Webster Bank Picks Harte-HanksWebster Bank, Waterbury, CT, the main subsidiary of Webster Financial Corp., will use Harte-Hanks' Allink CDM to assist Webster's acquisition of Firstfed America Bancorp Inc., Harte-Hanks Inc. said yesterday.
The database marketing initiative seeks to help Webster develop a unified customer relationship management platform, spot and address customer overlap and attrition and provide sophisticated data mining capabilities at the branch level.
Firstfed, Swansea, MA, has 26 branches in Massachusetts and Rhode Island. Harte-Hanks will integrate retail and business customer data from the company's custom database with Webster Bank's existing Harte-Hanks database marketing solution, which houses data for customers of its 119 branches spanning Connecticut and New York.
The integrated database also will let Webster identify customer overlap and alert any large deposit holders of options should they now have more than $100,000 in deposits with the same institution, thus ensuring compliance with Federal Deposit Insurance Corp. regulations.
After integration, Harte-Hanks, San Antonio, will assist Webster in spotting and addressing possible deposit attrition, identifying the most profitable retail and small business customers and developing strategies for segmentation and upsell/cross-sell campaigns.