The Bankwatch

Tracking the consumer evolution of financial services

WaMu Shifts Strategic Focus to the Internet From Branches

 Now here is a headline I have been waiting to read.  Quietly online account acquisition has been gaining momentum amongst the big banks, supplemented by high interest rates on such accounts.tags:

Washington Mutual Inc. plans to rely more on the Internet to attract new customers. The Seattle-based bank is adding more than 700 new checking accounts a day, CEO Kerry Killinger says. Driving customers to cyberspace to open and manage accounts cuts back on the need to open more stores — something Wamu has been doing with singular ferocity over the last several years.

Source: BankNet 360 – TOP STORY: WaMu Shifts Strategic Focus to the Internet From Branches

Written by Colin Henderson

September 8, 2006 at 20:20

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