News & Views - Savantor

We all love a survey

Monday, 13 June 2011

Summer is on the way which always seems to usher in survey season.  Researchers will be competing for our attention probably in order to tell us that by next year contactless and NFC will be a thing of the past and we will all be accessing our money residing in the iCloud via whatever device Apple have come up with.  So here is one survey to set us on our way.  Banks find themselves under growing pressure in the relationships they have with their Irish and UK customers, as loyalty, satisfaction levels and behavioural patterns are continuously going down.  According to the research conducted by Accenture,

  • the number of British customers likely to purchase their next financial product from their current provider declined from 66% in 2007 to 46% in 2010.
  • UK costumers who had actually purchased new products from their bank within a 12-month period fell from 29% in 2007 to 22% in 2010.
  • the number of British customers claiming they were satisfied with their bank declined from 84% in 2007 to 73% in 2010.
  • the number of UK costumers who would recommend their provider to family and friends fell from 64% in 2007 to 58% in 2010.
  • the percentage of UK customers who complained to their financial institutions increased from 14% in 2007 to 17% in 2010.
  • UK and Irish costumers prefer using online banking services provided by their financial institutions. 69% of respondents claimed using online banking on a daily or weekly basis, compared to19% who use branches, 7% who use mobile channels and 6% who use call centres with the same frequency.
  • UK respondents aged 18 to 24 were 50% more likely than others to move to another bank, with nearly one in five saying they planned to switch one or more products from their current bank within 12 months.

Probably nothing very surprising in these results given the bad press banks have had recently.  Perhaps they should have asked how many British customers are satisfied with Sepp Blatter?

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Commercial Card Migration

"Execution at its best. We're delighted that this project has been truly outstanding and received an award from 'The Banker'. Savantor provided crucial expertise that helped us keep all our promises in terms of delivery. The scheduling, planning and control regime throughout was excellent."

Chris Mason, Director - Commercial Cards EMEA - Citi - UK

Acquirer Risk Assessment

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Mark Healy, Chief Risk Officer - NEOVIA Financial - UK

Business and Platform Strategy

"Savantor successfully advised Rabobank during preparing of the platform migration for cards. Savantor demonstrated thorough knowledge of business processes and market players combined with a practical approach."

Evert Fekkes, Business Information Manager - Rabobank - Nederland

New Payments Initiative

"In moving our new initiative into reality, we required specialist payments knowledge and forward thinking in the retail sector. Savantor supplied this and provided very effective guidance throughout. We enjoyed working with them."

Sophie High, Head of Innovation Delivery - Cancer Research UK

Acquirer Strategy and Operating Model

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Mikko Hyttinen, SVP - Lending Services - OP-Pohjola Group - Finland

Credit Risk Review for New Product Launch

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Sami Karhunen, Head of Business Intelligence and SME Sales - Point Transaction Systems Oy - Finland

Payment Specialists

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Idsert Walta, Head of Banking Categories - Nordea - Scandinavia

Card Processing Migration

"Disciplined methodology and effective teamwork, guided by Savantor's migration expertise and operational knowledge, were the hallmarks that led to the resounding success of this project, enabling us to maintain and develop our business capability."

Robert Lambert, Head of Cards Strategy - Permanent tsb bank - Ireland

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