One time-honored way to set interest rates on deposit accounts is to look down the street at the rate your top competitors are offering, then offer a point or two above or below that, depending on how much you need liquidity.

Another, more complicated and expensive but maybe more effective way that a handful of banks including Fifth Third are trying is an analytics-based approach. This takes into account factors such as the customers' past behavior, the demand curve (the point at which customers will leave for better rates), interest rates and the modeled forecasts of the effect of price changes on deposit flows, as well as competitors' prices.

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