“Wow! I never knew the bank was doing all this on the internet,” was a comment made frequently during the past three months as euromoney.com reviewed the best internet services for wholesale finance. But it was not our researchers who were impressed. It was the bankers trying to show us their websites who were revealing their surprise.
Confused? They certainly are. Most banks are struggling to develop a coherent, consistent e-commerce strategy. Take this remark from one exasperated senior manager at a European bank: “Banks are spending millions and millions on their e-strategy, but they can’t answer the simple question ‘what are you actually doing?’.