DALLAS, June 13,
2022 /PRNewswire/ -- In response to the evolving
consumer and small business banking landscape, Comerica
Incorporated (NYSE: CMA) announced additional changes to its Retail
Banking division to enhance how it supports customers and small
businesses, builds more meaningful relationships and serves as a
partner within its communities.
"While we are constantly evaluating how we serve our customers,
the accelerated pace of change has us acting with even more
urgency. Within our retail bank, we continue to focus on
transforming the delivery of our services, aligning the right
resources to best serve our customers and enhancing our small
business focus," said Cassandra
McKinney, Comerica Bank's Executive Director of the Retail
Bank.
"We are at the beginning of a multi-year modernization journey,
as discussed on our first quarter earnings call," continued
McKinney. "From clarifying colleague roles and improving processes,
to investing in marketing and technology, to building capabilities
that will help us deepen and grow our customer base – we are
reimagining everything that impacts our customers and how we best
enable our colleagues. We are further building on the strengths of
our team of bankers who work hard every day to build relationships
and deliver solutions."
Since March 2022, Comerica has
transformed its Retail leadership team under the direction of
Cassandra McKinney, Executive
Director of the Retail Bank with the addition of several new roles
to its roster, which includes veteran leader Rhonda Davenport, National Director of
Retail Banking. New leaders include: Omar Salah, Director,
Small Business Banking; Theresa
Bazan, National Sales Enablement Director for Consumer
and Small Business Banking; Dharmesh
Patel, Director of Retail Business Services;
Brian Haney, Director of
Strategy & Transformation; and James
Johnson, Director of Retail Risk Management &
Operations.
Comerica's Retail Banking transformation also involves:
- Adding more focused roles, such as small business bankers in
strategic locations, which enable colleagues to spend more quality
time with customers and develop deeper, more meaningful
relationships.
- Redeveloping colleagues in the areas most important to
customers: Comerica is making a significant investment in its
colleagues' expertise to provide customers with the information,
products and services they need.
- Implementing various enhancements to technology and processes
that will help streamline customer interactions and minimize
friction, such as significant updates to our web and mobile banking
platforms.
- Redesigning the banking center model to optimize customer
experiences, respond to unmet customer needs, serve its communities
and drive growth.
One example of the various initiatives undertaken in recent
years by Comerica to identify and leverage technology innovations
to meet the needs of its customers better is its introduction of
Banker Connect Interactive Teller Machines (ITM). Comerica first
launched this ITM concept seven years ago, introducing technology
that combines traditional ATM capabilities with the ability to
interact in real-time with a customer service representative via a
live video stream to complete transactions with extended hours.
During the pandemic, Comerica accelerated the expansion of its ITM
network in response to the evolving needs of its customers. Learn
more about Banker Connect here.
"In addition to our transformation efforts, we are also
constantly reviewing our network to ensure we strategically have
banking centers located in the communities we serve based on
customer needs, population, and traffic patterns. Where demand is
not as strong, we consolidate locations. We can then reallocate
those resources to capture and serve our markets more effectively
or expand into new areas. We also reinvest into initiatives to
streamline banking center processes, add more focused roles,
improve digital channels, and diversify our products – ultimately
enhancing the customer experience and allowing colleagues to work
more efficiently," said McKinney.
Changes impacting Comerica's banking center network include
consolidating 22 of its existing 432 U.S. locations across three of
its retail markets, targeted for completion in September 2022: 3 in California, 11 in Michigan, and 8 in Texas.
While these adjustments to Comerica's banking center network
represent change, Comerica Bank remains steadfastly focused on
serving as a strong partner and trusted advisor for all of its
customers, both now and into the future. Customers served by
impacted locations may choose from a variety of available options
for banking services including other local banking centers, and
through Web Banking, Mobile Banking, telephone, Banker Connect ITM
or ATM.
Comerica Bank is a subsidiary of Comerica Incorporated (NYSE:
CMA), a financial services company headquartered in Dallas, Texas, and strategically aligned by
three business segments: The Commercial Bank, The Retail Bank, and
Wealth Management. Comerica focuses on relationships, and helping
people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in
Arizona, California, Florida and Michigan, with select businesses operating in
several other states, as well as in Canada and Mexico. Comerica reported total assets of
$89.2 billion as of March 31, 2022.
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SOURCE Comerica Incorporated