| Hedging
the Bet
by Kenneth Cline
— First Union Corp. is spending big in alternative
delivery and database marketing. But CEO Ed Crutchfield
continues to buy market share the old-fashioned way, through
expensive acquisitions.
Payoff
Deferred
by Robert Stowe England
— Although online banking
is getting a big lift from the Internet, profitability
may be years away. For now, the name of the game is preserving
market share.
Network-Centric
Banking
by Gary R. Craft —
As the Internet threatens key pieces of banking's payments
franchise, banks must explore new opportunities in electronic
commerce, says analyst Gary R. Craft, who presents a number
of strategic options.
Pyrric
Victories?
Takeover bidding reached stratopheric heights in
1997 as predators snapped up trophy franchises, and Wall
Street suffered sticker shock. This year's outlook: more
of the same.
Treading
Cautiously
Electronic billing offers vast savings, but utility
companies are wary. Two issues: ensuring flawless service
and choosing payments partners.
Smart
Card Disconnection
European banks have outpaced U.S. counterparts
in the smart card arena. But European and American experts
say the lack of interoperability--a common technology
platform--hinders progress in both parts of the world.
Lifting
the Veil on Tech Spending
Like most bank CFOs, Wachovia's Bob McCoy scrutinizes
tech spending to ensure promised benefits actually materialize.
A key recommendation: let the business units drive the
process.
Conversion
Race
Although catastrophic breakdowns appear unlikelp,
system conversinos will become an increasingly pressing
aissue for bank merger strategists. Year 2000 software
problems cast an especially long shadow.
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