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Bank Director Magazine - 2003 - Technology Supplement
Taking The Lead
James R. Eckenrode, group research director in consumer banking research for TowerGroup, offered his observations about which banking institutions are paving the way in various segments of technology.
Branch Renewal
From the technology perspective, I would look at CIBC in Canada. It is working in partnership with IBM Global Services and Eontec to redeploy its delivery channel architecture in an open,component-based, multichannel offering. It began rolling out the teller application in November. This represents the next leap forward in delivery channel architecture.
From the design perspective, I’d look at Bank of America, J.P. Morgan Chase, and Washington Mutual, all of which are experimenting with new branch designs and customization of branch footprints to meet local market needs.
Customer Analytics and Segmentation
The leaders here tend to be the large banks in Canada (Bank of Montreal and Royal Bank of Canada, in particular) and Australia (notably National Australia Bank). Also, U.S. Bancorp has had some success with customer segmentation and, more important, with sending that knowledge out to customer touchpoints for decisions related to both sales and service opportunities.
Internet Services
The U.S. leaders in Internet banking services are Wells Fargo, Bank of America, and Fleet, while in Canada, Toronto Dominion Bank is in the forefront. These banking institutions are all pushing enhanced functionality, ease of navigation, and are moving to provide free bill pay and presentment.
Integrated Product Sales
Again, Bank of America and Wells Fargo are focusing on leveraging their dominance in mortgage services and cards (both debit and credit), as well as developing extensive branch networks to cross-sell products across business lines. Wells Fargo and Washington Mutual also are experimenting with the development of more flexible mortgage products as a way to attract new business and increase share of wallet based on the first mortgage servicing relationship.
2003 - Technology Supplement
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