Revitalizing the branch
Article Abstract:
A recent roundtable discussion sponsored by Banking Strategies magazine on the future of branches in retail banking revealed that traditional bank branches are thriving despite the emergence of electronic payments and other alternative delivery systems. FDIC statistics show that bank and thrift branches increased by 16.3% between 1984 and 1998 to reach a total of 72,340 outlets. Participants in the discussion attributed this growth to the traditional branch's enduring value as a sales platform. Chase Manhattan Sr VP David Mooney and Wachovia Sr VP David L. Pope both contend that branches continue to play important roles in their banks' efforts to reach certain customer segments. For his part, Crestar Exec VP Alexander Berry III argued that branches function like billboards and facilitate the kind of customer interaction that is not possible electronically..
Publication Name: Banking Strategies
Subject: Business
ISSN: 1091-6385
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
The smart card disconnection
Article Abstract:
Executives from American and European banks participated in a panel discussion sponsored by 'Banking Strategies' magazine to examine issues related to smart card technology. Hubert Jacquet of the French bankcard association Groupement des Cartes Bancaires explained the preconditions for launching a successful smart card program. Udo Einhoff of Germany's Bundesverband deutscher Banken emphasized the importance of cooperation among banks in marketing smart cards. MasterCard International Senior VP Richard Phillimore believes that home banking and Internet services can boost consumer demand for smart cards. On the other hand, Diana P. Knox of Visa U.S.A. asserts that there are inadequate business applications in the US for a payments-only chip card. But she sees various business cases for smart cards.
Publication Name: Banking Strategies
Subject: Business
ISSN: 1091-6385
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Fighting the bank. The self-destructing economic miracle
- Abstracts: Keeping a corporate clout. The shakeout continues
- Abstracts: Call in the charity consultants. A voluntary vision. Sustaining public confidence
- Abstracts: Pension reform: the facts so far. The pension revolution. Divorcees to do the pension splits
- Abstracts: Bank lending stickler. The Dutch door strategy. Bank booster