13 Oct. 2005
In 2000, Wells Fargo set out to turn the online channel into a viable sales engine. To attain this goal, the bank established a centralized online sales team that manages an online product application engine that supports a wide variety of products, from checking accounts to mortgages. The result: a dramatic increase in cross-sell rates.
Other Hot New Research
Take a look at these other recent research reports:
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Insurance Firms' Spending Plans For Claims Management Systems |
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Online Insurance Shopping Grows With Online Tenure |
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Strong Authentication And Enterprise Single Sign-On Go Hand In Hand |
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Simplifying Information Architecture |
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Best Practices For Contextual Help Windows |
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Inbound Marketing Goes Mainstream |
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How German Consumers Use Banking Channels |
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Technology Evaluations
We've recently used the Forrester Wave™ to evaluate several relevant technologies for financial services firms:
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Enterprise content management |
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Web design agencies |
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Accounts payable EIPP |
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Enterprise CRM suites |
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Customer data integration |
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The Affluent Are Active Online Investors
Consumers with more than $1 million in investable assets are the most active online investors, checking balances and trading online more frequently than mass-affluent and mainstream investors. Online stock trading by affluent investors has climbed back to the highs established nearly five years ago at the market's peak. Twenty-two percent of affluent investors made an online trade during the past year.
The Affluent Go Online
EBPP Forecast: 2005 To 2010 |
Adoption of EBPP also varies significantly by region. In other research, we analyzed the regional and generational make up of the 10 largest US banks to calculate a predicted adoption percentage (i.e., the percentage of a bank's online customers who would pay bills online at the bank's site if its adoption percentage is equal to the regional average). Our analysis shows that the performance of the top-ranking bank -- Bank of America -- is due more to its EBPP product strategies and marketing tactics than to its customer demographics.
Got Feedback? I'd really like to hear about topics you'd like to see us cover, data you need, or technologies you want assessed. Drop me a line at brucetemkin@forrester.com.  Bruce D. Temkin Vice President & Practice Director, Financial Services EMAIL: Email this issue to a colleague.
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