CRM Vendors Cash In On The Financial Services Industry
L. Talarico - November 2, 2000

Event Summary

The 1933 Glass-Steagal Act that prohibited the alliance of banks, securities firms, and insurance companies was repealed in November of 1999. Its repeal is creating opportunities for CRM vendors as well as for financial services firms. Competitive pressures over the past 11 months have forced financial services firms to broaden and reorganize their product offerings around the needs of the customer. The reorganization also brings the need for these large organizations to collect and share customer data across divisions and other organizations. This has created a demand for CRM applications that can meet the specific business requirements of firms in the financial services industry. Siebel Systems, Broadbase Software, and E.piphany have supplied applications to the financial services industry for some time, but the increased demand for CRM applications and rising competition has led to new business developments for each of these vendors...