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The Deposits Come Marching In: Account Initiation in a Multichannel EnvironmentProduct Type: Market Research ReportPublished by: TowerGroup Published: April 2009 Product Code: R301-1624 Description As deposits grow at record levels, banks' opportunity to build customer loyalty is at risk because of outdated technology and inconsistency between the delivery channels. Banks often spend IT dollars on Internet banking and the new hot ticket, mobile, yet customers still open 94% of new accounts in the branch or over the phone. Capital conservation may be a top business driver, but banks that fail to innovate now will find themselves scrambling to keep and attract new customers later. Banks' focus on internal processes such as revenue distribution and document control has prevented them from creating a multichannel account-initiation process. Banks must address the business process, automation, and channel integration to sustain long-term deposit growth. Table of Contents
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