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Session Description:
This
presentation stems from a research
report published by Aite Group in April
2008, which considers the impact of
paperless initiatives associated with
prospectus delivery, statements, and
on-demand customer correspondence. The
report, based on an October 2007 survey
of 505 people in the United States,
input from technology executives at more
than a dozen capital markets firms and
discussions with leading vendors,
discusses investor preferences around
prospectus information, statements,
account aggregation interests and other
views on access to investor information.
There will be specific discussions on
how cost will ultimately serve as the
major driver for paperless efforts in
financial services. Many retail firms
have begun exploring paperless branch
concepts to eliminate the reams of paper
used and stored in branches. Customer
correspondence, including paper
statements, confirms and prospectuses
cost money, and are undervalued by their
recipients. If the Securities and
Exchange Commission (SEC) proposed
amendments in November of 2007 to reduce
the size and enhance the content of
mutual fund prospectuses takes effect,
it alone will save the industry more
than US$65 million annually in printing
and postage.
Essentially paper is an obvious area
where money can be saved while
addressing the growing amount of
environmentally aware consumers.
This session is appropriate for senior
financial services executives with
responsibility for Retail Banking,
Marketing, Product Management, Direct
Marketing, Marketing Research and
Strategy groups.
About James Kang:
James
Kang is a research associate at Aite
Group, LLC.
Prior to joining Aite Group, Mr. Kang
served as a new accounts associate at
FundQuest, a provider of Web-delivered
money management solutions for various
financial service institutions. He
worked with a broad range of clients
providing back-office support to
FundQuest managed and separately managed
accounts. Prior to working at FundQuest,
he was a fund accountant for State
Street Corporation working with various
MFS mutual funds.
Mr. Kang earned his B.A. from Tufts
University where he majored in
Economics. He is fluent in English and
conversational in Korean.
About Aite Group:
Aite Group is a leading independent research and advisory
firm focused on business, IT and regulatory issues and their
impact on the financial services industry.
Aite Group was founded by leading industry experts in
Banking and Securities & Investments. The corporate
philosophy of Aite Group is firmly rooted in the founders'
belief that in today's rapidly evolving financial services
industry, clients seek comprehensive, timely, actionable
advice.
Aite Group seeks to become a true partner, advisor, and
catalyst by exchanging ideas and challenging basic
assumptions to ensure that our clients always stay one step
ahead of the competition.
www.AiteGroup.com
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