First Union, Towers Perrin to Rate Quality of Banks' Processing
First Union Corp. said it will join with the consulting firm of Towers Perrin in an effort to measure the service quality of bank automation departments.
The initiative, which Towers Perrin said is the first of its kind, is aimed at determining criteria for judging a bank's product and support service.
The study will compile information from several dozen financial institutions and manufacturers to form a data base against which a bank's data processing operations may be measured.
"The results will demonstrate to each participant how well the data processing department performs in meeting its internal customer needs and how that performance compares to all the companies surveyed," said Thomas O. Davenport, a principal at Towers Perrin in Atlanta.