29 November 2015


Retired Member

1,294Posts 4,403,288Views 1,543Comments

Innovation in Financial Services

A discussion of trends in innovation management within financial institutions, and the key processes, technology and cultural shifts driving innovation.
A post relating to this item from Finextra:

NatWest opens branches early as online problems continue to hit millions

22 June 2012  |  8953 views  |  6
NatWest opened around 1000 branches one hour early Friday morning in a bid to placate millions of customers unable to access online services for a second day running.

What should RBS do first? Account Management Best Practice

26 June 2012  |  3159 views  |  0

What should RBS do first to clear up the mess left behind from the computer failure?

Managing Customer Relationships

Now I might be looking at this over critically through the eyes of a person who deals with best sales practice and account management sales methodology on a daily basis for Fintech companies but communication through mass media is not a personal touch. Did your Company Bank Manager contact you and discuss what issues this computer failure will have on your business? No, then how do you rate your local Bank Manager now? Low, not as a Trusted Advisor but as a Vendor but s/he is really important to your future success. There is a total miss match going on here.

Segmenting Your Account

The first lesson you learn with a Targeted Account Management approach is knowing which customer contacts you should be contacting first within a company and understanding the customers importance to your business. Your A accounts. If I was the Bank Manager I would be getting on the phone and not waiting for my best customers to come to a branch bank and be lumped in with everyone else.

Analyzing Opportunities

If the bank shows no service to their customers, they will have little faith in your future relationship. The customer is probably starting to feel concerned about their business and questioning whether the bank are providing a good enough service because their suppliers are also worrying futher down the line. Customers don't like shocks, so cushion the blow quickly.

Creating Your Account Plan

If I use my carefully understood account management skills, I would have explained the ramifications to my customer and outline what they expect from me. In return I would  tell them what I expect from them to rectify the knock-on effects the problem may have caused. 

Implementing the Plan

Total Alignment 
is the key to business success and an important part of concluding bad business well. Understanding the difficulities before they arise and not letting third parties interfer with your customer satisfaction is all in the planning. But you have to implement the account plan now!

TagsMobile & onlineRisk & regulation

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Latest posts from Retired

Big Data Pitfalls: The Amateur Data Scientist

26 October 2015  |  1624 views  |  0  |  Recommends 0 TagsInnovation

Reflections on FinovateFall: Mobile, Money and Millennials

24 September 2015  |  1083 views  |  0  |  Recommends 0 TagsPaymentsInnovation

Interoperability: Prerequisite for Next Generation of Mobile Money

08 September 2015  |  1905 views  |  0  |  Recommends 0 TagsPaymentsInnovation

Think More Broadly: Banks CAN Monetize Cash Transactions

31 August 2015  |  1565 views  |  0  |  Recommends 0 TagsPaymentsInnovation

Software development in the retail FX Industry

28 August 2015  |  387 views  |  0  |  Recommends 0 TagsTrade execution

Retired's profile

job title
member since 2014
Summary profile See full profile »

Retired's expertise

What Retired reads
Retired writes about

Who's commenting on Retired's posts

Ketharaman Swaminathan
Brendan Burge
Astrid Mitchell
Balasubramaniam GD
Tony Ballardie
Graham Seel
Bjorn Soland
John Candido
Gregg Weintraub
Stanley Epstein
Charmaine Oak
Roy Vella