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Survey reveals only 25% have an e-business strategy for 2001
and only half employ a dedicated head of e-business

London, UK, 26 January, 2001 - Only 25 per cent of financial services organisations within the Times Top 1000 companies have an e-business plan for the year of 2001, according to research published by e-business consultancy, Rubus.

The survey, conducted by research firm ICM in December 2000 on behalf of Rubus, found that whilst nearly all financial services organisations acknowledged the importance of an effective online presence, or using Internet technology, to the success of their business objectives, only half have a dedicated head of e-commerce or e-business to help them achieve it. What is more, 57 per cent admitted to other business matters taking priority, lack of in-house skills and board level support as key challenges to the successful implementation of these ventures

Furthermore, only just over half of those with responsibility for e-business had board level status, demonstrating a marked contrast between intention and commitment. This is despite the fact that 100% of respondents confirmed their intention to exploit new interactive channels such as interactive TV and mobile applications in 2001.

Michael Walton, CEO at Rubus said, "These results are surprising. It seems that whilst financial services companies recognise the potential benefits that e-business will bring to their commercial operations and invest in, they are failing to properly plan for it. It is a clear indication that the decision to get online is not being met with the appropriate strategies to get it right, which will inevitably mean that the investment they make may well not give them the returns they expect. In a broader sense, a lack of properly implemented online strategies will certainly damage UK plc."

"The success of interactive projects lies in commitment at all levels of the organisation, as well as proper planning and correct execution. Incorporating e-business into company initiatives is increasingly critical for ongoing success in what is now a global economy. If traditional financial services companies want to maintain their strong market position, they cannot afford to be complacent about how they go about running these initiatives," Walton added.

"Whilst it is clear that enterprise wide e-business is still yet to take off, it is clearly an objective for this year. Financial institutions just need to ensure they do not accept half measures," concluded Walton.

About Rubus

Rubus, based in London, Bracknell and Manchester, is an 'Interactive Architect. It specialises in helping companies exploit interactive channels, including the Web, interactive TV and mobile communications.

Services span strategy definition, creative and technical design, and systems development and integration. The company works with clients to develop ideas and strategies for exploiting interactive channels, helping them pursue their goals and translate these into creatively designed, technically robust, marketable and value-adding e-business solutions. Its aim is to do help them do this quickly, reliably and right first time.

Through relationships with product vendors such as ATG, Autonomy, BEA, INTERSHOP, Interwoven, Oracle, SUN, Tridion, Verity and Versata, Rubus is able to provide its customers with solutions that take advantage of the latest in interactive technology. Clients include B&Q, Waterstone's,, Granada Media, ONdigital, Nomura, Cazenove, IPC, Barkers Norman Broadbent,, and E W Blanch.

Rubus can be reached on the Web at:

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