1)
• Major losses in the bank’s personal checking accounts
• Increasingly wanted value and personal service
• Fierce industry responded to deregulation and new niche market entrants
• Changes in banking regulations
• Smaller banks changed their focus away retail banking or were acquired by larger banks
• Deregulation of the financial industry allowed crossover between banking, trust, securities, and insurance which had been kept separate
• Internet banking and lowering of protections for domestic banks allowing foreign banks to enter the market
2)
• CRM system could allow its personal bankers to access a customer’s transaction history
• Address, age, and account balances
• All contacts the customer had at any company location, phone center, or Internet site
• What level of service the customer qualified for, based on current and future profitability
• What products the customer held at the time of the call
• What products the customer was targeted/approved for by sales and marketing
• How the customer responded to targeted direct marketing campaigns
• Call centers, branches, and direct mail are critical to the customer experience
• The consolidation of the regional sales and marketing groups meant that instead of calling regional offices for lead lists, branches received lists from the sales and marketing office in Toronto
• Everyone had access to the “lead” list and it was available electronically
• ...