Magazine article American Banker

M&I Offers Cross-Selling Package to Financial Firms

Magazine article American Banker

M&I Offers Cross-Selling Package to Financial Firms

Article excerpt

M&I Data Services Inc. is introducing software designed to help financial institutions cross-sell through branches and call centers.

The software, BankerInsight, organizes information from bank data bases to give customer service representatives complete views of customer relationships. It also feeds bank employees product information and helps with sales pitches.

Similar software is offered by a variety of companies vying to capitalize on banks' increased interest in sales. According to a survey of 13 top U.S. banks by BT Alex. Brown, about 26% of 1997 bank technology spending has been aimed at increasing revenue. In 1995, only about 21% of technology dollars were devoted to revenue efforts.

Consultants familiar with BankerInsight said it is a dramatic improvement over Milwaukee-based M&I's previous generation of customer service software, which was based on the Microsoft DOS operating system.

Because M&I Data, a unit of $19 billion-asset Marshall & Ilsley Corp., operates a data processing service bureau that serves several hundred community banks, observers said BankerInsight should find plenty of willing users.

Bringing banks with over $5 billion of assets on board may prove a larger challenge.

"It's certainly conceivable that M&I will find a market beyond its own captive customer base," said William Bradway, research director at Meridien Research in Needham, Mass. But larger banks that do not use M&I's core processing system "are going to be a tougher sell," he said, because they have many more alternatives available to them. …

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