Financial Services

Case Study: Global Banking Institution

Situation
This bank was seeking to secure a greater share of the affluent (not super-wealthy) market on a global basis. At the time, the bank had a disparate and low profitability array of offerings scattered across the globe. The bank’s affluent business service was well received in Asia, but had limited awareness and success beyond. In addition, the bank had insufficient knowledge about the share-building power of an affluent product “bundle.” The bank was interested, therefore, in understanding how to build its affluent business globally, whether its franchise could be expanded beyond Asia, and, if so, how— which offerings and services should be available at all and which should be standardized globally vs. vary by country?

Solution
Detailed qualitative and quantitative research was completed in 12 countries to uncover stated and latent affluent customer needs. Among the resulting recommendations were to add Investments Services and other key services to the affluent product “bundle” to build appeal—and to build a global wealth sub-brand which could be used as an acquisition vehicle to build long-term relationships with affluent customers. Various services/offerings were also discontinued in cases where the research indicated negative payback. Overall, we were able to evolve the disparate array of offerings into a globally branded emotion-driven, loyal consumer based, profitable offerings bundle.

Results
The bank’s affluent brand and business is now firmly established across Europe, Asia and the Indian Sub-continent. More than 200,000 high-net-worth customers have been acquired worldwide and the bank is now a recognized, premier brand of prestige financial services.

Contact John Rosen for more information.