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Short Take: Retail banks address customer concerns

Despite public expressions of confidence in the robustness of their systems, retail banks recognize the seriousness of failing to deal with the Y2K concerns of their customers. Market analysis firm, Datamonitor, asserts that banks still expect an increase in customer inquiries. Banks also are working on plans to handle increases in call volume. While the majority of institutions are expecting calls to ramp-up starting in October, several banks do not anticipate a spike in volume other than during the immediate New Year period.

    Despite public expressions of confidence in the robustness of their systems, retail banks recognize the seriousness of failing to deal with the Y2K concerns of their customers. Market analysis firm, Datamonitor, asserts that banks still expect an increase in customer inquiries. Banks also are working on plans to handle increases in call volume. While the majority of institutions are expecting calls to ramp-up starting in October, several banks do not anticipate a spike in volume other than during the immediate New Year period.