A.60% Rabobank could really make Belgium a second home base its online services and product 9 IDB WANT HIGH INTERESTO SAVINGS?: JL YES WITH W NOSTRINGS? ÜS]=Ï RaboPlus .Cl YES VISIT Stephane Vermeiren GM Rabobank, be) that would get lost in a larger set-up. In Ireland we were voted Best Retail Bank in 2007, a major achievement for a bank that doesn't have any branches. There are still opportunities in the market, as long as we look for genuine unique selling points. In the current fïnancial climate, we are seeing a flight to safety, to name one example. Our online banks are attractive to those customers, thanks to Rabobank's triple A status." New products and additional services are also a way to capitalize on an existing customer base and make an online direct bank more attractive to new customers. Gert Bouwman believes that the four operational Rabobank Direct Banks offer great potential for cross-selling, as market research shows high customer satisfaction and excellent loyalty scores, substantially higher than any of the competing online banks. To further improve cross-selling the direct banks also invested in a sophisticated marketing database and campaign management systems, plus training and education. The big challenge, however, is to add new products and services while maintaining a low-cost structure. An example of local development for local initiatives is Bizner, a direct bank based on innovative market segmentation. This online business bank was built with no-strings attached to existing Rabobank activities. "We studied the opportunity as if we were a foreign bank," explains Gert Bouwman. "We asked ourselves how a market challenger would approach the market segment of small and medium enterprises, and opted for a set of no-frills banking services undera new label. International Direct Banking coordinated the development, and now Bizner is attached to Rabobank Netherlands. We believe Bizner has international potential, but that is currently being evaluated." SHALL WE REPEAT THE QUESTION? AND BACKED BY THE WORLD-SSAFEST PRIVATE BANK?' Help yourself An advertisement example of RaboPlus Australia. Stephane Vermeiren thinks the Bizner approach would work in his country, as there are almost half a million independent entrepreneurs in Belgium. "For the moment though I think we should focus on lower hanging fruits. There are other opportunities that can be explored fïrst. Our customers are screaming for other products and services, and we would like to add simple investment products and perhaps even brokerage services to our portfolio. Our existing market and customers present enough challenges and opportunities that we can harvest first." Greg McAweeney sees similar opportunities in Australia. "We are focusing on product and distribution strategies across the investment product range. Our online banks could implement web tools to deepen our interaction with and enhance our relevance for customers. This will be particularly important for RaboPlus Australia, as superannuation is compulsory here and the investment market is complex and competitive." Stephane Vermeiren, General Manager Rabobank.be. THE WORD

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