1. Fake Bank White Background Presentation for Printing January 2005 Fake Bank

2. 1 bermani Table of Contents Page Background and Methodology……………………………………………………..2 Executive Summary………………………………………………………………….6 Relative Importance of the Twelve Web Site Features Tested……………….7 Relative Importance of the Levels within the Twelve Web Site Features Tested……………………………………………………………………….11 Priorities for Improving FirstUnion.com………………………………………….22 Web Site Improvements Overall…………………………………………………………….22 Retaining and Deepening First Union Customer Relationships………………………….31

3. 2 bermani Background and Methodology Fake Bank

4. 3 bermani Background and Methodology Key Drivers of Web Site Loyalty* (First Unions View of How the Key Drivers Are Organized) Speed Allows me to conduct business quickly Pages load quickly Navigation Screens are uncluttered Information is easy to find Ease of use Clear and straight forward information Online help function is useful Content Provides the online products and services I need Impressed with the information on the site Security/Privacy I trust the firm to protect my privacy Access Dependable site Being able to get onto the site Brand Firm was not trying to sell me something *An outcome of the key driver analysis is that each driver is assigned a weight that tells how important the driver is in contributing to web site loyalty as compared to the other drivers. This pie chart shows what proportion of the importance comes from each area.

5. 4 bermani Fake Bank and Methodology – Tradeoff Features and Levels FeatureRep-Assisted HelpOnline HelpSecurity Home Page Content Page Load Speed Site Availability Levels within Feature The web site is always up and available. The web site is down occasionally Web site pages load within the time it takes to snap your fingers. You have to wait for pages to load. While online, you can get help by calling a service rep who can view your screen. You may have to wait for a rep to become available. You can get help by interactively "chatting" with a rep while online (communicate back and forth to get clarification or ask more questions interactively). You may have to wait for a rep to become available. You can get help by calling an 800 number and speaking to a customer service rep who cannot view your screen. There is little or no wait time for a rep to become available. You can get help by sending an email to the firm to schedule a service call. A rep will call you back when it is convenient for you. For a question or to get help, you can type in your question and instantly receive a computer-generated response. You can get help by sending an email message and a service rep emails your answer within 2 hours. You can get help by sending an email message and a service rep emails your answer within 24 hours. Firm emails a security message verifying certain account activity such as a large withdrawal or unusual credit card activity. For certain types of transactions that you want to be more secure, you can request an additional log in step. There are no security alerts or additional log in steps. In addition to information on financial products, the homepage features a wide range of other information such as news, weather, shopping links and financial planning information. The homepage includes just information on the financial products this firm offers.

6. 5 bermani Background and Methodology – Tradeoff Features and Levels Feature Levels within Feature You can see the products and services a firm offers on the homepage before going to the page to log on to your accounts. You can bypass the homepage and go directly to the page to log in to your accounts. After entering your password, you go to a standard log in page that has a menu of all transactions. You can customize your log in page so that there are buttons to take you directly to the transactions you use most often. Ability to see 12 months of transaction history online. Ability to see 3 months of transaction history online. You can easily download information to financial software such as Quicken or Microsoft Money. You cannot download information to financial software such as Quicken or Microsoft Money. The firm sends a timely email verifying that you conducted business online, set up a new account, traded, or requested service. The firm does not send an email verifying that you conducted business, set up a new account, traded or requested service. You can call special technical reps for certain types of support such as setting up and/or using your accounts. For any type of online issue or question, you contact general service reps. Customization Accessing Accounts Financial Software Transaction History Special Service Reps Confirmations

7. 6 bermani Executive Summary Fake Bank

8. 7 bermani Relative Importance of the Twelve Web Site Features Tested Fake Bank

9. 8 bermani Relative Importance of the Twelve Tradeoff Features Fake Bank Customers Total Market Security 12% Site Availability 11% Page Load Speed 10% Rep Assisted Help 10% Confirmations 10% Online Help 10% Download to Financial Software 8% Homepage Content 7% Transaction History 6% Customization 6% Accessing Accounts 5% Special Service Reps 5% Security 12% Site Availability 11% Page Load Speed 10% Rep Assisted Help 10% Confirmations 9% Online Help 9% Download to Financial Software 8% Homepage Content 8% Transaction History 6% Customization 6% Accessing Accounts 6% Special Service Reps 5%

10. 9 bermani Security12%113%113%112%1 Site Availability11297112112 Page Load Speed103103103103 Rep Assisted Help104104104104 Confirmations1051129596 Online Help1069696105 Download to Fin. Software87958787 Homepage Content78788878 Transaction History697961069 Customization610511611611 Accessing Accounts51141269610 Special Reps512610512512 Total Online Visitors Only Online Banking Only Online Banking and Bill Pay Relative Importance of Features Relative Importance of the Twelve Tradeoff Features ImportanceRank

11. 10 bermani Key Drivers of Web Site Loyalty – Customer Value Proposition Relative Importance of Tradeoff Features Customer Value Proposition Relative Importance of the Twelve Tradeoff Features

12. 11 bermani Relative Importance of the Levels within the Twelve Web Site Features Tested Fake Bank

13. 12 bermani Relative Importance to All Respondents Relative Importance of the Levels within the Features Security 12% Emails security message82% Requested additional log in step15 No security alerts 3 Security All First Union Customers Confirmations 10% Firm sends timely email verifying that you conducted business online97 Firm does not send email verifying that you conducted business online 3

14. 13 bermani Relative Importance of the Levels within the Features Financial Software 7% Efficiency Can easily download information to financial software e.g., Quicken or Microsoft Money Cannot download information to financial software e.g., Quicken or Microsoft Money All First Union Customers Site Availability Always up and available Site down occasionally 11% Page Load Speed 10% Pages load in time it takes to snap fingers Have to wait for pages to load Transaction History 6% Ability to see 12 months of transaction history online Ability to see 3 months of transaction history online Customization After entering password, go to standard log in page that has menu of all transactions Can customize your log in page with buttons that take you to your most frequently used transactions 6% Accessing Accounts 5% Can see products and services firm offers on homepage before going to log in page for your account Can bypass home page and go directly to log in page for your accounts Relative Importance to All Respondents 99% 1 99 1 95 5 71 29 40 60 31 69

15. 14 bermani Special Service Reps Relative Importance to All Respondents Relative Importance of the Levels within the Features Rep-Assisted Help 10% Call a service rep who can view your screen45% Interactive chat with rep online26 Call 800 #, speak to rep who cant view your screen21 Send email and rep will call back when convenient for you 8 Customer Assistance All First Union Customers Online Help 10% Type in a question and instantly receive a66 computer-generated message Send email to service rep,30 who responds within 2 hours Send email to service rep, 4 who responds within 24 hours You can call special technical reps for certain types of support e.g., setting up your account 92 For any type of online issue or question, 8 you contact general service reps 5%

16. 15 bermani Relative Importance to All Respondents Relative Importance of the Levels within the Features Home Page Content 7% In addition to financial products information, homepage features a wide range of other39% information e.g., news, weather Home page includes just information61 on financial products Content All First Union Customers

17. 16 bermani Fake Bank.com and Best Case Web Site Preference for FirstUnion.com Relative to Best Case and Least Preferred Web Sites Indexed Scores (Best Case = 100) No security message Site down occasionally Wait for pages Send email to firm No email confirmations Email response in 24 hours Not easy to download Wide range of information 3 months of history Standard log-in See homepage Contact general reps. Emails security message Always up and running Pages load quickly Call rep who can view screen Email verifying business was conducted Instant computer generated response Easy to download Just financial products 12 months of history Customize log-in By-pass home page Can call special reps. Features: Security: Site Availability Page Load Speed: Rep. Assisted Help: Confirmations: Online Help: Financial Software: Homepage Content: Transaction History: Customization: Accessing Accounts: Special Service Reps: No security message Site down occasionally Wait for pages Call rep who can view screen No email confirmations Email response in 24 hours Not easy to download Wide range of information 3 months of history Standard log-in See homepage Call technical reps.

18. 17 bermani Fake Bank.com vs. Competitor Web Sites Preference for First Union.com Relative to Competitors Web Sites Indexed Scores (Best Case = 100) No security message Site down occasionally Wait for pages Call rep who can view screen No email confirmations Email response Not easy to download Wide range of information 3 months of history Standard log-in See homepage Call technical reps. Features: Security: Site Availability Page Load Speed: Rep. Assisted Help: Confirmations: Online Help: Financial Software: Homepage Content: Transaction History: Customization: Accessing Accounts: Special Service Reps: Emails security message Site down occasionally Wait for pages Call 800 #, rep cant view screen No email confirmations Email response in 24 hours Easy to download Just financial products 12 month of history Customize log-in See homepage Contact general reps. Emails security message Always up and running Pages load quickly Call rep who cant view screen Email verifying business was conducted Email response in 2 hours Easy to download Wide range of information 12 months of history Customize log-in By-pass homepage Contact general reps.

19. 18 bermani Enhanced Web Site vs. Current Web Site Percent of Firms Customers who Agree that Web Site with Enhancements is Significantly Better than Existing Web Site Percent Strongly Agree/Agree Caution: small sample size except First Union and Investment Firms.

20. 19 bermani Likely to Recommend the Web Site to Others Total MarketFirst Union Enhanced Web Site vs. Current Web Site Likely to Recommend Web Site

21. 20 bermani Likely to Continue to Visit Web Site or Use Online Services Total MarketFirst Union Enhanced Web Site vs. Current Web Site

22. 21 bermani Brand – Switch Providers Likely to Consider a Competitors Web Site Percent Likelihood to Consider How likely would you be to switch firms if... N/A Total Market* First Union * Asked of respondents who do not currently do business with this firm If Current Web Site did not include Enhancements but Citibank did If Current Web Site did not include Enhancements but Wells Fargo did Likely to Consider First Union

23. 22 bermani Priorities for Improving FirstUnion.com Web Site Improvements Overall Retaining and Deepening First Union Customer Relationships Fake Bank

24. 23 bermani First Union Site Fake Bank – Priorities for Web Site Improvement Site Availability Emails Security Message Increase Page Load Speed Firm Emails Confirmation Additional Login Steps Download to Finan. Software Bypass Homepage Instant Computer Response Custom. Login Page Homepage Has Only Financial Products Info. Email Answer Within 2 Hours 12 Mos. Transac. History Interactive Help Service Rep. Can View Screen 37.9 46.4 54.9 62.7 69.9 75.9 79.9 87.8 91.6 94.5 97.7 98.9 100 83.9 8.98.58.57.87.26.04.04.03.93.83.22.91.21.1 Number of Points Added with Enhancement Tier 1 PrioritiesTier 2 PrioritiesTier 3 Priorities

25. 24 bermani Points*Rank Fake Bank – Priorities for Web Site Improvement Total Vulnerable/ At-Risk to Web Site** Highly Loyal/Loyal to Web Site*** Points*RankPointsRank First Union Customer Web Site Improvement Priorities *Points – Adding this feature will add this number of points toward becoming best case web site. **First Union customers whose web site loyalty is vulnerable or at-risk. These customer are showing indications of not using the web site in the future. ***First Union customers who are highly loyal and loyal to web site. These customers show indications of using the web site in the future. Site availability8.918.159.21 Email security message8.528.628.73 Pages load quickly8.538.639.02 Email confirmations7.848.917.44 Additional login steps7.258.446.85 Easy to download to financial software6.066.965.76 By-pass home page4.073.873.110 Instant computer generated help messages4.083.683.59 Customized log in page3.993.693.67 Homepage has only financial products info3.8103.2113.012 Email response to message within 2 hours3.2112.9123.68 12 months of transaction history2.9123.6103.011 Interactive chat with service rep.1.2132.1131.414 Service rep can view screen during call1.1140.6141.413 71.072.969.4 Current preference for First Union site29.027.129.7

26. 25 bermani Loyalty to the firm: Share of wallet with First Union Likelihood to recommend First Union Likelihood to remain a customer in next 12 months Likelihood in the next 12 months to switch some business from First Union to another firm Likelihood to switch most of business to another firm Assuming you had additional money to deposit (into checking, savings, MMA or CD), likelihood of making this deposit at First Union Assuming you had additional money to invest, likelihood of investing most of it with First Union Assuming you needed to borrow money, likelihood of applying for a loan at First Union Web site loyalty is made up of: Likelihood to recommend First Union web site to a friend Likelihood to continue visiting the web site or using First Unions online banking, bill payment, or trading services Extent to which customers are only visiting First Unions site or only using First Unions online services if they are shopping or using other financial services web sites Loyalty to Fake Bank – Background

27. 26 bermani Loyalty to Firm – Background Low Share of Wallet with Firm High Low High Committed Potential Vulnerable At Risk Future Intentions Loyalty to the Financial Services Firm High share and strong future intentions to continue and deepen relationship Low share of wallet with firm Strong intentions to continue and deepen relationship Low share of wallet with firm Weak future intentions High share of wallet Future intentions to continue and expand relationship are weak

28. 27 bermani Loyalty to Firm vs. Loyalty to Web site Web Site Loyalty Total MarketFirst UnionTotal MarketFirst Union Highly Loyal Loyal Vulnerable At-Risk or Unattached At-Risk Vulnerable Potential Committed Loyalty to Website Loyalty to Firm Loyalty to Firm Committed/ Potential Vulnerable/ At Risk

29. 28 bermani Web Site Improvement Priorities to Increase Loyalty to Firm Committed/ PotentialVulnerable/ At-Risk Deepen and Enhance Relationship Committed Potential to Firm* Retain Customers Vulnerable or At - Risk to Firm* * Reported for Market Overall, First Union sample sizes too small **Points – Adding this feature will add this number of points toward becoming the best case web site Points **Rank Points **Rank Site availability8.5 2 8.5 3* Email security messages8.6 1 9.1 2* Pages load quickly7.6 4 9.6 1 Email confirmations8.0 3 8.3 4 Additional login steps7.4 5 7.8 5 Easy to download to financial software5.9 6 7.0 6 Bypass homepage (accessing accounts)3.1 11 3.1 10 Instant computer generated help messages4.6 7 5.1 7 Customize login page3.3 9 4.2 8 Homepage with just financial products3.1 10 3.1 11 Email response within 2 hours3.7 8 4.1 9 12 month transaction history2.4 12 2.6 12 Interactive chat with service rep1.8 1.3 1.6 13 Service rep can view screen during call 1.1 14 0.8 14

30. 29 bermani Loyalty to Firm 12% 6% 11% 16% Loyalty to firm higher than web site loyalty 46% Web site loyalty higher than loyalty to firm At-Risk Vulnerable Potential Committed Loyalty to Firm At-RiskVulnerableLoyalHighly Loyal Web Site Loyalty vs. Loyalty to Firm – Total Market Web Site Loyalty

31. 30 bermani Fake Bank White Background Presentation for Printing January 2005 Fake Bank