Fiserv, a provider of financial services technology solutions, has launched BancStudy: Consumer Deposits, a new solution to enable banks segment and analyze their current customer base to develop effective strategies to drive deposit growth.

Fiserv claims that BancStudy: Consumer Deposits will enable financial institutions to get an in-depth perspective on their customers by analyzing demographic characteristics, lifestyle behaviors and buying patterns.

BancStudy: Consumer Deposits performs market penetration and product propensity analysis to give banks the answers they need to target high-growth consumer segments, position more relevant messages and provide new products.

It will also help banks better understand their customers and execute cross-selling initiatives by identifying current product penetration and propensity by segment; achievable product and household targets; and product penetration gaps by product, segment and branch.

By enabling banks to identify their most profitable customers, BancStudy: Consumer Deposits gives banks the opportunity to ensure that they are positioning products and services appropriately to those customers–making offers those customers are most likely to buy, introducing products and services that best meet their needs, and personalizing service and marketing messages.

Phyllis Pickel, executive vice president for corporate and relationship development at Sunflower Bank, said: “Organic growth is critical in today’s competitive banking environment and with the information provided by BancStudy: Consumer Deposits, we can pinpoint where there is existing opportunity in our current wallet share to expand deposits and our customer relationships.”