Here’s the latest online metrics from Wachovia according to today’s presentation at BAI’s Retail Delivery Conference by Lawrence Baxter, the bank’s Chief E-commerce Officer:
Overall bank size:
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Serves 14 million households and businesses
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$289 billion in deposits
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4th largest U.S. bank
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3rd largest U.S. brokerage
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3,900 financial centers and brokerage offices
- 95,000 employees
Online metrics (calculations in italics are ours):
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3.2 million active online customers (23% of its 14 million customer/biz households)
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1.3 million online brokerage enrollments
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230,000 active online small business customers
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11,000 corporate clients online
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32,000 Wealth Management households online
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Annual bill payment volume of $25 billion and 66 million payments ($380 average payment)
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Over $66 billion annually in online funds transfers ($20,000 per active customer)
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50 million online check images viewed annually (16 per customer)
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Over 45 million electronic alerts sent annually (1.2 per customer per month)
Analysis
Only major surprise is the small number of alerts per customer, just over 1 per month. The average bill payment amount, $380 per payment, and annual volume of funds transfers, $20,000 per customer are high, and probably include business volume.
—JB