June 15, 2009 08:08 ET

Banks Aim to Build Customer Loyalty as Deposits Grow to Record Levels

ROCKVILLE, MD--(Marketwire - June 15, 2009) - has announced the addition of TowerGroup 's new report "The Deposits Come Marching In: Account Initiation in a Multichannel Environment," to their collection of Banking & Financial Services market reports. For more information, visit

As deposits grow at record levels, banks' opportunity to build customer loyalty is at risk because of outdated technology and inconsistency between the delivery channels.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.

Topics covered in the report include...
Deposit Growth Continues Unabated for Now
Customer Preferences
What the Customer Wants, the Customer Might Get
Imperatives for Action
Preparing to Compete for Future Customer Deposits

For more information visit

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