Banks adjust to client business habits
Big Five are making do with fewer branches now as Internet, ATM use surges
- By: Geoff Kirbyson
- June 26, 2003 October 27, 2019
- 15:40
Big Five are making do with fewer branches now as Internet, ATM use surges
Some banks show marginal improvement, but most managers are still far from satisfied
Scotiabank stands out as TD and CIBC continue to grapple with problems
Huge changes are underway, and that is undermining account managers’ perceptions of their firms
MAIN CHART The overall mood of account managers at Canada’s banks and credit unions may not have improved much in 2003, but some bankers are…
Account managers report improvements, but consumer advocates remain critical
Technology and job security among reasons Scotia account managers love their bank
For most banks and credit unions, education is a priority; Laurentian appears to be the exception
Size and large bureaucracies can create problems, but can also make it easier to implement solutions to help clients
On the efficiency question, overall contentment with internal systems is down in each of past three years
Certain personality types do better than others in some sectors of the financial services industry
Institutions making up for late start with new emphasis on planning
Country crises and corporate failures take their toll
As regional organizations, it is easier for them to focus on the needs of specific communities
Cutbacks, sales quotas, competition: “It’s brutal!” says one account manager
Account Managers' Report Card: includes chart
2002 Account Managers' Report Card
Bankers don't think they are receiving enough incentive compensation for the work they do
TD Canada Trust, despite merger, draws top reviews for its systems
Few bankers express dissatisfaction with expectations that they boost the bottom line: "If you like what you do, it's not pressure"
Some women bankers say they have been treated fairly; others say difficulties are also faced by men
Emphasis on continuing education is "constant," one banker says
Employees nervous they may lose their jobs, and they're at their wits' end trying to keep up with the work
Merger of TD Bank and Canada Trust is almost done, and employees give results top marks