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    The Peoples Bank, based in Connecticut, uses its web site as a key channel for reaching individuals, business customers, and prospects. Not only can customers e-mail the bank with questions, they can click on a link to have a bank representative call them with further information or choose another link if they want to chat online. In addition, prospects can open new accounts on line, checks with a few keystrokes. Now the company has expanded its financial services offerings by adding insurance products for consumers and buisnesses.

    What role is Peoples.com playing in thedistribution of these insurance products?
    What is the length of the channel the bank uses to distribute its own checking account products?
    How would you describle the channel positioning of Peoples's Bank? What is People's unique selling proposition (USP) or unique value propposition?

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    Solution Preview

    This issue is related to impact of ecommerce and its implication on banking and financial services

    With the offering of various banking services and personal finance management services, there would be a significant rise in the non-fund and fee based income. E-commerce based banks would derive their profitability from higher end services such as treasury, insurance , personal finance advisory, forex management. Also cash management services would come to the forefront of e-commerce based banks.

    The distribution of insurance through people.com is unique, offering a single window for all banking needs. It would enable customers to view and transact with the bank from their computers 24 hrs / 365 days a year, from anywhere in the ...

    Solution Summary

    This explains the concept of Ebanking and its advantages by taking the case of Peoples Bank