Responsible selling and marketing

Data and trends

Our goals for 2008	Status	What we have done
Consumer Banking aims to sustain its Loyal and Positive Index above 80 per cent	Ongoing	In 2008, we achieved a 76 per cent favourable score in the Loyal and Positive index. We reaffirm our commitment to return to above 80 per cent in 2009
Continuously improve processes to reduce complaint rates, and to re-engineer solutions into the underlying processes	Ongoing	Market survey data methods and customer feedback has been analysed by the new Voice of Customer Committee to ensure we make best use of this intelligence to understand the main issues that concern our customers Enhanced governance approach to increase the focus on product controls, management information and process improvement Completion of the first stage of standardising global customer documentation and simplifying the account opening process for key transaction and lending products Revision of balanced scorecards for remuneration to ensure customer satisfaction is included as a performance measurement score in specific Consumer Banking areas
Strengthen financial literacy programmes	Ongoing	CB Singapore engages in consumer education programmes to increase customers’ financial literacy. India’s Banking Association is driving financial literacy programmes and we are a member bank on the Customer Service Committee. The Bank has created a financial counselling website in India with accessible information on financial products for customers

Our priorities in 2009

• Global CB Voice of Customer Committee held monthly to discuss key service issues and root causes to implement the required service improvements
• Country Voice of Customer forums set up to identify the root cause of specific local issues and implement service improvement plans for the year, which are compiled using Voice of Customer data
• Embed our recent reorganisation of the Consumer Banking governance structure to achieve greater ownership of specific customer segments
• 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
• Complete standardisation of customer documentation and account opening processes for the remainder of the global product suite
• 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
• Continue engagement with regulators in our markets on increasing the use of credit bureaus to ensure appropriate credit controls

Data

Wholesale Banking

Number of complaints per 1,000 customers per month: 10.3

Complaints resolution time: average 76 per cent within two days