Wednesday, January 26, 2011

Offshore Excellence: Building the proposition your customers most want


Offshore Excellence: Building the proposition your customers most want

Buy Now  : Market Research
Datamonitor’s Offshore Banks Survey of more than 40 players across 6 centers underpins a detailed Offshore Excellence Model for banks. The report identifies the critical compenents of a successful offshore proposition, and assesses 9 major offshore bank against the components in the Excellence Model.

Offshore Excellence: Building the proposition your customers most want

Scope
  • Datamonitor’s proprietary Offshore Banks Survey of more than 40 players, covers the needs and decision triggers of offshore clients.
  • The survey was conducted in Guernsey, Jersey, Isle of Man, Switzerland, Hong Kong and Singapore
  • The Peer Group was analysed in 5 areas of excellence: Bank accounts, Investments, Ancillary services, Technology and Customer Service
  • Peer Group: Abbey In’tl, Barclays Wealth Int’l, Citi Int’l Pers. Bank, HSBC Int’l,Lloyds TSB Int’l, DBS Bank, Standard Chartered, Credit Suisse & UBS
Highlights
Nearly 70% of Channel Islands/ Isle of Man’s offshore client base is domiciled in Western Europe (and around half are based just in the UK), which is a legacy of the strength of the UK banks in those centres.
Multiple currency accounts will be among the most important features of both deposit and savings accounts within two years, especially in the Channel Islands and IoM. In these centers, 41% of wealth managers cited the availability of multiple currency deposit accounts as one of the most important features for their clients in two years’ time.
The pressure brought to bear upon offshore centers has fundamentally changed the way the banks do business there. These conditions mean that banks must proactively approach clients affected both by specific amnesties and by the more general shift in sentiment, to ensure they make it easy for clients to move funds between countries.
Reasons to Purchase
  • Understand your clients’ offshore needs. Use our Offshore Banks Survey results to see what offshore clients want in terms of products and services
  • See which of your competitors are doing things right. Our in-depth analysis of 9 Offshore banks provides the benchmark for Best Practice
  • Build/upgrade your offshore proposition. The 5 areas of excellence helps ensure your service meets the needs of offshore clients

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