Webster Financial Corporation Essay

1059 WordsMar 29, 20155 Pages
Erin Fitzgerald Danika Holmes Jeremy Tejada Nicholas Moreau Team E MKT-270-03100 Professional Selling Professor Anstey General Education Assignment/Team Project Skillsoft®,Webster Financial Corporation March 17, 2015 Webster Financial Corporation Introduction Webster Financial Corporation or better known as Webster Bank has been helping families, individuals, and businesses achieve their financial goals for more than three generations. Webster Bank has over 3,000 employees that are working towards the company’s values, which is to meet their customers’ needs. They also want to gain and keep customers’ trust, respect their dignity, and to work with the customers’ to achieve the best results possible. Webster Bank extends through…show more content…
Webster has also successfully deployed the model, which uses its Relationship Managers to offer a compelling value proposition to customer and prospects. In 2014, the Webster Bank received the ‘Best Online Banking in New England’ which is recognized by J.D. Power. The company upgraded its online banking as well as its mobile banking. This increased customer satisfaction, which is extremely important. The ability to expand is also a great strength because since the bank is successful in four states it could be in many other states as well as international (Webster Financial, 2015). Weaknesses Along with strengths, every business has its weaknesses even if they do not want to admit it. One of the biggest weaknesses in any bank is the high staff costs. This is because of the amount of qualifications needed to work at a bank. Webster Bank is in only four states. This is a problem because it does not give the bank the full profitability it could get. The bank is missing out on a big opportunity. Another big weakness is the amount of products that the bank offers. With each product more employees need to be hired. It could also make the customer confused as to what they really need. Being involved in the community and being connected with the customers is a great thing but it can also be a bad thing. It is great to have these connections but, in the end it is a business. Having these
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