Good points, Peter
>>Bricks and mortar needed for vault type security<<
I hadn't thought of it that way but your right. Today's banking security has more to do with electronic commerce, even for traditional banks.
>>These banking mega-mergers we are seeing are not the most significant current event in banking.<<
So true. Kay Griffeth (GLB's CEO) mentioned that in her address to GLB's seed capital investors. She's an ex Nations Bank VP, also started out with BofA. She held up the front page headline of their merger showing the CEO's shaking hands with big smiles on their face and said, " You know, while these old farts are congratulating themselves on creating bigger and more impersonal banking institutions I'm going to be concentrating on delivering more personal and custom tailored service to our target market. They're missing the boat. Customer service for these behemoths is going down hill."
>>BTW, I continue to have an exceedingly positive experience working on a mortgage with AIB.<<
And there you have it. Most people don't realize the extent to which customer service can be elevated on the net. It is a far more personal communications medium than the average person (and most bankers) realize. We on SI are quite aware of this.
Keith Cotham (GLB's human resources manager) has 5 years bank consulting services experience. One of his areas of concentration was customer service, how you quantify it, track it, and reward it. Not so easy but there are ways such as measuring how quickly and how often a phone operator thanks you or says may I help you with that, etc.
These types of small but important customer interaction bits are more easily monitored, measured, and rewarded with email communications. Stephen is looking at IM products for the bank, too. They're going to be pushing the customer service envelope.
If you've been to the GLB site you may have noticed that the hit count is over 11,500 now. It was under 500 when I started doing my DD 2 months ago.
They've got someone answering all their emails and responding to everyone who signed up for their 98 VW Beetle give away. I won't be surprised if they have 5-10k customers ready and waiting to open accounts on the launch date.
Has your mortgage loan process been primarily via email or has there been phone interaction as well? Will the underwriter be the closing agent or will it be local? If not local then how will they identify you, notarized documents? Do you send info to them by mail? Did you pick your appraiser or did they designate one.
Les |
