Perhaps
more than any other industry in recent years, banking,
finance and insurance businesses have undergone the most
dynamic levels of change. Once regarded with the awe
associated with cold and distant institutions, today's
banks, financial centers and insurance companies are viewed,
by both themselves and their customers, as being more akin
to a retail store - particularly, in the wake of sweeping
regulatory changes. What were once known as traditional
commercial and consumer banking, personal finance, and
insurance services, are now, due in great part to the
collapse of the "institution," flexibly packaged
as individual products and product lines. As such, the
banking , finance, and insurance industries have had to
adopt many of the marketing and sales approaches utilized by
retail establishments - right down to the strategic
telecommunications systems these banking, finance and
insurance "stores" need in order to cover an
ever-increasing amount of customer calls.
