Published: August 01, 2010
In the recent Leader Awards by Greenwich Associates, an independent gauge of banks’ market penetration and the quality of their services, Deutsche Bank received awards in almost every category. In Asia, Deutsche Bank was placed top in the Quality Awards for Cash Management, and in Europe, the bank also received the highest accolade for quality in both Cash Management and Debt Capital Markets. Marilyn Spearing, Global Head of Trade Finance & Cash Management – Corporates, discusses her reaction to the Awards and outlines some of the factors that continue to contribute to Deutsche Bank’s success.
We were particularly pleased to be recognised for our commitment to excellence in the services we provide to our customers. In an environment where many banks have been forced to reduce investments in client solutions and services, we have continued to develop and innovate. As it can often take some timengoing commitment in this area. In our view, there are various elements that contribute to our best-in-class solutions and service quality.
Deutche Bank has a strong clearing business, with a strong technology base with high resilence and critical volume.
Firstly, Deutsche Bank has a strong clearing business, with a strong technology base with high resilience and critical volume. Having established this framework, we are then in a position to flex solutions according to individual customer needs, whilst still leveraging this robust framework.
Secondly, we are not distracted by trying to serve the needs of every type of client. We recognise the strengths of our solutions and expertise. Consequently we focus our attention on organisations where we know we can deliver the greatest value, specifically large, complex corporates, whether domestic or multinational in their activities. In addition, we have a strong mid-market presence in our core European markets of Germany, Italy, Spain and the Netherlands, with solutions adapted to meet the needs of these customers. We have an in-country service delivery model, which is aligned at a global level, so we ensure that our clients benefit from a consistent, high quality experience across the countries in which we work with them, whilst reflecting the local business culture, regulatory framework and language requirements.
Thirdly, a high quality approach needs to extend from the first engagement with a potential customer through many years of a relationship. The top scores that Deutsche Bank has received for sales effectiveness reflect our commitment to ensuring that bank representatives have detailed knowledge of the business, follow up promptly and maintain personal contact with the customer.
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In the future, an important development will be how the financial services community can fully leverage smartphone technology to provide a rich and functional experience for our clients.
We recognise that a perception of high quality can disappear very quickly unless the bank continues to remain close to customer needs, and place its investments according to customer priorities. This includes looking at a customer relationship from end to end, identifying where greater efficiency or innovation could benefit the business and ultimately our clients. We conduct various forms of customer satisfaction reviews within Deutsche Bank to assess on a continuous basis where our efforts are proving successful and where we may need to refocus. For example, we are in our third year of our customer satisfaction survey which has helped us better understand where our services, technology, integration or financial solutions could be improved, and respond accordingly.
In addition to receiving top positions in the Greenwich Quality Leader Awards, Deutsche Bank’s position in the Market Penetration Awards was also very encouraging in both Asia and Europe. These regions have very diverse needs and therefore our approach has been quite different in the past. In Asia, we have now entered the top tier of banking providers, whereas in the past this position was reserved for banks with extensive branch networks. While there will be stronger competition from previously domestic banks in countries such as China in the future, we will focus on consolidating our position and maintaining a strong in-country presence across Asia. We have not restricted our activities to multinational corporates, but have extended our services to domestic companies too, such as providing in-country clearing in China.
Looking ahead, customer demands will continue to evolve, and Deutsche Bank remains committed to anticipating and responding to these changing needs. For example, mobile payments will become increasingly important. We have been a pioneer in this area, with clients already using mobile technology for payments authorisation. Such has been the demand for this capability that we are accelerating our rollout programme to customers globally during 2010. In India, for instance, we use mobile technology to facilitate and accelerate the supply chain: for example, a driver can receive a text to confirm payment receipt, so that goods can be left with the customer. In the future, an important development will be how the financial services community can fully leverage smartphone technology to provide a rich and functional experience for our clients.
In addition, in terms of leadership, it is important to note that we are continuously adding value to our clients by expanding our presence into new countries, such as recent investments in Abu Dhabi and Ukraine, and ongoing expansion in central and eastern Europe, Russia, Brazil and across Asia.
The fact that our clients have recognised our efforts in terms of delivery quality and market penetration is very pleasing and we are extremely grateful for their votes. At Deutsche Bank, we are committed to taking our solutions, service and reach to the next level so that we can better serve our clients’ needs.
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