One industry where companies have begun aggressively differentiating
their customers by value is banking. Banks cannot survive in today's
more demanding less loyal and competitive financial services environment
if they are losing money on half their customers. Indeed, our studies
found that as many as 40-50% of retail customers are unprofitable.
In an article published in the RRI (Retail Banker International,
July 2000) Bill Dalton the CEO of HSBC Bank revealed plans to offer
the cheapest deals to HSBC customers, Dalton described this plan
as “relationship pricing based on the relationship the bank
has with its customers”. This is a refreshing departure from
glossy marble towards a more customer-focused business model shifting
away from a one-size-fits-all retail product offer to an information-based
segmentation of customers.
Case Studies
Winterthur
Insurance
PRISM was retained by Switzerland’s largest non-life insurer
to evaluate a pan-European IT platform for the administration of
individual health products. www.winterthur.com
Click
"more" to read about this engagement.
UBS
Asset Management
Focused
to serve the needs of the Maltese investor with the leading fund
provider in Switzerland and one of the largest asset managers in
the world, CRYSTAL Finance Investments faced the task of penetrating
a fragmented market dominated by retail banks like HSBC.
These
financial institutions enjoyed market dominance through their “brick
& mortar” branch network. CRYSTAL Finance Investments
needed to look for alternative distribution channels for UBS collective
investment schemes.
CRYSTAL
required a customer strategy embracing the one-to-one marketing
concept synonymous with wealth management. According to Markus Steinmann,
Executive Director of UBS AG "PRISM was instrumental to combine
the global expertise of UBS with the local market knowledge." www.ubs.com www.crystal.com.mt
Send us
an e-mail and we will send you the "PDF" version of the
contact management programme or go to our archive to view any related
content.
Mid-Med Bank
Mid-Med
Bank takes university campus by storm: Every year around
October, the major retail banks in Malta pull out their big guns
to conquer the fresher’s market at University and other higher
education campuses in the Maltese Islands. Every year, students
get away with plenty of freebies for opening up an account with
as little as Lm5 with the major banks.
Click
"more" to read the case study or download the brochure
in PDF.
Lohombus Bank
PRISM
helps Lohombus Bank reposition its home savings scheme by targeting
the first time home buyer market segment via the internet.
Click
"more" to read the case study or download the brochure
in PDF.
MIMBOL Private Banking
Mid-Med
Bank Overseas Limited engaged PRISM to analyse customer prospects
and drive more effective campaigns.
Click "more"
to read the case study or download the brochure in PDF.
Other Engagements
If you are interested
to know more about our involvement in the Financial Services sector
please contact us. Following
is a selection of other engagements.
Maltapost
In the wake of its privatisation
programme, the Maltese postal authority registered an original corporate
identity with the help of PRISM. www.maltapost.com
CGU
Insurance
The Malta agent for CGU Insurance
needed a proof of concept business discovery assignment. We assisted
in a supervisory role at a strategic level, advising the commercial
director responsible for the project within the Malta organisation.
www.gasanmamo.com.mt
Rothschilds Group
VFM
(Valletta Fund Management) is an affiliate of the Rothschilds Group
and is Malta’s leading provider of primary listed collective
investment schemes. www.vfm.com.mt
Industry Sectors
Click on any of the following sectors to read about our success stories
and review industry specific case studies.
Customer
Loyalty in the Wind of Change, an interview with Daniel Stiefel
of Winterthur Insurance
It is vital now
more than ever that companies retain existing customers and
encourage repeat purchases as the task of acquiring new customers
is costly and time consuming, says Daniel Stiefel of Winterthur
Insurance. Click on the <more> button below for the
full interview.
Banking on customer
differentiation
Many banks are beginning to take similar steps to deal with
this issue. Banca Santander of Spain for instance, has kept
on increasing the minimum balance required to receive free
cheque books on current accounts.
Other banks are applying sophisticated "scoring"
processes to their entire customer base in order to determine
both current and potential profitability on an individual
basis. Canadian Imperial Bank of Commerce, Wachovia Bank and
others have pursued this path.
Health Insurance
We all have one life and we all hope to live
it well. Besides hoping we can also do a lot more to make
sure we really live our life well.
Those
in the health insurance sector think how to provide protection
in case things don't work like the way we hope. Individual
health insurance policies are available in a number of European
markets that cater for such eventualities.
Better
Customer Service Through Technology
AGF, one of the major financial services players
in France, is leading the way in online Customer Relationship
Management solutions by providing personalisation to online
insurance agents and consumers. One critical success factor
for AGF was the technology platform from ATG. To know more
about this case study download the following PDF version or
contact Thomas Jaeger on +49 - 17 3657 5557 for more information.
White Papers
Emerging Business Models in Loyalty
Management
In search of the business model without the small e
in front.
eBusiness in Private Banking
Financial institutions are operating in increasingly
open global markets and heading for critical events, cannot
ignore the irreversible trend towards new, technology-based
business models in their sector.
Focus on Private Banking
Private Banking in the Wind of
Change
One industry that started to differentiate clients
by value is private banking. The reason is clear. Wealth management
institutions cannot survive in today's more demanding less
loyal and competitive financial services environment if they
are losing money on half their customers.
Most financial institutions have been put under pressure
by the current market conditions to cut costs, slowing down
growth. New management solutions are required to achieve efficiency.
An interview with Miomir
Tomovic, Independent Management Consultant, with a
special focus on Private Banking.
In
collaboration with
Archive
For more Case Studies, Research,
White Papers and PRISM Brochures view our archive.
UBS
Asset Management
These
financial institutions enjoyed market dominance through their “brick
& mortar” branch network. CRYSTAL Finance Investments
needed to look for alternative distribution channels for UBS collective
investment schemes.
Mid-Med
Bank takes university campus by storm: Every year around
October, the major retail banks in Malta pull out their big guns
to conquer the fresher’s market at University and other higher
education campuses in the Maltese Islands. Every year, students
get away with plenty of freebies for opening up an account with
as little as Lm5 with the major banks.
PRISM
helps Lohombus Bank reposition its home savings scheme by targeting
the first time home buyer market segment via the internet. 
Mid-Med
Bank Overseas Limited engaged PRISM to analyse customer prospects
and drive more effective campaigns.
Maltapost
CGU
Insurance
VFM
(Valletta Fund Management) is an affiliate of the Rothschilds Group
and is Malta’s leading provider of primary listed collective
investment schemes.
