WASHINGTON - A prominent technology analyst let banks have it with both barrels at a mutual fund conference last week, saying they risk losing out to other financial services firms because they have failed to use technology to build relationships.

"All banks stink," James Punishill, a senior analyst at Forrester Research, Cambridge, Mass., said at the Investment Company Institute's annual conference. "Banks managed to raise several generations of those who don't care if they exist."

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