Shifting the advantage
Article Abstract:
The technological advantage of large banks over their smaller competitors is being eroded by the emergence of a new generation of banking system that runs on personal computers. Major financial institutions have long had a technological edge because their larger customer base gave them a greater capacity to absorb the high costs of hardware, software and technical personnel. However, falling equipment costs and the introduction of new development tools have given rise to the client-server system, which facilitates the flow of intelligence from a powerful database located on a server to the desktop. This technology offers fast information access and transaction processing in a user-friendly format, and is priced such that even community banks can buy them. Despite its usefulness, larger banks are reluctant to use client-server systems because of perceived lack of performance and because of their heavy investments in their core systems.
Publication Name: Banking Strategies
Subject: Business
ISSN: 1091-6385
Year: 1998
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People: the overlooked factor in outsourcing
Article Abstract:
Many bank executives engaged in technology outsourcing fail to consider people issues involved in such transactions. They become so engrossed with hardware and software decisions that they overlook the importance of managerial variables that determine the success or failure of their outsourcing strategy. These executives can succeed if they align themselves with their outsourcing vendor and its operating style, which are as important as technical and pricing concerns. To develop and maintain a good outsourcing relationship, managers should address such factors as pre-sale activities, reengineering, training, conversion, support and performance audits. Managing these effectively can result in a harmonious relationship with the outsourcer's managers, on-site staff and support people.
Publication Name: Banking Strategies
Subject: Business
ISSN: 1091-6385
Year: 1997
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The cross-sell connection
Article Abstract:
The inbound telephone call can be an effective bank marketing tool. The banking industry's most popular delivery channels all have limitations, such as the huge costs of branches, the low response rates of direct mail and outbound telemarketing's potential to alienate customers if not managed properly. Aside from avoiding these problems, the inbound call makes customers more receptive to bank marketing efforts because they initiated the call and were helped in resolving service-related concerns. Furthermore, the inbound call enables the bank to gain valuable information about customers and products in course of providing service. Bank contacts initiated by the customers themselves may present good cross-selling opportunities.
Publication Name: Banking Strategies
Subject: Business
ISSN: 1091-6385
Year: 1998
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