Wells Fargo ($1.2 trillion in assets) has always been a leader in innovative delivery capabilities, and with the acquisition of Wachovia the scale and geographic range they have to deal with almost doubled. As part of the merger Wells Fargo completely integrated the delivery platforms with an eye to maintaining high levels of customer satisfaction.
“We have a strategy and commitment around our customers banking at any channel, any time they want, any way they want, anywhere they want,” says Jonathan Velline, EVP and head of ATM banking and store strategy at the San Francisco-based bank. “A lot of times when you read about cross-channel strategies, you hear channel managers talk about moving customers from one channel to another for cost or efficiency reasons, and you hear about specific investment in specific channels. To me it sounds like the customer is sometimes forgotten in those discussions.”
Further, Wells Fargo looks for ways to create connections among channels. Velline points out that research conducted by the bank shows that 60 percent of ATM transaction volume is conducted by customers who prefer to bank with a teller. “That, for me, emphasizes the importance that when we’re creating an ATM experience, the context in the store is important,” he says. “If I make a deposit at a teller and conduct a withdrawal at an ATM 30 minutes later, that deposit must be available in real time, with the right available balance.”
For additional information on what Wells did to integrate the Wachovia delivery systems read the article in Bank Systems & Technology: http://www.banktech.com/articles/229400178
For a review of the latest trends in bank delivery channels see the Mercator Advisory Group Report “Evolving US Payment Systems and Bank Delivery Channels: Death of the Teller…Again?”
For an additional information on multi-channel delivery strategies read the Mercator Advisory Group’s report “Multi-Channel Execution: Customer Satisfaction in a Hostile Environment” for an examination of the challenges banks face and the multi-channel strategies that banks can implement to improve overall customer satisfaction. http://www.mercatoradvisorygroup.com/index.php?doc=Banking&action=view_item&id=489&catid=17