Financial institutions are among the biggest users—and builders—of data warehouses, but they are having a tougher time implementing online customer relationship management. In fact, the full benefit of e-business investments will not reach the bottom lines of many large financial institutions for at least another year, until more-strategic initiatives begin to contribute to improved results, according to financial services executives surveyed by A.T. Kearney.
The research, based on detailed conversations with the heads of e-business for 40 North American financial services companies, reveals an early focus by financial institutions on areas such as transaction processing, procurement and distribution, where quick wins were easier to achieve. However, these same executives admit investments in areas expected to have the largest bottom-line impact such as marketing/selling, customer relationship management and process efficiencies are not as far along.
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