Live Access to Competitive Research On Latest Rates for Deposits, Loans, and Fees Helps Financial Institutions Stay Competitive in Volatile Market
United States of America (Press Release) March 24, 2008 --
SAN ANSELMO, Calif. (March 25, 2008) – Market Rates Insight (MRI, www.marketratesinsight.com/new), a leading research firm that tracks rates for deposits, loans, and fees to help financial institutions price with precision, today announced the release of MyRI, a new, Internet research portal that gives banks, credit unions, and other lending institutions immediate access to competitive rates for deposits, loans, and fees. The new MyRI self-service online dashboard is something new to the banking industry, an ASP model that provides live access to time-sensitive data in a market that has traditionally relied on static FAX and e-mail reports for competitive pricing. Subscribers can use the new MyRI (My Rates Insight) Web system to access market intelligence in real time, sorting competitive data by region and institution in order to profitably price deposit and loan products in 10 minutes or less.
“Finally, we can offer the market a live system with information that you can access on the fly to stay current with the market throughout the day,” said Rick Barham, CEO and founder of Market Rates Insight. “As the financial climate becomes more volatile, financial institutions need real-time information tools that keeps them up to the minute, giving them competitive data when they need it. That’s why we created MyRI.”
MyRI is designed to be completely customizable, allowing subscribers to set up their own competitive search and report criteria. Using the automated Web-based research portal, bank and credit union executives can instantly access competitive rate data organized by product, competitive institution, or geographic region to get a comprehensive market snapshot. This means managers no longer have to supplement their current reports or worry about incomplete data, nor do they have to allocated staff time and resources to research competitive rates.
“Previous pricing processes were time and labor intensive, often resulting in incomplete data, but early MyRI adopters have told us they love this system because it is complete and makes it easy to access, analyze, and share market data,” Barham added. “With the MyRI dashboard, we place essential market information at your fingertips so you can quickly set rates for deposit, loans, and fees for maximum profitability. In this time of turmoil, we are delighted to be able to offer a solution that lets banks do more with less.”
The MyRI portal includes a wide range of research tools that provide a comprehensive snapshot of the lending market. BalanceBuilder is the workhorse of the system, providing competitive views by product type, including an instant 12-month competitive history as well as current rates. GAP Analysis lets you identify competitive opportunities by region, product, and competitor, making it easy to identify product weaknesses, spot trends, and identify holes in the market. There are other tools as well designed to create a comprehensive view of rates by competitor, product, or region so you can price deposit and lending products competitively. All reports can be exported as PDF or Excel spreadsheets to make them easy to manipulate for presentation in pricing meetings.
Market Rates Insight also offers a number of alert services to keep customers on top of changing market conditions. And Market Rates Insight maintains the most complete, searchable database of deposit products available spanning more than 25 years.
For more information about the new MyRI portal, visit them on the web at www.marketratesinsight.com/new.
About Market Rates Insight
For more than two decades, Market Rates Insight (MRI) has been helping subscribers price with confidence by providing banks, thrifts, credit unions, and other financial institutions with accurate market intelligence on deposits, loans, and fees. MRI uses deposit surveys, mortgage and consumer loan surveys, fee and feature studies, new product alerts, and market share and money fund reports to give subscribers the intelligence they need to profitably react to emerging trends. MRI’s products include customized, web-enabled market research tools that report on rates, as well as online searchable databases, gauges, alerts, and dashboards that aggregate key client data to provide real-time views on how they stack up against market competitors.
Market Rates Insight is located in San Anselmo, California. For more information, see www.marketratesinsight.com.
# # #
For more information contact:
Rick Barham
Market Rates Insight
415-448-8800
Rick.barham@marketratesinsight.com
Tom Woolf
Woolf Media Relations
(415) 259-5638
tomw@woolfmedia.com
“Finally, we can offer the market a live system with information that you can access on the fly to stay current with the market throughout the day,” said Rick Barham, CEO and founder of Market Rates Insight. “As the financial climate becomes more volatile, financial institutions need real-time information tools that keeps them up to the minute, giving them competitive data when they need it. That’s why we created MyRI.”
MyRI is designed to be completely customizable, allowing subscribers to set up their own competitive search and report criteria. Using the automated Web-based research portal, bank and credit union executives can instantly access competitive rate data organized by product, competitive institution, or geographic region to get a comprehensive market snapshot. This means managers no longer have to supplement their current reports or worry about incomplete data, nor do they have to allocated staff time and resources to research competitive rates.
“Previous pricing processes were time and labor intensive, often resulting in incomplete data, but early MyRI adopters have told us they love this system because it is complete and makes it easy to access, analyze, and share market data,” Barham added. “With the MyRI dashboard, we place essential market information at your fingertips so you can quickly set rates for deposit, loans, and fees for maximum profitability. In this time of turmoil, we are delighted to be able to offer a solution that lets banks do more with less.”
The MyRI portal includes a wide range of research tools that provide a comprehensive snapshot of the lending market. BalanceBuilder is the workhorse of the system, providing competitive views by product type, including an instant 12-month competitive history as well as current rates. GAP Analysis lets you identify competitive opportunities by region, product, and competitor, making it easy to identify product weaknesses, spot trends, and identify holes in the market. There are other tools as well designed to create a comprehensive view of rates by competitor, product, or region so you can price deposit and lending products competitively. All reports can be exported as PDF or Excel spreadsheets to make them easy to manipulate for presentation in pricing meetings.
Market Rates Insight also offers a number of alert services to keep customers on top of changing market conditions. And Market Rates Insight maintains the most complete, searchable database of deposit products available spanning more than 25 years.
For more information about the new MyRI portal, visit them on the web at www.marketratesinsight.com/new.
About Market Rates Insight
For more than two decades, Market Rates Insight (MRI) has been helping subscribers price with confidence by providing banks, thrifts, credit unions, and other financial institutions with accurate market intelligence on deposits, loans, and fees. MRI uses deposit surveys, mortgage and consumer loan surveys, fee and feature studies, new product alerts, and market share and money fund reports to give subscribers the intelligence they need to profitably react to emerging trends. MRI’s products include customized, web-enabled market research tools that report on rates, as well as online searchable databases, gauges, alerts, and dashboards that aggregate key client data to provide real-time views on how they stack up against market competitors.
Market Rates Insight is located in San Anselmo, California. For more information, see www.marketratesinsight.com.
# # #
For more information contact:
Rick Barham
Market Rates Insight
415-448-8800
Rick.barham@marketratesinsight.com
Tom Woolf
Woolf Media Relations
(415) 259-5638
tomw@woolfmedia.com
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