Seeking an advantage in a highly competitive industry, banks, brokerages and mutual fund operators will triple their spending on Web self-service software over the
next three years, according to Meridien Research.
"Although a large percentage of institutions already have some Internet-based self service options, very few today offer advanced facilities such as structured dialog
and virtual agents," said Richard Bell, a senior analyst with the Newton, Mass., firm. "As a result, investment in Web self-service is a significant
differentiator and potential competitive advantage."
The 500 largest financial service firms will boost budgets for direct deployments of self service applications from $33.9 million in 2001 to $99.8 million in 2004,
Meridien estimates.
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Web self service includes a variety of offerings including frequently asked questions (FAQs), search engines, databases with natural language query options,
structured dialogue systems and virtual agents.
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Meridien was founded in 1997 and is privately held. It focuses on three areas: e-financial services, trading and risk management and customer relationship management.
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