Jack Welch Outlines
Challenges Facing Financial Services Industry at BAI Conference
Fincentric CEO Welcomes Former GE Chairman at
Discussion of Leadership, Investing in Employee and the Future of
Retail Banking
Vancouver, BC — Dec 3, 2002
– Legendary General Electric CEO and business guru, Jack Welch
spoke to approximately 2,800 banking and financial services executives
at BAI’s Retail Delivery Conference & Expo 2002, sharing
his personal views on corporate leadership while explaining what
financial institutions could do to become more customer service
oriented.
Introduced by Mike Cardiff, President and Chief
Executive Officer of Fincentric, a leading global provider of wealth
management and next generation retail banking software, Welch’s
keynote address outlined many of the challenges facing financial
institutions with regards to fostering a positive corporate culture,
investing in employees and building an environment that upholds
the highest levels of customer satisfaction.
During the question and answer session with the
audience, Welch pointed out that the demand for customer service
is overwhelming, providing opportunities for those financial institutions
that quickly put together good customer service systems. When asked
how aggressively financial institutions should pursue change he
made the following comments:
"In your business there is such a demand for
customer service and aggregation of services that it is overwhelming.
The thing that frustrates you most about retail banking, as an individual,
is the number of people and channels you have to go through to satisfy
your needs,” said Jack Welch.
“Where banking can bring stuff together and
make it easier for the consumer, and in the most radical way possible,
for mortgages, insurance to wealth accumulation, to every piece
of it — and how fast you can get there — is the challenge.
The challenge for everyone here is to break the boundaries. Getting
(or maintaining) leadership in banks is the challenge," he
added.
The Jack Welch Leadership Session was held on November
5, 2002, as a continuation of Fincentric’s leadership series
held during the annual BAI Retail Delivery Conference & Expo.
Mike Cardiff, Fincentric’s President and CEO, stated in his
introduction, “Market leadership isn’t about making
the safe bet. It often involves assuming a measurable risk. A leader
understands when change is necessary to achieve business success.”
About Fincentric
Fincentric Corporation is a leading global provider of
enterprise wealth management and core banking software. Fincentric's
i-Wealthview™ wealth management software products include
'next generation' core banking, Customer Value Management™,
data aggregation, Internet and wireless financial portals and full
multi-channel support. Its revolutionary Customer Value Management™
capabilities provide profitability and relationship analysis that
allow financial institutions to recognize the value of each customer,
and maximize their profitability. Fincentric products enable financial
institutions to quickly deploy solutions for their converging financial
service offerings, while also supporting capabilities for increasing
customer profitability, customer acquisition, and retention. Fincentric
has approximately 300 customers worldwide, and has strategic relationships
with Microsoft, Compaq, and other international partners. For more
information, visit Fincentric's home page at www.fincentric.com,
or call (604) 278-6470.
Media Contacts:
Fincentric Corporation:
Shella Evangelista
Media & Analyst Communications Manager
Fincentric Corporation
Tel: (604) 214-5710
|
|
|
