Looking to grab marketshare, many institutions plan to throw money at customer relationship management and sales automation solutions over the next two years. In a recent report released by Boston-based research firm Aite Group, 92 percent of respondents said they are likely to extremely likely to replace their current CRM and sales solutions by 2010. This, despite the fact that banks have spent heavily in this realm over the past decade, Aite says.
None of the surveyed banks-14 of the top 100 North American banks by number of checking accounts-have already replaced or refreshed those solutions. Further, 67 percent plan to improve their customer service platform and/or new account-opening solutions over the next 24 months.