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Published by: Datamonitor
Published: May. 11, 2006 - 48 Pages
Table of Contents
- CHAPTER 1 INTRODUCTION
- Overview
- The basic measures of success
- CHAPTER 2 CRITICAL FACTORS
- Introduction
- There are 11 critical factors for successful mass affluent banking offerings in Europe
- An offering can be improved through its marketing and added value areas
- CHAPTER 3 CASE STUDIES
- Introduction
- ABN Amro Van Gogh Preferred Banking
- Introduction
- ABN Amro's Van Gogh Preferred Banking competes closely with local banks in the Asian mass affluent market
- Van Gogh Preferred Banking's financial offering is built around the needs of international clients
- Van Gogh Preferred Banking offers added value to clients in the form of special events
- Bank of America Premier Banking and Investments
- Introduction
- Premier Banking and Investments offers a service in which specialist attention is given to investment performance
- The investment aspect of the offering is tailored to give clients as much autonomy over their investments as they wish
- The Client Manager works in close conjunction with the Financial Advisor to offer a rounded service
- Barclays Premier
- Introduction
- Barclays Premier focuses on the Premier Manager as a single gateway to a range of practical solutions
- The standalone financial offering is designed to meet practical needs rather than offer a lifestyle choice
- Openplan is offered to clients as a convenient solution to a variety of needs
- Citigroup CitiGold
- Introduction
- CitiGold attempts to meet local client needs
- CitiGold in the USA: a service designed to meet practical needs
- Around the world CitiGold places a greater emphasis on non-banking benefits
- DBS Treasures Priority Banking
- Introduction
- DBS Treasures offers a rounded service focusing on the intangible aspects of premier banking
- The financial offering is comprehensive and competitive
- The lifestyle aspect of DBS Treasures is integral to the offering as a whole
- HSBC Premier
- Introduction
- HSBC targets a wide range of clients
- HSBC's financial offering is designed to draw retail clients up the banking ladder towards the private bank
- HSBC's non-banking offering focuses on travel and leisure
- Standard Chartered Priority Banking
- Introduction
- Maximising value to entrepreneurs complements the network offering
- Non-banking benefits are designed to reflect local needs
- United Overseas Bank Privilege Banking
- Introduction
- UOB Privilege Banking sells itself on its international scope and its appearance of exclusivity
- The UOB financial offering plays to the strengths of the bank as a whole
- The non-banking aspect of UOB Privilege Banking is one of the most comprehensive in Singapore
- CHAPTER 4 THE ULTIMATE MASS AFFLUENT OFFERING
- Introduction
- The Ultimate Offering is named and marketed innovatively and clearly at its target client base
- The Ultimate Offering has a relationship model based on the gateway principle
- The product range draws upon expertise from across the rest of the bank, developing external links where internal expertise does not exist
- The role of the Relationship Manager is continuous monitoring and reporting as well as taking a proactive approach to their clients' wealth
- The client is empowered to take part in managing their finances
- The Ultimate Offering ensures continuous access for clients
- The Ultimate Offering includes a range of non-banking benefits that match the clients' needs and lifestyle accessed through a linked credit card
- The Ultimate Offering product range encompasses a preferential banking, borrowing and investments offering with a clear product lead
- The Ultimate Offering exploits the full reach of the entire network
- CHAPTER 5 APPENDIX
- Further Reading
- Global Wealth Management SPP
- Interactive Databases
- Market Reports
- Strategic Insight Reports
- Wealth Management Competitor Tracker
- Datamonitor Asia Pacific Wealth Management SPP
- Savings and Investments SPP
- Interactive Databases
- Reports
- Briefs
- SPP writing team
- List of Figures
- Figure 1: The Ultimate Offering is built on nine main points
AbstractIntroduction
This report provides a detailed exploration of the current state of mass affluent offerings and premier banking services around the world, and constructs a prototype mass affluent offering based upon the analysis of case studies, which draws out the critical factors involved in creating a successful proposition.
Scope of this report
- Assesses the mass affluent service provided by 8 leading banking networks worldwide
- Includes insight from those within the industry regarding the development of mass affluent services
Research and analysis highlights
Global banks tend to pick and choose the markets in which their mass affluent service is launched, depending on the profile of that country. For example, despite having a presence across a number of markets, ABN Amro has chosen only to offer Van Gogh Preferred Banking in selected markets.
The non-banking side of many mass affluent offerings provides lifestyle benefits that are completely separate from the banking side of the offering. However, the more advanced mass affluent offerings are those that incorporate banking issues into the non-banking side, providing a rounded service.
Clients should be able to rely on their Ultimate Offering relationship manager to fulfill two main ongoing functions: to continuously monitor the state of their finances, reporting regularly to the client, and to take a proactive role in improving their clients' financial health.
Key reasons to read this report
- Gain insight into the successful mass affluent services offered by global competitors
- Understand the variation in market standards for mass affluent services worldwide
- Discover the key factors determining the success or failure of mass affluent offerings in a variety of markets
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