Striving for number one: practices from the US banking industry

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Abstract
States that the financial services industry has become one of the USA most visible players in the tough, new competitive era. What worked for corporations in the past has been re‐engineered; re‐evaluated, reprocessed, and reinvented in hopes of entering this new era with an edge on competition. Presents three corporate strategies of today′s banking industry’s “heavy‐hitters”. Each corporation has a strategy unique to its corporate culture, but all of these banking corporations have the same desire: to be the customer’s number one choice for their banking products and services. Customers equal profitability, and profitability equates to future success and prosperity. The banking industry has witnessed an evolution from the old way of doing business. With this evolution comes new possibilities in all facets of the business environment. Helps to illustrate how each corporation is “rising to the occasion” and developing their own unique strategies to remain a successful and profitable player in the banking game.

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