MPS
Small Business: return to the craft of relationship Ettore Carneade Head of Small Business Market GRUPPOMONTEPASCHI Italy
Paris, April 8th 2010
AGENDA
Presentation of the Montepaschi Group (MPS) Small Business at MPS Customer needs & business opportunities Customer segmentation as a source of relationship empowerment Small Business approach: the “think small first” philosophy Non-interest income: better service or credit risk prevention?
Bancassurance as a means of strengthening the customer relationship Direct channels @ Small Business: The MPS perspective
Executive summary and key points Customer and territories are our polar star
Relationship is our strength Relationship pillars: know your customer, commercial planning, overall relationship quality of relationship Our business plan is draft on customer needs’ knowledge The “think small first” Small Business approach: small enterprises but big customers A special value: the join venture with AXA
Bancassurance: specific selling processes Direct channels for behavioral changes among Small Business customers
4
Presentation of the Montepaschi Group (MPS)
Introduction “Customers and territory are our polar star” (Antonio Vigni - General Manager)
Each DTR (retail department) has overview on more or less 40 branches
More than 3,000 branches
5
Presentation of the Montepaschi Group (MPS)
Overview of MPS Group Monte dei Paschi di Siena is one of the main banks in Italy. It is the flagship of the MPS Group, which is the third Italian largest banking group and leader, on the domestic market, in terms of market share in all areas of business
With some 32,000 employees and over 3,000 branches, the Montepaschi Group offers, to more than six million customers, a wide range of financial services and products to private individuals and corporations
* Figures at September 2010
6
Presentation of the Montepaschi Group (MPS)
We are the oldest bank of the world 1472
MPS was founded. The bank, known as Monte di Pietà, was originally established by the Republic of Siena for the purpose of providing a controlled source of lending for the local community and to fight usury
1624
1936
1995
1999
The Bank changed its name in Monte dei Paschi di Siena. It became the ideal heir of Siena’s prestigious medieval mercantile and banking traditions, developing an efficacious system of credit to the advantage of the local economy
The Bank was declared a Public Credit Institution (Istituto di Credito di Diritto Pubblico). It was organised under a new charter, which remained in force until 1995 The banking firm was incorporated as a Joint Stock Company (Società per Azioni). A decree by the Minister of the Treasury, gave birth to two entities: the Fondazione Monte dei Paschi di Siena and the Banca Monte dei Paschi di Siena S.p.A.
The MPS was listed on the Milan Stock Exchange, marking a fundamental milestone in the process of strengthening the Group’s size and competitiveness
7
Presentation of the Montepaschi Group (MPS)
MPS Business Model
8
Small Business people for MPS Group
Small Business customers Enterprises in MPS group: Key client: > 200 million turnover; SME: > 5 million of turnover; Small business: < 2.5 million of turnover and individual firms (between 2.5 and 5 million the classification depends on the economic activity) Singole persone fisiche 25%
Società 61%
Ditte individuali 14%
Different classes of SB: 61% under form of society (incorportaed, limited and unlimited liability companies) 39% individual firms (single person or individual messrs)
A large range of activities. The principal are: small trade, agriculture, craftmanship, touristic services.
Dati a fine 2010.
9
Small Business people for MPS Group
Small Business network SERVICE MODEL
R E T A I L
RELATIONSHIP PLACE
FAMILY OFFICE
Family Office center
PRIVATE
PRIVATE banking center
FAMILY
AFFLUENT SMALL BUSINESS
- BRANCH C O R P O R A T E
SME
SME center
PA
PA center
KEY CLIENTS
Key Clients Commercial service
10
Small Business people for MPS Group
Small Business network SERVICE MODEL R E T A I L
Centro PRIVATE RELATIONSHIP PLACE Centro Family Office
FAMILY AFFLUENT SMALL BUSINESS
- BRANCH -
Structured branches (44%): (PaschiVAlore) > 6 employees
Small branches (56%): (Commercial) < 6 employees
Centro ENTI
11
Small Business people for MPS Group
Small Business team The SB team members have different profile depending on the branch they belong to: 56% RM (1.600) in commercial branch (NPV).
Commercial role
Description
SB RM in a structured branch
SB RM with customer’s portfolio (average 180 customers) and dedicated time in PaschiValore btanches.
SB RM in a commercial branch
SB RM with customer’s portfolio (MAX 180 customers) but with also customers of other service models ( affluent and family,) in a commercial branch.
SB RM and Team manager
SB RM who has a customer’s portfolio while is the branch team manager (commercial branch)
SB RM in a structured branch
SB RM in a commercial branch
44% RM (1.300) in structurate branch (PV).
BMPS
SB RM and Team manager
Dati a fine 2010.
12
Small Business people for MPS Group
Small Business team
Since our origin relationship is our strength. MPS was founded as "monte di pietà“ (pawnshop) so the ancient small business were among our former customers.
In the 3rd millenium we confirm this shape of relation, not randomly but founding it on CRM analysis and plannified activity durign each year
Dati a fine 2010.
13
Customer needs & business opportunities
SB relationship: the pillars
KNOW YOUR CUSTOMER
Each RM has an identified customers’ portfolio whose he’s supposed to know composition, characteristics, need and relation’s economics.
COMMERCIAL PLANNING
Customer needs
OVERALL RELATIONSHIP
Credit
Commercial planning
Commercial targets
Commercial
Services
QUALITY OF RELATIONSHIP
Credit with quality Quality of relation
Quality of assets Quality of enterprise
14
Customer needs & business opportunities
SB relationship: the pillars
KNOW YOUR CUSTOMER
COMMERCIAL PLANNING
OVERALL RELATIONSHIP
QUALITY OF RELATIONSHIP
Each RM has an identified customers’ portfolio, of which is requested to know composition, characteristics, needs and relation’s economics.
At the basis of commercial plan there is the CRM based analysis of customers’ needs matched with an organized contacts’ activity. This one, under name of “Metodo” (Method) is the monthly RM’s contacts plan, is decided in centralized form for each local group of branch (territorial departements)
RM relationship concerns the whole range of customers’ needs: credit (loans, mortages) commercial needs, deposits, services (payments’ services, insurance protection, private welfare
Relationship value depends by his quality: need’s satisfaction, quick answers, regular contacts, multichannel approach, prevention of attrition .
15
Customer needs & business opportunities
SB Commercial Plan 2011: guidelines
Qualityimpieghi loans 1. 1.Crescita development di qualità
Loans growth in best potential economic activities: tourist services, agriculture, small trade and retailer, entrprise services Growth mix di crescita: 60% outsight 40% insight Loans pack: tourist services, craftmanship, work’s safety
2. Acquisition 2. Crescita della base
Dedicated acquisition campaign Action plan with national enterprise Association Re-acquisition of best EVA based lost customers
clienti SB 3. Credit quality
Preventive action on >40gg not authorized withdraw Empowered action in stock of past due (Basel II) Portfolio remix rating based
4. Insurance risk protection
Regular offer of insurance soluzions (jv with Axa) Dedicated selling process and creation of a protection mindset Starting of private welfare action
5. Deposits
6. Repricing and economics
Dedicated time deposits and bonds Retention activity Bundling loans/deposits Repricing with target risk adjusted Attention for mispricing Services commission development
16
Customer segmentation as a source of relationship empowerment
Customer needs and possibilities: relationship and implications
KNOW YOUR CUSTOMER and RM’S PORTFOLIO
? What kind of customer
? What’s its size and its potential
? Which needs
17
Customer segmentation as a source of relationship empowerment
Customer segmentation as a source of relationship empowerment
MPS sub segmentation: MAXI MEDIUM MINI NEW CUSTOMERS OTHERS
Each RM portfolio is divided among classes of customers, identified for size . The RM has to know the composition of his portfolio. Cemtralized CRM activity fixes.: Needs to which offer any banking solution; Kind of activity and growth capacity;
Services for each customers’ class. For each type of customers there a fixed contacts’ frequency.
Dati a novembre 2010.
18
Small Business approach: the “think small first” philosophy
Small Business approach: the “think small first” approach Since our foundation the smaller entrepreneur is our best customer. We fit really the european Commission “Smal business act” and its main claim “think small first”. Activity with smaller enterprises and individual firm is a real driver for our economics growht. The capillary presence in Italy still allows us to play the privileged role of being one of the few banks present in town - if not the only one! In commercial planning it’s possibile to find a special attention and dedicate offering, to develop evey day the relation wiht “small enteriprises but big customers” European rules present classification criteria for SME.
Small Business
19
Small Business approach: the “think small first” philosophy
Microbusiness in BMPS
Microbusinesses are a significant part of our customer base: Our goal is to take care of them, at 360 !!! 190.000 customer Rating Activity
20
Non-interest income: better service or credit risk prevention?
Economics 31/12/2010
Commercial planning contains the overall action for the best economics results, which are the last and most target of year action" 1. Quality loans development 2. Acquisition 3. Credit quality 4. Insurance risk protection 5. Deposits 6. Repricing and economics
Financial interest margin: conditioned by official rate and market situation and by top rate fixed by law. Very important one to one repricing activity.
Commission margin: failed the forecast of overcoming of this margin against interest margin. Good figures in payment services income, limits intoduced by PSD, slow down of wealth management contribution.
Expected loss: increasing weight also because of Basel III rules. Strong prevention action expecially on signs of first credit's difficult. Plannified action on remix loans' portfolio for type of economic activity and class of rating.
Net operative performance: in spite of expected loss increasing weight net risults in SB remains very good, also risk adjusted or EVA measured.
21
Non-interest income: better service or credit risk prevention?
Our ratings: A.I.R.B. and PD & LGD boundaries
– – – – –
INFORMATION FOR PD Balance Credit performance Bankit database Qualitative elements Enterprises groups
Counterpart specific
INFORMATION FOR LGD – Type of loans – Guarantees – Trusters
Activation only for Default
Independent from customer’s specifics
Since 2006 MPS has adopted the Basel advanced rating system, AIRB. Each SB has its own rating, which firstly defines loans capacity, price fixed in risk adjusted terms (Rorac and EVA based) and relationship evolution.
Also rating and its price are competences of the RM.
22
Non-interest income: better service or credit risk prevention?
Rating - pricing relation: pricing risk adjusted The elements of price
Cost of capital
Price
Law fixed cap (prevention of usury)
Taxes
Expected loss
Cost of capital Expected loss Operating costs Cost of funding The best
Rating
The worst
For the worst ratings, expected loss and the usury ceiling prevent the Bank from covering the total cost of credit
23
Bancassurance as a means of strengthening the customer relationship
Bancassurance as a means of strengthening the customer relationship
Important strategic Joint Venture: AXA-MPS in bancassurance
A large range of solutions are available for all enterprise & entrepreneur insurance needs
Development of private pensions
Financial solutions for deposits investments.
Because of this strong and innovative JV, each RM becomes also an insurance seller, with standardized solution. Since 2010 the “entrepreneur” offering line is available to SB customers.
24
Bancassurance as a means of strengthening the customer relationship
Specific selling processes: the right protection proposal in each moment of a SB relation Beacuse of the importance of “protection” need we believe that this kind of offer allows a real srengthening of relation. We’ve fixed a codified selling process, to exploit every contact whit customer with an insurance proposal. The actual figures show a strong growth of this business and the presence of our branch with an interesting activity.
25
Bancassurance as a means of strengthening the customer relationship
Bancassurance as a means of strengthening the customer relationship We’ve also exploited further ways to contact our customers fod an insurance proposition. Taking advantage of a substantial email address & full privacy consent database, we performed two direct-emailing initiatives: 1. An email action to all customers present in the panel (about 8,000 mail sent); 2. A contact activity by remote banking accesses, with personalized offer
STRENGTHS
Small Business and entrepreneur are used to working with e-mailing. The object of the mail may interest our customer. Low cost (e-mailing vs paper mailing) Environmentally sustainable marketing (paper saving)
REDEMPTION 4%
26
Direct channels @ Small Business: The MPS perspective
Small Business usage of direct channels: MPS’ perspective • The annual commercial plan provides strategic guidance in terms of multichannel banking, accommodating for behavioral changes occurring among our SB customers: Multichannel and migration
• Infrastructural investments to sustain the continuous evolution of the user experience on direct channels • Focused investments in targeted training, synchronised with the commercial objectives • Migration on direct channels of lower value transactions, freeing up time for supporting the relationship with the customer
• Among the latest key passages we performed in the multichannel space, we would like to highlight: Over 400 ATMs installed with “cash-in” functionality – this turned out to be particularly effective to support SBs with a lot of cash handling The launch of the deposit-only card: a product to allow employees to deposit cash on the SB account The launch of customer-specific messages on the Internet Banking homepage (secure site). This initiative, paired with the usage of a newly acquired DEM (direct emailing) platform opened up for a ‘personalised commercial dialogue’ also on direct channels (which the customers seemed to appreciate with a 4% redemption, as per the previous slide).
27
Thank you for attention !
Paris, April 8th 2010
AGENDA
Presentation of the Montepaschi Group (MPS) Small Business at MPS Customer needs & business opportunities Customer segmentation as a source of relationship empowerment Small Business approach: the “think small first” philosophy Non-interest income: better service or credit risk prevention?
Bancassurance as a means of strengthening the customer relationship Direct channels @ Small Business: The MPS perspective
Executive summary and key points Customer and territories are our polar star
Relationship is our strength Relationship pillars: know your customer, commercial planning, overall relationship quality of relationship Our business plan is draft on customer needs’ knowledge The “think small first” Small Business approach: small enterprises but big customers A special value: the join venture with AXA
Bancassurance: specific selling processes Direct channels for behavioral changes among Small Business customers
4
Presentation of the Montepaschi Group (MPS)
Introduction “Customers and territory are our polar star” (Antonio Vigni - General Manager)
Each DTR (retail department) has overview on more or less 40 branches
More than 3,000 branches
5
Presentation of the Montepaschi Group (MPS)
Overview of MPS Group Monte dei Paschi di Siena is one of the main banks in Italy. It is the flagship of the MPS Group, which is the third Italian largest banking group and leader, on the domestic market, in terms of market share in all areas of business
With some 32,000 employees and over 3,000 branches, the Montepaschi Group offers, to more than six million customers, a wide range of financial services and products to private individuals and corporations
* Figures at September 2010
6
Presentation of the Montepaschi Group (MPS)
We are the oldest bank of the world 1472
MPS was founded. The bank, known as Monte di Pietà, was originally established by the Republic of Siena for the purpose of providing a controlled source of lending for the local community and to fight usury
1624
1936
1995
1999
The Bank changed its name in Monte dei Paschi di Siena. It became the ideal heir of Siena’s prestigious medieval mercantile and banking traditions, developing an efficacious system of credit to the advantage of the local economy
The Bank was declared a Public Credit Institution (Istituto di Credito di Diritto Pubblico). It was organised under a new charter, which remained in force until 1995 The banking firm was incorporated as a Joint Stock Company (Società per Azioni). A decree by the Minister of the Treasury, gave birth to two entities: the Fondazione Monte dei Paschi di Siena and the Banca Monte dei Paschi di Siena S.p.A.
The MPS was listed on the Milan Stock Exchange, marking a fundamental milestone in the process of strengthening the Group’s size and competitiveness
7
Presentation of the Montepaschi Group (MPS)
MPS Business Model
8
Small Business people for MPS Group
Small Business customers Enterprises in MPS group: Key client: > 200 million turnover; SME: > 5 million of turnover; Small business: < 2.5 million of turnover and individual firms (between 2.5 and 5 million the classification depends on the economic activity) Singole persone fisiche 25%
Società 61%
Ditte individuali 14%
Different classes of SB: 61% under form of society (incorportaed, limited and unlimited liability companies) 39% individual firms (single person or individual messrs)
A large range of activities. The principal are: small trade, agriculture, craftmanship, touristic services.
Dati a fine 2010.
9
Small Business people for MPS Group
Small Business network SERVICE MODEL
R E T A I L
RELATIONSHIP PLACE
FAMILY OFFICE
Family Office center
PRIVATE
PRIVATE banking center
FAMILY
AFFLUENT SMALL BUSINESS
- BRANCH C O R P O R A T E
SME
SME center
PA
PA center
KEY CLIENTS
Key Clients Commercial service
10
Small Business people for MPS Group
Small Business network SERVICE MODEL R E T A I L
Centro PRIVATE RELATIONSHIP PLACE Centro Family Office
FAMILY AFFLUENT SMALL BUSINESS
- BRANCH -
Structured branches (44%): (PaschiVAlore) > 6 employees
Small branches (56%): (Commercial) < 6 employees
Centro ENTI
11
Small Business people for MPS Group
Small Business team The SB team members have different profile depending on the branch they belong to: 56% RM (1.600) in commercial branch (NPV).
Commercial role
Description
SB RM in a structured branch
SB RM with customer’s portfolio (average 180 customers) and dedicated time in PaschiValore btanches.
SB RM in a commercial branch
SB RM with customer’s portfolio (MAX 180 customers) but with also customers of other service models ( affluent and family,) in a commercial branch.
SB RM and Team manager
SB RM who has a customer’s portfolio while is the branch team manager (commercial branch)
SB RM in a structured branch
SB RM in a commercial branch
44% RM (1.300) in structurate branch (PV).
BMPS
SB RM and Team manager
Dati a fine 2010.
12
Small Business people for MPS Group
Small Business team
Since our origin relationship is our strength. MPS was founded as "monte di pietà“ (pawnshop) so the ancient small business were among our former customers.
In the 3rd millenium we confirm this shape of relation, not randomly but founding it on CRM analysis and plannified activity durign each year
Dati a fine 2010.
13
Customer needs & business opportunities
SB relationship: the pillars
KNOW YOUR CUSTOMER
Each RM has an identified customers’ portfolio whose he’s supposed to know composition, characteristics, need and relation’s economics.
COMMERCIAL PLANNING
Customer needs
OVERALL RELATIONSHIP
Credit
Commercial planning
Commercial targets
Commercial
Services
QUALITY OF RELATIONSHIP
Credit with quality Quality of relation
Quality of assets Quality of enterprise
14
Customer needs & business opportunities
SB relationship: the pillars
KNOW YOUR CUSTOMER
COMMERCIAL PLANNING
OVERALL RELATIONSHIP
QUALITY OF RELATIONSHIP
Each RM has an identified customers’ portfolio, of which is requested to know composition, characteristics, needs and relation’s economics.
At the basis of commercial plan there is the CRM based analysis of customers’ needs matched with an organized contacts’ activity. This one, under name of “Metodo” (Method) is the monthly RM’s contacts plan, is decided in centralized form for each local group of branch (territorial departements)
RM relationship concerns the whole range of customers’ needs: credit (loans, mortages) commercial needs, deposits, services (payments’ services, insurance protection, private welfare
Relationship value depends by his quality: need’s satisfaction, quick answers, regular contacts, multichannel approach, prevention of attrition .
15
Customer needs & business opportunities
SB Commercial Plan 2011: guidelines
Qualityimpieghi loans 1. 1.Crescita development di qualità
Loans growth in best potential economic activities: tourist services, agriculture, small trade and retailer, entrprise services Growth mix di crescita: 60% outsight 40% insight Loans pack: tourist services, craftmanship, work’s safety
2. Acquisition 2. Crescita della base
Dedicated acquisition campaign Action plan with national enterprise Association Re-acquisition of best EVA based lost customers
clienti SB 3. Credit quality
Preventive action on >40gg not authorized withdraw Empowered action in stock of past due (Basel II) Portfolio remix rating based
4. Insurance risk protection
Regular offer of insurance soluzions (jv with Axa) Dedicated selling process and creation of a protection mindset Starting of private welfare action
5. Deposits
6. Repricing and economics
Dedicated time deposits and bonds Retention activity Bundling loans/deposits Repricing with target risk adjusted Attention for mispricing Services commission development
16
Customer segmentation as a source of relationship empowerment
Customer needs and possibilities: relationship and implications
KNOW YOUR CUSTOMER and RM’S PORTFOLIO
? What kind of customer
? What’s its size and its potential
? Which needs
17
Customer segmentation as a source of relationship empowerment
Customer segmentation as a source of relationship empowerment
MPS sub segmentation: MAXI MEDIUM MINI NEW CUSTOMERS OTHERS
Each RM portfolio is divided among classes of customers, identified for size . The RM has to know the composition of his portfolio. Cemtralized CRM activity fixes.: Needs to which offer any banking solution; Kind of activity and growth capacity;
Services for each customers’ class. For each type of customers there a fixed contacts’ frequency.
Dati a novembre 2010.
18
Small Business approach: the “think small first” philosophy
Small Business approach: the “think small first” approach Since our foundation the smaller entrepreneur is our best customer. We fit really the european Commission “Smal business act” and its main claim “think small first”. Activity with smaller enterprises and individual firm is a real driver for our economics growht. The capillary presence in Italy still allows us to play the privileged role of being one of the few banks present in town - if not the only one! In commercial planning it’s possibile to find a special attention and dedicate offering, to develop evey day the relation wiht “small enteriprises but big customers” European rules present classification criteria for SME.
Small Business
19
Small Business approach: the “think small first” philosophy
Microbusiness in BMPS
Microbusinesses are a significant part of our customer base: Our goal is to take care of them, at 360 !!! 190.000 customer Rating Activity
20
Non-interest income: better service or credit risk prevention?
Economics 31/12/2010
Commercial planning contains the overall action for the best economics results, which are the last and most target of year action" 1. Quality loans development 2. Acquisition 3. Credit quality 4. Insurance risk protection 5. Deposits 6. Repricing and economics
Financial interest margin: conditioned by official rate and market situation and by top rate fixed by law. Very important one to one repricing activity.
Commission margin: failed the forecast of overcoming of this margin against interest margin. Good figures in payment services income, limits intoduced by PSD, slow down of wealth management contribution.
Expected loss: increasing weight also because of Basel III rules. Strong prevention action expecially on signs of first credit's difficult. Plannified action on remix loans' portfolio for type of economic activity and class of rating.
Net operative performance: in spite of expected loss increasing weight net risults in SB remains very good, also risk adjusted or EVA measured.
21
Non-interest income: better service or credit risk prevention?
Our ratings: A.I.R.B. and PD & LGD boundaries
– – – – –
INFORMATION FOR PD Balance Credit performance Bankit database Qualitative elements Enterprises groups
Counterpart specific
INFORMATION FOR LGD – Type of loans – Guarantees – Trusters
Activation only for Default
Independent from customer’s specifics
Since 2006 MPS has adopted the Basel advanced rating system, AIRB. Each SB has its own rating, which firstly defines loans capacity, price fixed in risk adjusted terms (Rorac and EVA based) and relationship evolution.
Also rating and its price are competences of the RM.
22
Non-interest income: better service or credit risk prevention?
Rating - pricing relation: pricing risk adjusted The elements of price
Cost of capital
Price
Law fixed cap (prevention of usury)
Taxes
Expected loss
Cost of capital Expected loss Operating costs Cost of funding The best
Rating
The worst
For the worst ratings, expected loss and the usury ceiling prevent the Bank from covering the total cost of credit
23
Bancassurance as a means of strengthening the customer relationship
Bancassurance as a means of strengthening the customer relationship
Important strategic Joint Venture: AXA-MPS in bancassurance
A large range of solutions are available for all enterprise & entrepreneur insurance needs
Development of private pensions
Financial solutions for deposits investments.
Because of this strong and innovative JV, each RM becomes also an insurance seller, with standardized solution. Since 2010 the “entrepreneur” offering line is available to SB customers.
24
Bancassurance as a means of strengthening the customer relationship
Specific selling processes: the right protection proposal in each moment of a SB relation Beacuse of the importance of “protection” need we believe that this kind of offer allows a real srengthening of relation. We’ve fixed a codified selling process, to exploit every contact whit customer with an insurance proposal. The actual figures show a strong growth of this business and the presence of our branch with an interesting activity.
25
Bancassurance as a means of strengthening the customer relationship
Bancassurance as a means of strengthening the customer relationship We’ve also exploited further ways to contact our customers fod an insurance proposition. Taking advantage of a substantial email address & full privacy consent database, we performed two direct-emailing initiatives: 1. An email action to all customers present in the panel (about 8,000 mail sent); 2. A contact activity by remote banking accesses, with personalized offer
STRENGTHS
Small Business and entrepreneur are used to working with e-mailing. The object of the mail may interest our customer. Low cost (e-mailing vs paper mailing) Environmentally sustainable marketing (paper saving)
REDEMPTION 4%
26
Direct channels @ Small Business: The MPS perspective
Small Business usage of direct channels: MPS’ perspective • The annual commercial plan provides strategic guidance in terms of multichannel banking, accommodating for behavioral changes occurring among our SB customers: Multichannel and migration
• Infrastructural investments to sustain the continuous evolution of the user experience on direct channels • Focused investments in targeted training, synchronised with the commercial objectives • Migration on direct channels of lower value transactions, freeing up time for supporting the relationship with the customer
• Among the latest key passages we performed in the multichannel space, we would like to highlight: Over 400 ATMs installed with “cash-in” functionality – this turned out to be particularly effective to support SBs with a lot of cash handling The launch of the deposit-only card: a product to allow employees to deposit cash on the SB account The launch of customer-specific messages on the Internet Banking homepage (secure site). This initiative, paired with the usage of a newly acquired DEM (direct emailing) platform opened up for a ‘personalised commercial dialogue’ also on direct channels (which the customers seemed to appreciate with a 4% redemption, as per the previous slide).
27
Thank you for attention !
