Banks Urged to Seek More Retail Customers

Published on:
12 September 2006 at 10:19 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00000138-banks-urged-to-seek-more-retail-customers/

By Jonathan Stempel, Reuters

Big banks need to do a better job attracting retail customers and selling them multiple products, as lending growth slows amid increased competition and rising interest rates, consultants said.

“There had been a tremendous amount of traffic into branches with low interest rates for mortgages, loans and other products,” said John Durocher, a partner for branch strategies at Accenture Ltd., the consulting firm.

“Now rates are moving in the opposite direction, and banks have to decide how to maintain this foot traffic,” he said. “Banks are trying to get much more intelligence about what they can offer that’s of value to the customer.”

For this complete story, please visit Banks Urged to Seek More Retail Customers.

Banks Urged to Seek More Retail Customers

Unknown Author

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