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  • Svetlana posted an update in the group Group logo of Relationship Centricity Relationship Centricity 6 years, 6 months ago

    I used to have an account with Washington Mutual (that has been bought by Chase later). When I went to the bank, I was actually “assigned” a relationship manager who helped me to open my account, asked questions and suggested solutions. Once I was done, he provided me with his contact information and I was ready to go. He followed up with me in about a month asking if products I have satisfy my needs, what other goals I might have, etc. If I had non-transactional question or issue that can be handled on-line or at ATM, I always knew that I could call him and get answers I need. He called me once about every 3 months and I learned something new or got an advice every time. When he was no longer with the company, I got a call from another “relationship manager”, who introduced himself and asked if I would like to have a meeting to discuss my accounts, explain new products, etc. I have never experienced anything like that with any of the banks (including Chase). I didn’t have any big amounts of money, nor was I some kind of special target customer. I think that it was just their branch initiative to build relationships because some of my friends who also had WaMu accounts, but lived on the other side of town didn’t have experience like this in their branch. It was probably a good start for building relationship centricity, but it was not spread among all of the branches and got completely shut down when bank was bought by Chase.

    • Yes… it is very unfortunate that WaMu was integrated into Chase. They had taken some very interesting steps in the direction of Relationship Centricity and they paid very close attention to creating an experience that was different from the typical bank. All of that was lost when they were taken over by Chase. Sad Story !

    • So, Sveta, did you go to that suggested meeting with WaMu to discuss the new products and your accounts?

    • So what exactly did a relationship manager do for you besides asking you questions? Did he try to sell you products? And did he seem to remember who you were, or just which accounts you already had? I can’t tell if this guy is just there to cross sell stuff or give advice.