New Market Report: Handelsbanken Case Study: Localizing Decision Making to Improve Customer-Centricity
New Financial Services market report from Datamonitor: "Handelsbanken Case Study: Localizing decision making to improve customer-centricity"
Boston, MA -- (SBWire) -- 06/01/2012 --Handelsbanken has achieved strong growth in the UK retail banking market, and this growth rate has increased even in the wake of the global financial crisis. The decentralized structure has allowed Handelsbanken to be more flexible with its offering and to tailor its products to its customers' needs. This customer-centric approach to banking has resulted in high levels of customer satisfaction.
- Be more customer-centric by understanding how a decentralized structure can help design products which cater for a customer's individuality.
- Achieve success by understanding how to market a proposition without national media campaigns.
- Rebuild trust with consumers through learning how a traditional model of banking can strengthen relationships with customers.
- Strengthen relationships with customers by learning the importance of a personalized approach to banking.
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Handelsbanken's decentralized model allows for the tailoring of certain products such as mortgages and loans to the individual needs of customers. This customer-centric approach to banking has resulted in high levels of customer satisfaction and loyalty for the bank.
Handelsbanken has grown solidly in the UK without the use of national media campaigns, instead relying on practices such as word of mouth marketing. Word of mouth marketing has a strong impact, as consumers trust their friends and family to recommend high quality products and will view these as "tried and tested".
Handelsbanken's decentralized structure is reminiscent of a more traditional model of banking. It is also a model which has helped Handelsbanken to emerge unscathed from two financial crises. This offers reassurance to the consumer and is likely to increase levels of trust.
Reasons to Get this Report
- How can a decentralized model make a FS provider more customer-centric?
- How does a branch focused model continue to succeed in retail banking?
- How is it possible to grow a business without national media campaigns?
- What are the benefits of tailoring products to customers individual needs?
Companies Mentioned in this Report: CMS Energy Corporation, Metro International S.A., Schindler Holding Ltd.
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