Wingspanbank - introduction and analysis: introduction and analysis PDF (Adobe DRM) download by Till Schmaedicke

Wingspanbank - introduction and analysis: introduction and analysis

GRIN Verlag
Publication date: January 2004
ISBN: 9783638311137
Digital Book format: PDF (Adobe DRM)


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Bank One Corporation the number four among the nation's largest banking and financial institutes made a fundamental shift in its strategy by introducing a Internet-only bank as a separate division of Bank One Corporation in June 1999. Richard Vague, formerly the CEO of the credit card conglomerate First USA, and James Stewart set up the new and additional Internet division of Bank One which was named The objective of was to offer convenient, comprehensive, and objective solutions to customers at competitive prices. The national scope was to extend beyond the 14 states in which Bank One already operated. Additionally targeted on a segment Bank One could not reach with its branches the growing group of Internet users who disdained traditional banks. Both, the present and future users of Internet banking should have given as well as its parent company Bank One Corporation a competitive advantage over its main rivals such as Bank of America, Citigroup, US Bankcorp., NetB@nk, and The one million new accounts for expected by management were a very unrealistic objective.'s strategy and an alliance with Lycos continued to focus on Internet users only and not on establishing any branch system even though surveys indicated the desire of customers to have branches and a physical contact to banks as well. Unfortunately was reintegrated into the Bank One Corporation holding structure by June, 2001. This resulted also out of problems with First USA, a bad press about Bank One and the resignations of several executives. Seminar paper aus dem Jahr 2002 im Fachbereich Wirtschaft - Unternehmensf├╝hrung, Management, Organisation, Note: A-, International School of Management San Diego, CA., Veranstaltung: Strategic Management, 15 Quellen im Literaturverzeichnis, Sprache: Englisch.
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