Learning Retail Banking Service

When I started this assignment, our challenges were in the product development area. We were in the process of introducing a new very innovative Drive up banking system. The system had the flexibility to be installed virtually anywhere on the banks premises’ and could be controlled by the teller either by line of sight or closed circuit TV. The carrier arrived at the drive up actually presented itself to the customer by extending an arm to the car. Of course it had a sensor to prevent damage to the car. It was called the VAT III system because it was the third generation of pneumatic tube remote banking drive up systems and we called it a Visual Auto Teller. My initial efforts were to encourage our engineering and manufacturing teams to design a very cost effective high quality system.

Now we had to go about the business of proving the product in the field. I began a year of extensive travel all over the United States. In most cases I was requested by the salesman to assist with a new sale or to help a customer who was having problems with our new system. In a number of cases I was asked to view a new installation or service problems experienced by our installation and service department. Fortunately my associate Bob came out of the service and installation area and was very helpful there.

At virtually every stop I learned something new and was able to communicate great suggestions from our customers and field associates. The team in Canton was very responsive and within 6 months we had a very successful and profitable new product. Remember, they took ownership and they took responsibility for making sure we were successful. We expanded both our production line at the main assembly plant and increased our capabilities at the pneumatic systems facility.

This was only one product in our line of drive up banking products. We also manufactured drive up windows and drawers and a more robust remote system that could handle larger pay loads. The VAT III system became about 60% of our business.

In those days the most interesting markets were in what was called the Unit Banking States. These are some of the states where branches were not allowed; Arizona, Texas, Florida, Illinois, Minnesota, Colorado, and a number of others. This presented those banks with a unique challenge to provide convenient services to their retail customers. Because they could not use the branch to reach out to their customers, they needed to make the experience of visiting their bank an easy and fast service. Remember all their customers had to go to the same place for service.

We designed some very unique installations. 6 – 12 lane drive up systems were common. I many cases with closed circuit TV because of space required. I remember one very unique installation in Minneapolis. Bob and I both visited the site to help plan the design. This bank was located in the center city and wanted to be able to provide remote banking services to 15 locations throughout to cities downtown walkway system. We had pneumatic tubes going throughout all the building is the area. What a challenge to our designers and the banks legal department getting permits. Well it took some time to implement but it all worked just fine.

We also learned that much of our service problems were caused by insufficient training of the customer’s tellers and management in the proper operation of our systems. We created a new customer support group to design training documentation and programs to help the situation.

All in all this first year was a great success for all our associates and me. Soon I was asked by Earl, my boss to assume the responsibility for all products and the Director of Product Management.

Lessons learned:

1. When your associates assume responsibility for results, great things happen.

2. You can never get enough time in the field with both customers and your own associates.

3. Don’t hesitate to change your approach to solve a problem.

4. Constant and clear feedback to the associates who are responsible for doing the real work helps them improve and makes their jobs easier.

5. Constantly recognize your associates for the successes that are achieved.

CEO of Remote Banking

CEO of Remote Banking

My new career started with a great learning experience. I of course lived in a hotel during the week and drove home every Friday and returned Sunday evening until the family moved. This first 6-week period with the company was spent in a practical learning mode that was invaluable.

Every morning I met with our customer relations manager, a seasoned experienced salesman, for coffee before breakfast with visiting customers. We had customers visiting us nearly every day. In addition to teaching me customer relations William also thought me everything he knew about our products and systems and how they worked. For the first two weeks I was required to spend at least 4 hours each day observing product presentations and demonstrations in our display hall and accompanying the groups on our plant tours.

At that time nearly everything was done in the main plant. Administration, accounting engineering, manufacturing, service, and a dinning hall. We had three other manufacturing facilities. One down the road that manufactured the bulk of my products and one in a near by town that manufactured metal under counter furniture. The only other manufacturing facility was in upstate New York where we manufactured Pneumatic tube systems and large mechanical files. The only other offsite facility was a warehouse. At his time we manufactured Safes, Vault doors, Drive in windows, Remote banking Pneumatic tube drive up systems, Metal furniture, Safe Deposit Boxes, Night Depositories, File systems, Pneumatic Tube systems, and distributed a cash dispenser made in England. We also provided complete delivery, installation, and service for all of our products.

Most lunches and dinners were spent with visiting customers. I spent the remaining part of my days learning about the remote banking business. Here is where I put on my CEO cap and started to roam around the entire company learning from everyone who had anything to do with my products. I also had a great assistant, Bob, who had been in the department for many years and could point me in the right directions. He was a great help and a great mentor to me. In addition, I was assigned a very capable and experienced secretary who was of great assistance in directing me to the right places in our company and knowing who really was important to our mission. Connie was with me for about a year.

I talked to engineers, manufacturing foreman, the manufacturing men and women on the line, packers, shippers, accountants, order entry people, the documentation group, sales, advertising, and salesmen in the field.

This was an interesting experience because I don’t think any other product managers took the CEO concept to heart. Some times I had to explain to people why it was my business to talk to them and why I had the responsibility without the line authority. I think this is where I really learned to lead rather than manage people. Because I did not have authority over them I had to persuade, encourage, and motivate them to do what I thought was necessary for success. Eventually they began to understand the concept and started to help me. That is when real success began to happen.

Lessons learned:

1. Informal time like breakfast, lunch, or dinner is a great way to understand your customers needs and desires.

2. Never underestimate the value of learning from experienced associates.

3. When moving into a new situation spend time understanding and listening to the aspirations of your new associates. The return in the form of support and assistance is invaluable.

4. Take the time to learn all your company’s products and systems and how they work together or compliment each other.

5. Talking and listening to the people who do the work that makes your products perform will provide the best input you will ever get to maximize your results.

6. When others begin to take ownership of your business and assume responsibility for results, you will see great results.