by market or size
  • Minimum balance or combined balance requirements to waive monthly service charges
  • Overdraft protection transfer fees

TrendSpotter is a unique tool that gives bank and credit union executives an understanding of retail deposit fee trends in the US marketplace. Data is extracted from Market Rates Insight's FeeBuilder, the first database of live retail deposit fees on over 2,200 FIs that tracks live data on overdraft, non-sufficient funds, monthly service charges, ATM fees, wire transfer, on checking, money market, savings, and certificate of deposit. 

"Fees continue to be an essential source of banking revenue, and TrendSpotter now gives bank executives the data they need to gain a true portrait of the competitive landscape for deposit fees," said Rick Barham, founder and CEO of Market Rates Insight. "TrendSpotter not only tells you about specific competitors but gives you the bigger picture of market trends over time. Using TrendSpotter data, bankers can identify weaknesses in their pricing strategy and areas where they are overlooking potential fee revenues. There's no other research tool like it on the market."

TrendSpotter makes its observations at the national level, and is issued quarterly on an annual subscription basis. For more information, visit http://www.marketratesinsight.com.

About Market Rates Insight
For over 30 years, Market Rates Insight has helped banking executives make better informed pricing decisions. The company serves banks and credit unions nationally with competitive information on deposits, consumer loans, mortgages, and fees. Market Rates Insight provides the most granular historical and refresh pricing data in the industry, helping financial decision makers plan and prepare for likely changes in rates and products. The company's cloud-based system provides timely and precise competitive data supported by usable graphs and charts.

Market Rates Insight is located in San Anselmo, California. For more information, see www.marketratesinsight.com.

Photos available upon request

Contact Information

  • Contact:
    Tom Woolf
    Market Rates Insight
    (415) 259-5638
    Email Contact