Overview
The Retail Bank delivers personalized financial products and services to consumers,
entrepreneurs and small businesses. Services are delivered through traditional
and in-store banking centers, Web banking, telephone banking and ATMs. Skilled
and knowledgeable teams work together every day to deliver consistently excellent
service quality, which results in deep and long-lasting customer relationships.
• | Opened 25 new banking centers, 24 of which are in the high-growth markets of Texas, California, Arizona and Florida |
• | Relocated seven banking centers, improving their visibility and accessibility for all customer segments |
• | Completed refurbishments to 19 banking centers – 16 in Michigan, two in Texas and one in California |
• | Increased average small business loans seven percent to $3.8 billion compared to 2005 |
• | Completed a comprehensive upgrade of all marketing and merchandising displays in banking centers nationwide |
• | Launched “We Love Entrepreneurs” campaign |
• | Simplified
and enhanced checking account offerings, including Platinum CircleSM,
a package of services that allows customers to combine business and individual account balances to meet balance requirements |
• | Introduced the Comerica-Northwest Airlines WorldPerks Check Card |
• | Added six new small-business loan products |
• | Launched a small-business suite of Cash Management products |
• | Introduced Comerica credit cards for small businesses and consumers. Card features include reward options and overdraft protection for both personal and business checking accounts |
• | Began piloting voice-guidance ATMs for the visually impaired |
• | Installed TRiO, a relationship-focused front line sales management system |
Competitive Advantages
• | Rank #9 among SBA lenders nationwide |
• | Among the top 20 banking companies in small business loans |
• | The top-performing bank and the sixth-most desired financial services company, according to the Financial Services Demand 2006 study |
• | Loyal and highly satisfied customers – evidence that Comerica’s relationship strategy works |
• | Telephone banking center achievement of a top-five rating among mystery shoppers of the largest financial institutions |
• | Skill set and experience of employees |
• | Improved and highly competitive product set |
• | Relationship approach to customer service and sales, which matches the skills and experience of employees and improves the loyalty of the customer base |
Strategies
• | Expand and improve customer access points including the acceleration of the banking center expansion program and the continued optimization of the Michigan banking center network |
• | Energize sales with improved accountability, sales tools, incentives and processes, focused on exceeding customer needs |
• | Implement national platforms that will improve efficiency, reduce risk and deliver consistent results |
• | Leverage Michigan platform and capacity to support the front line in delivery of the best service and sales experience for customers |
• | Partner with Business Bank and Wealth & Institutional Management on cross-sell opportunities |