Regions Bank 2011 Annual Report Download - page 10

REGIONS 2011 ANNUAL REPORT8
in person, online, at ATMs and over the phone
• Greenwich Associates gave Regions its Excel-
lence Award for Small Business and Middle
Market Banking
• Temkin Group ranked Regions as the top bank
for customer experience and one of the top
companies in America for customer service
across all industries
The key to our success in delivering a better
banking experience is how we focus on meet-
ing customer needs – not on selling products.
Recognizing that every customer has unique fi -
nancial needs, our bankers develop a thorough
understanding of a customer’s goals and then
recommend the right products and services for
them that will help them succeed.
New Products and Technology Designed To De-
liver Value. Regulatory reform changed the way
banks generate revenue, which in turn impact-
ed product design and pricing, with the most
signifi cant change being that the industry would
now charge for products and services that were
once free. With this paradigm shift, Regions took
a deliberate and proactive approach in product
development so customers would see the value
in a banking relationship with Regions. Our Now
Banking suite of products is a good example
of an innovative solution for consumers who
want greater control and take a “pay as you go”
approach to fi nancial management. With en-
hanced check cashing, a reloadable Visa® pre-
paid card, and money transfer and bill payment
services, consumers have the increased fl exibil-
ity to manage their fi nances the way they prefer.
Further supporting our efforts to improve the
customer experience, Regions invested in new
technology last year designed to improve our
effi ciency and effectiveness in serving our cus-
tomers. The new system combined fi ve systems
into one, allowing the teller to see a customer’s
entire relationship with Regions, from a mort-
gage to a credit card or a business loan. This
technology gives us the ability to sell products
that customers need, which in turn improves
our bottom line. It also enhances our risk man-
agement practices by allowing a manager to de-
termine the appropriate level of credit to extend
and the types of products to recommend.
Serving the Unique Needs of Affl uent Clients.
In 2011, Regions announced the formation of
the Wealth Management line of business to
serve the unique needs of our affl uent client
segment, which is strategically important to our
future growth. Based on market research, we
determined that the size of the affl uent markets
in our branch network represents a signifi cant
opportunity to deepen existing relationships
and to obtain more market share throughout the
footprint. To capture this opportunity, we have
brought together Private Banking, Personal
Trust, Institutional Trust and Insurance under
the Wealth Management umbrella, creating a
structure that enables us to take a holistic ap-
proach to serving our clients. Wealth Manage-
ment will build on Regions’ strengths by being a
trusted advisor to our clients, providing excep-
tional service quality and delivering value.
Financial Education. We believe there is a
shared responsibility between customers and
banks to avoid another fi nancial crisis – and
at the core is ensuring that customers under-
stand basic fi nancial management. As part of
our commitment to help customers make sound
decisions, Regions partners with the Financial
Services Roundtable to deliver fi nancial educa-
tion to high school students. The program is a
partnership with the EverFi Financial Literacy
The key to our success in delivering a better
banking experience is how we focus on meeting
customer needs – not on selling products.