Customer centricity is a strategic
focus within the group. The aim of our customer
strategy is to maximise the value of our interactions
with each customer, based on a sound understanding
of the customer and their total relationship with
the group. Development and refinement of technologies
and processes to achieve this objective are ongoing.
Through segmentation of our customer base, we
are better able to understand the servicing requirements
and solutions that will meet the unique needs
of each customer. Not only do we listen to what
customers need, we also proactively analyse and
recommend business solutions to customers and
focus management time and performance metrics
to ensure that these are delivered.
In Corporate and Investment Banking, the CRM
division has been building an integrated strategy
around its client base and, as in the past, relationships
were managed by individual business units. Strategic
planning is done around targeted primary clients
in order to understand the client business and
to build solutions for the client’s underlying
business issues. The client centric philosophy
that integrates the client management approach
across the business is underpinned by a systematic
total view of the client, across the entire client
base, in order to improve the management of
the
client relationship. The technology provides
a platform for people to understand the overall
relationship position at any given time. Special
safeguards have been built in to ensure confidentiality
and secured privacy.
Retail banking continually develops insights
into customer needs by considering internal learnings
and through market research. There are processes
in place at a branch level to resolve issues to
ensure customer needs are met. The Customer Relations
Centre (CRC) deals with escalated customer complaints,
and manages the customer relationship, to retain
customers and restore their confidence in Standard
Bank.
Information collected from customers is centralised
and the bank’s response is coordinated by using
the following measures:
- the bank established an organisational unit
that drives and ensures that the bank has a
single view of the customer;
- a standardised complaint management process
has been implemented for more effective resolution
and to improve business learning from these
experiences;
- an insights unit consolidates data and information
from different surveys and prepares it for different
business units’ use; and
- group communications meetings are held periodically
to share and align customer input from different
business units.
Information gathered from customers is used
to gain better customer insights that drive how
we improve service, product offering, and processes.
It is through understanding the demographics of
our customer base, that we are able to better
position our campaigns, service, product offering,
and plan the footprint of the bank’s distribution
channels. In addition, an analysis of the nature,
volume, and frequency of complaints, enable us
to channel resources into resolving the issues
and preventing them from recurring.
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