Magazine article American Banker

UJB Installs System to Aid Cross-Selling

Magazine article American Banker

UJB Installs System to Aid Cross-Selling

Article excerpt

UJB Financial Corp. has begun installing retail banking software that it believes will help improve cross-selling by branch personnel.

At two United Jersey Bank test branches, the software from NSS Corp., Bedford, N.H., was an integral part of an automation project that increased sales to existing customers by 15%.

Now the Princeton, N.J.-based banking company is including the software in a comprehensive $32 million upgrade of the systems that tellers and platform personnel use at its 276 branches.

The upgrade illustrates the decisions facing many banks as the previous generation of branch automation systems outlives its usefulness.

Antiquated Batch System

"We had a 10-year-old batch sales management tracking system that we knew we had to replace," said Alan Posencheg, president and chief executive of UJB Financial Service Corp. Data processed in batches, as opposed to on-line, lack the immediacy and flexibility that bank marketers say is essential to sales management.

"The cross-sell culture is something that we feel needs to be supported and driven with a system that prompts the customer service representative to [sell] the right products."

UJB is not alone in its desire to improve the productivity of branch workers. Bankers have known for years that building upon existing account relationships is an ideal way to boost retail profits.

But only recently has the industry as a whole looked to automated systems to help achieve this goal.

Mentis Corp., a technology research firm based in Eden, Md., has found that of all retail branch operations, branch systems are most in need of improvement. …

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