What is a rising rate cumulative deposit product ?

The banking industry has anxiously awaited a rising rate environment, anticipating that interest income from loans and investments will rise more quickly than interest expense on deposits and other funding. Sure that deposit rates will lag industry-wide, many banks believe they can win by simply coasting with market trends. But a lot has changed in the industry since the last upward rate cycle, in particular the increased relevance of direct banks, and the next cycle may present a more complex and challenging setting for deposit pricing. And while Novantas research confirms a strong industry trend of lagging deposit rates in prior cycles, institutional performance was widely dispersed, with some banks faring far better than others.