* The Victory Bank Case
The Victory Bank Case
List of Figures
Valued Customer Experience
The Main Challenges
Extending market presence
List of Literature
* List of Figures
This paper deals with a Bank Case. All the information is based on an invented case. The objective is to analyse the current situation, finding out their problems and in order to that coming up with a suitable strategy to solve the problems regarding Customer Relationship Management. The first chapter deals with the current situation. The positive and negative aspects will be listed. The outcome of this is a conclusion. This will lead to the main challenges the Victory Bank has to deal with which is described in the second part of the work.
In 1999, Victory Groep operated a re-organisation of Victory Bank and since then realized that the actual situation is getting worse and worse.
Product and service description
A distinction in customers is made by the Victoriebank in the next 5 groups: * Basic Private customers
* Top Private customers
* Top Plus Private customers
* Corporate customers
* Large Corporate customers
All the 7,012 customers of Victoriebank are divided in one of the group according to criteria set by the board of directors. These selection criteria per group are: * Basic Private customers: (4,655 customers) All customers who are not part of the Top or Top Plus groups * Top Private customers: (712 customers)
* Minimally satisfy one of the three criteria:
* An Accumulated capital of more than 50,000 Euro (in savings, home fund or investment account) * A Mortgage worth more than 250,000 Euro
* A Monthly supply of more than 3,000 Euro into the current account
* Top Plus Private customers: (139 customers) An investment account of more than 250,000 euro
* Corporate customers: (1,284 customers) All corporate customers who are not part of the Large corporate customers
* Large Corporate customers: (222 customers) A Loan (short/continuous and/or medium and/or long term) of more than 500,000 Euro
Each department has its own customers and therefore its own products. This strategy was chosen during the reorganization in 1999. Although this product deviation looked quite logical, in practice it appeared that the needs for some products are covered by more then one group, like insurance. All the products per group have a profitability number. Victorie bank divided this profitability into points in a scale of 0 to 10. Whereas 0 is the lowest and 10 is the highest. The deviation of profitability points can be found in attachment 1. The distinction is made into three groups, namely Basic Private customer products, Top Private customer products and Corporate customer products. Within the Top Private, the information of the Top Plus Private customers can also be found. This also counts for the Corporate customer products (-information Large Corporate products).
In the Victorie Bank Dronten, it was decided that, instead of the product, the customer should be the central focus point: what does the customer want and what can we, as the Victorie Bank, do to help the customer solve his problems. The thought that central management from Rotterdam would be less suitable was quickly shared by...
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