CLIENT FOCUS
The Word: Essentially, we're talking
about the need to cross-sell value-
added products to clients who offer us
growth potential?
The Word: Do you intend to export this
concept to other parts of the Group?
Arnold Kuijpers - keeping up momentum
Serge Fenenko - cross-selling is critical
competitive for us, as providers of fi-
nancial services. That competition will
certainly benefit the "better" clients.
Hor less disciplined and less financially-
stable companies, life will be harder. In
fact, although it's too early for any
kind of measurable feedback, I was
interested to receive a letter front the
CEO of a major corporate saying that
he understood and supports the need
for Rabobank to cross-sell in order to
improve overall returns to required
levels.
Serge Fenenko (SF): In the Netherlands,
domestic payment services are practi-
cally free, and loans are cheaper than
in the UK and US. It is great for our
clients, but it doesn't generate great
returns for the bank. The reality is we
don't just want to cross-sell, we have
to cross-sell to get returns sufficiënt for
our stakeholders. Plus, if the clients
want to have a sustainable relationship
witlt Rabobank as their major capital
provider, they should allow us to earn
higher returns by cross-selling value-
added services.
RS: It is vital that both relationship
managers and product specialists take
personal accountability for driving our
cross-selling activities. That is reflected
in the buy-in we have demanded for
account plans for each cliënt relation
ship.
MJS: I can't stress enough just how
important it is for the bank to get
alignment between product specialists
and relationship managers. That is
how we'11 be able to deploy the bank's
resources most effectively.
RS: We should get that discussion going
lt would be very helpful to applv this
approach to all corporate clients. But,
you have to start somewhere. The logi-
cal choice is RNCC because of the po
tential offered by our market share
and position.
AK: There will be another program
with more or less the same structure
for regional corporate clients in the
Netherlands banking with our local
bank network. It's also vital that we
keep up momentum for the coming
months and years. Changing behaviour,
both individual and group, can be
tough. So it is important that we drive
this now.
The Word I
