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