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Turning Banking Call Centers Into Relationship Centers

February 7, 2005

This news item appeared today:

S1 Enterprise Delivers Complete Solution for Transforming Banking Call Centers into Relationship Centers

I picked out this quote from the release -- seems to reflect an important truth in financial services:

"The call center was once a cost center to most financial institutions, but it is now seen as potentially a major profit center and as the point where service representatives have the greatest impact on customer satisfaction and retention."
-- Ross McKay, vice president of product management for retail banking at S1

Effective CRM in a banking operation seems especially critical to me. For one thing, you need to have pretty strong security measures because of the sensitivity of the information you are dealing with. Also, because you are handling peoples' money, the operation is at high risk for screwing up peoples' lives through bonehead errors.

AB -- 2/7/05




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