In Europe, 64% of banks and 67% of infrastructure providers believe interpretation at country level is an issue. The Austrian, Belgian, Swedish and Swiss all say there is no consistency of interpretation.
Dallas, Texas (PRWEB) September 14, 2012
These reports focus on Credit Card Retention Strategies, PR and Branding in Retail Financial Services and European Payments Planning Review System.
Search for innovative card products has been a major focus in the past decade. However, the importance of customer retention for credit card issuers has grown in the wake of the global economic slowdown. The switch towards debit and cash spending in mature markets, the emergence of a range of new payment channels, increase in legislation and the continuing trend for customers to reduce consumption all present significant obstacles to the credit card industry.
- The report illustrates retention strategies for acquisition, portfolio management and anti-attrition segments of the credit card life cycle
- It includes examples of best practice programmes, strategies and channels that have been used to support each phase of the credit life cycle with further analysis of the strategies that worked, the strategies that didn't, and why
- It assesses and recommends which data tools you can use in order to improve retention
- It demonstrates how marketing, customer service and risk management can be better aligned to work together more effectively to enhance retention
- Credit card business normally provides a return of three to four times the cost of equity in markets like the UK and the US.
- Though the profitability of the US credit card industry declined a little during the recession, profitability started showing signs of recovery to pre-recession levels in 2012.
- Credit and debit cards are still used for four out of five payments online, but that share is steadily declining.
- Successful retention strategies encompass an organizational vision including an agreed set of goals to which all components of the credit card organization agree including, profit, and other key metrics.
A strong brand can drive a business to success and can even become its most valuable asset. Building a successful brand requires, engaging and establishing an emotional connection to achieve advocacy. While the design and creativity of the brand is important, the brand is more about the total individuality or distinctiveness of the firm. Reputation is the key, and is formed in consumer’s mind based on experiences and the description of the company by others. Brand building and promotion are linked up with the people who work for the firm and effectively embody the brand. Long-term commitment is required to serve the unbanked market effectively. Time must be devoted to understand the characteristics, diversity and the financial services needs of the unbanked, and a mutually beneficial banking relationship, based on trust, has to be established.
- Gauge the current market status of PR and Branding in Retail Financial Services
- Identify the trends and innovations propelling the growth of brand value in banks
- Gain insight into technology and infrastructure supporting electronic transactions
- Scan the trends in developed markets and the opportunities in unbanked areas
- Learn from the major players and their product portfolios
- Analyse the overall market potential for emerging bankers
- Brand name plays an important role in driving the business.
- Importance of designing female friendly marketing strategies.
- Marketing among the unbanked requires specific attention.
- Affluent customers enjoy the major attention.
3. European Payments Planning Review
The survey by the Financial Services Club on Payment Services Directive (PSD) and the Single Euro Payments Area (SEPA) gave a greater insight into the single payment system in the European region. Overall, 64% of banks and 67% of infrastructure providers believe interpretation at country level is an issue. The Austrian, Belgian, Swedish and Swiss all say there is no consistency of interpretation, and the Spanish and Swedish all state that the implementation is inconsistent.
- To understand the opinions of different banks at a national level on PSD and SEPA
- To understand the major challenges faced by the trading system with the current single payment systems
- To analyze the impact of government practices on the European payment planning system
- Understand the various practices followed by the various payment institutions
- SEPA and PSD implementations are replacing the current payment systems.
- Most of the respondents provide positive opinion towards the European payment planning system.
- Various payment institutions have shared their views and also discussed the future challenges of the single payment system.
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