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Our approach and progress

2009 goals Status Achievements
Consumer Banking aims to sustain its Loyal and Positive Index above 80 per cent. We reaffirm our commitment to return to above 80 per cent in 2009. Completed We surpassed our target with 83.3 per cent of customers giving us a favorable score in the Loyal and Positive Index.
Embed our recent re-organisation of the Consumer Banking governance structure to achieve greater ownership of specific customer segments. Completed There is now increased clarity around the segmentation of customers and governance of product and service development based on clearly identified customer needs. In 2009 uniform global governance of customer related priorities was also introduced through our Country Voice of the Customer Forums.
Consolidate Consumer Banking's contact centres into global hubs to achieve increased customer satisfaction via sales and service consistency improvements. This is a longer-term ongoing project. On going This is a longer-term project. Significant progress is being made to consolidate the contact centres into global hubs.

NPS is now the basis for measuring the success of our Customer Charter and our Customer Centric strategy.

There has been a significant increase in NPS across key markets this year. Our global NPS scores from 2008 levels, which is attributed to better service, process improvements and simpler marketing.
Complete standardisation of customer documentation and account opening processes for the remainder of the global product suite. On going The initial stage of a project to simplify the processes required to open our customer accounts has been completed.

A longer term TCF objective is to improve the consistency, user friendliness and transparency of certain customer facing documentation. A dedicated project team has been established to assist countries to migrate existing customers onto new documents where needed and monitoring changes to their contents and look and feel.
Standardise the balanced scorecard approach for remuneration to ensure customer satisfaction is included as a performance measurement score with segment specific differences across all sales staff. Completed We have rolled out a consistent framework of scorecards and incentives that encourage our front-line staff to clearly focus on addressing customer needs. This represents a significant step towards a model which rewards balanced performance, including service quality and compliance metrics.

We have put in place a deferral element to ensure our staff focus on customer experience and longer term sustainable performance.
Continue engagement with regulators in our markets on increasing the use of credit bureaus to ensure appropriate credit controls. On going We continue to engage with our regulators around the world on the value of using credit bureaus, both to our customers and to financial institutions.

2010 priorities

  • Loyal and Positive Index
  • Continue to sustain our Loyal and Positive score above 80 per cent.
  • CB Complaints Handling: We aim to reduce our turnaround times for complaints to fewer than 48 hours, reduce the number of inappropriate sales complaints and improve overall satisfaction with our complaint resolution process.
  • Customer Charter: Embed the Customer Charter throughout Consumer Bank ing and progress delivery of the Charter's three core undertakings around:
    • Customer Service
    • Solutions
    • Relationship
  • NPS: NPS tracking is key to our Customer Charter and will be a deliverable for every Consumer Banking employee. We will continue to build on delivering this strong momentum in 2010, targeting a 15 per cent improvement in NPS across our key countries.
  • Responding to Regulatory Change: We will continue to work with regulators and monitor the impact of new regulations as they come into force in the markets in which we operate, to ensure safeguards are in place to protect consumers from inappropriate sales practices. We will aim to respond rapidly as in 2009 to crisis events should they arise.

Responsible selling and marketing is central to our culture and values. Both Consumer Banking and Wholesale Banking have a customer and client focus at the centre of their strategy.

Consumer Banking customer strategy

Our customers are at the heart of everything we do. Over the past year we have worked hard to transform our offering to better address customer needs while making sure that, at all times, we treat our customers fairly. We have launched several initiatives to achieve this. These include:

  • increasing clarity around segmentation of customers and developing products and services based on clearly identified customer needs
  • introducing Net Promoter Scores (NPS) throughout the organisation, and tracking the results
  • taking NPS into account when we assess our employees' remuneration
  • focusing on resolving customer complaints in the shortest possible time (First Time Resolution)
  • analysing complaints metrics to determine the root causes of our customers' complaints and intervening quickly to resolve problems
  • simplifying the processes required to open our customer accounts. A member of our Management Committee has responsibility for each initiative, all of which are personally championed by our Chief Executive Officer of Consumer Banking Steve Bertamini

Our Customer Charter

Our Customer Charter is our Consumer Bank's promise to our customers that they will always be treated fairly and will receive excellent service, appropriate financing solutions and an enduring relationship. It may be what they already expect of us, but this charter offers customers our assurance that their needs come first.

The Charter is built around three core undertakings, namely:

1. Service: We aspire to be 'The World's Best Consumer Bank in Each of Our Chosen Markets and Segments'. To do so, we will provide friendly, fast and accurate service to our customers and constantly measure our achievements against their expectations and the performance of our competitors. Service is the critical factor in building trust and long-term relationships with our customers.

2. Solutions: We will work hard to understand our customers' financial needs, especially around key milestones such as buying a home. We will develop appropriate solutions to meet or even anticipate their needs to help create sustainable long-term relationships. We will also ensure all advice is suitable for the customer's circumstances.

3. Relationship: We must recognise and reward customers for additional business and allowing us to serve them. We will achieve this through better service quality, improved solutions tailored to their needs, relationship management and our new global pan-bank Rewards Programme. This points-based incentive scheme takes into account all products that our customers have with Standard Chartered.

Our goal is to be the Bank you recommend to friends and colleagues. We don't just want customers to be satisfied. We want them to be so delighted with their experience that they recommend us to their friends and colleagues. Customers who are prepared to recommend us are also those most likely to use more of our banking services. We measure customer satisfaction through NPS, which is explained in greater detail in Voice of customer.

Wholesale Banking approach

Our clients may have a more sophisticated level of understanding in Wholesale Banking but it is just as important that we treat them fairly and ensure that they are sold appropriate products for their needs. We spend a great deal of time training our employees to make them aware of the features and mechanics of the products that they sell and any potential risks.

We have focused on deepening core bank relationships with clients, enhancing client coverage and improving our product capability in order that we may offer them a solutions based approach.

While we are keen to grow market share, we know that building on our relationships with key clients is critical to a sustainable business. We have been proactive in monitoring their financial health during this difficult economic environment, and helped them restructure where necessary to avoid loss situations.


The marks “Net Promoter”, “NPS”, and “Net Promoter Score” as referred to in the reports are trademarks of Satmetrix Systems, Inc., Bain & Company, and Fred Reichheld.

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Annual Report and Accounts 2009