By examining the behaviour of
customers, the glaring realisation is that institutions are essentially
assuming that customers only ever use one channel at a time to interact with
them. Hence, it is not unusual to find a Web team that believes it can take
30–40 per cent of branch traffic and service it online. Likewise, it is not
unusual to hear proponents of branch banking telling us “the branch is back”,
and that the winning strategy is to be investing in more real estate and
variations of branch to retain customers. It’s also not unusual for customers
to receive dozens of direct mail offers, email marketing offers or SMS
promotions from different “revenue centres” within the bank, independent of one
In 2008, ...
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