To meet customers' needs in on-line and other direct channels, financial institutions must get past their historical tendency to be just transaction-processing factories, said Jack Antonini, executive vice president of First Union Corp.

"As an industry we're very good at processing transactions," Mr. Antonini said in a keynote speech to the Bank Administration Institute's direct banking conference in San Diego. "We're very good at getting volumes through."

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.