Reagan-era Predictions of Banking's Future
September 27, 2011 9:28 AM
Financial Supermarkets
"The financial services firm of the future will…offer a wide array of products and services under one roof.
James N. von Germeten, Boston Safe Deposit & Trust Co.
Cross-Selling
"Cross-selling will be for real and not a buzzword."
Harry B. Brock Jr. Central Bank of the South, Birmingham
Customer Focus
"Financial services firms will be more customer-sensitive than ever by the year 2011."
C.A. Cutchins 3d, Sovran Financial Corp., Norfolk, Va.
Tech Revolution
"Information technology will allow clients to have services tailored precisely to their individual circumstances, almost to design their own accounts."
Frederick Heldring, Philadelphia National Bank
Global Banking
"I could easily see a Buck Rogers-type thing…where you push a button or use a hand-held calculator to activate the account. We're going to be looking at a very accessible bank account with very little physical dimension to it that can be activated from remote areas, such as Europe."
Edward E. Crutchfield Jr., First Union Corp., Charlotte, N.C.
Goodbye Tellers
"By 2011, banks will have undergone their version of the industrial revolution, with robots and computers taking over tasks such as teller functions and transaction processing."
Richard Ravitch, Bowery Savings Bank, New York
A World of Choice
"Instantaneous investment choices will be readily available to even the smallest factory owner, who will only have to switch on his personal computer — maybe strapped to his wrist...Consumers will have similar capabilities."
Willard C. Butcher, Chase Manhattan Corp.
Modern Management
"There will be a wider variety of styles among institutions, but they will be better managed than current institutions."
Charles J. Zwick, Southeast Bank NA, Miami
Down with Debt
Down with Debt"I would hope there would be a significant reduction in the national debt."
Robert Strickland, SunTrust Banks Inc., Atlanta
