Cover Story - Banks aim for divisional integration
Teaming with possibilities.
In today's competitive banking world, some financial institutions are reorganizing into interdepartmental, cross-functional teams to better collaborate in serving--and selling to--the customer. Here's what these banks are doing and how they are benefiting.Olympic medalist and boxer George Foreman may be right when he said, "A hero is someone who doesn't change." But in today's business world, a company must change or it will perish. Nowhere is that so evident as in the financial services industry, where deregulation has redefined banking. With the modernization fully underway, bank managers are stuggling to integrate people, divisions and philosophies. "Banks grew up being functionally organized, very sioed," explains Lance Kessler of Lance Kessler & Associates of Mechanicsburg, Pa. "If I did retail banking, I worked in the branch environment. If I worked in trust, that was my world. But with a converging in...