Academic journal article ABA Banking Journal

One-Stop Viewing for Customers

Academic journal article ABA Banking Journal

One-Stop Viewing for Customers

Article excerpt

To offer their retail and wholesale customers consolidated views of their accounts and financial records, Bank of America recently announced it would roll out a new web-based customer relationship management (CRM) system over the next year.

The new system, developed by the bank in partnership with Siebel Systems and (for wholesale customers) with YouCentric, Inc., will give customer service associates and customers a more complete view of a customer's relationship with Bank of America.

The interface will help customers find the right product mix to meet their financial needs, let them view transaction and inquiry histories for all of their accounts, and facilitate such administrative requests as change of address, check reorder, and statement mailings, according to bank spokesperson Eloise Hale.

BofA isn't viewing the CRM system as a sales tool per se, notes Hale. "We're such a large organization that has grown by acquisition, we decided it was time to link all these separate systems together," says Hale. "We want to make it easy for our customers to deal with us and eliminate the need for multiple phone calls to get answers on their accounts. …

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