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Scale and scope, in addition to creating efficiencies for investors, create a huge advantage with customers. Our nationwide franchise and unmatched distribution platform enable individuals and companies to do business with us when, where and how they choose. It also means that more customers and clients can keep their relationship with us intact even when they move their home or business.
It is a truism in business that real growth requires new ideas. Our record of innovation lets customers know we are constantly working to create value for them.
In our retail business last year, we had success with a number of innovative offerings. We enhanced our SafeSend® product, making it a free relationship-building service that enables customers with a checking account to send money directly to individuals in Mexico. We launched our Keep the Change™ feature, which helps customers save by rounding up debit card purchase amounts and moving the change to a linked savings account. And we launched our SiteKey™ online security feature, which has won several awards.
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Our wealth management business introduced a new trust product for the mass affluent market last year. And our investment banking group introduced a new electronic trading service platform that provides institutional investors with automated access to diverse liquidity systems and venues.
While innovation often relates directly to new products and services, we also are taking advantage of innovative thinking as we work in teams that span the company to create more value for customers and shareholders. Referred to generally as “Universal Bank Initiatives,” these projects require integrated planning and enterprise thinking to maximize the value of the company.
For example, the “Mortgage Business System” is designed to enable us to originate a variety of asset classes and then move those assets into the hands of investors through our securities distribution capabilities. Our goal is to expand our ability to meet customers’ needs across all market segments and create more value for our shareholders by exploiting business opportunities that span the enterprise.
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