Oliver Saake and Christina Kunz
Simpler, more structured advice for investment customers – with an optimized product portfolio
Securities business for customer account is a cornerstone of the relationship management for retail customers in the cooperative financial network. Volksbanken Raiffeisenbanken customers are looking for investment products that are easy to understand and offer the potential for attractive returns, especially in the prolonged period of low interest rates.
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This led to growth in the range of structured securities products over the years. However, more than ever before, investment customers now expect to be informed and advised about the selection of banking and investment products suitable for their needs (which in some cases have changed), and the further development of
Covering customer needs with a focused product range
“We set out to offer the advisors in the Volksbanken Raiffeisenbanken support that would enable them to provide customers with even better and clearer advice. The objective of our initiative was therefore to simplify the range of structured securities products,” explains Oliver Saake, Head of Product Management for Structured Products at
Within the framework of the initiative,
“We scored very well in a customer survey carried out in December 2016. We are trying to integrate new ideas from the survey immediately.”
Transparency and clear structures for advisors
The product range is now clearly structured and easy to understand. Product names are intuitive and can be quickly identified by advisors in the Volksbanken Raiffeisenbanken. The range focuses on product structures based on the EURO STOXX 50 index, complemented by products derived from traditional individual equities such as Daimler or BASF. The products are offered with or without a subscription period, although the subscription periods are focused on just two different periods.
Customer feedback is particularly important in a transition process of this nature. “We scored very well in a customer survey carried out in December 2016. We are trying to integrate new ideas from the survey immediately. For example, we are working together to continuously add improvements using new media such as flip books and explanatory videos,” says Oliver Saake.