Creating a different bank, Marlon van der Goes (Zuno), LOTE 2011

CREATINGA DIFFERENT BANK Marlon van der GoesChief Marketing OfficerZUNO BANK

Living on the Edge19 April 2011Bratislava

ZUNO.SK

Is there a space for another bank?

CREATING A DIFFERENT BANK | 10 April 2023 | BRATISLAVA

2

ZUNO.SK

36%33%

25%23%

19%

Yes, there is.

3

Usage of internet banking (EOY 2010)

EU SK PL CZ HUWhen comparing to 2009, Slovakia was ranked 2nd among EU countries (after

France) with the most increasing percentage of internet banking usage

Development (Slovakia)

2004

CEE region has a great growth potential, thus being target market

for ZUNO

2009

2010

Source: Eurostat 2010


European TOP 3

NO NL FI

83%

77% 76%

ZUNO.SK

Reasons for selecting a direct bank (current vs. potential users in Hungary, Poland, Slovakia and Slovenia)

4Source: The Brand Union 2009

current users

prospectiveusers

0% 20% 40% 60% 80%

24/7 telephone hotline

Easy to use internet banking

Positive assessment in the media

Recommended friend/relative

I find the info I need on website

Not restricted to opening hours

Security of transactions is ensured

Guaranteed higher deposit protection

Better fees than banks with branches

It’s a modern/dynamic bank

Consultancy is offered as wellTransparent/fair with customer/easy to

understandProducts and services meet needs/tailored

Provides fast/comfortable service

Better rates than banks with branches

I would never cooperate with direct banks


ZUNO.SK

Additional reasons of Raiffeisen Bank International

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1. Collect primary deposits at low cost

2. Capture/retain emerging self-driven, technology savvy customer segment with new value proposition (self-service and price sensitive)

3. Seize profitable business opportunity (long-term growth)

4. It is better to have in-house competition


ZUNO.SK

The model already exists in many markets

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Branch based banking Direct bank


ZUNO.SK

Slovak market analysis

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1.3 miladvanced internet users

(minimum)

Source: Eurostat EOY 2009

Population (all aged 16-74)

Internet users(use internet at least once a week)

Internet banking users(used internet banking in the last 3 months)

Online shoppers(ordered over internet in the last 3 months)


ZUNO.SK

Target group selection process...

8Source: MML-TGI SR 2009

According to factor analysis (Slovakia), Group 3 is:

able to save

rely on money

safety above all

they care about money

700 ths people,

333 ths use internet at

least once a week (48%)

567 ths people,



751 ths people,

406 ths use internet at least once a week (54%)

743 ths people,



1015 ths people,



PRIMARY TARGET


ZUNO.SK

… and outcome:

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They: are able to saveare not afraid and not easy going regarding money = money consciousnessdo rely on moneyhave safety above all

Size 406.000Gender slightly more males (55% of TG vs. 49% in population)

Age 20-39 (53% of TG vs. 39% in population)Education highly educated (70% of TG high school with GCE or university

vs. 42% in population)Global socio-

economic levelslevel 1+2 (73% of TG vs. 30% in population)

Slovak socio-economic

classification

ABC1 (51% of TG vs. 39% in population)

Activity and racionality

very active with emphasis on emotions

Bank SLSP (42% of TG vs. 39% in population), VÚB (31% of TG vs. 24% in population), Tatra (21% of TG vs. 12% in population)

Lifestyle Kristína & Róbert (23% of TG vs. 11% in population) – the successful

Kata & Peťo (23% of TG vs. 11% in population) – young, active couple

Vlado (14% of TG vs. 12% in population) – handy man Jana (12% of TG vs. 11% in population) – a perfect housewife


ZUNO.SK

Customer preferences

10Source: The Brand Union 2009

Functional attributes

1

Everything is clear and easy to understand and use They use technology to make banking better and simpler for their

customers Money-saving ideas whether you’re a businessman or a mother

looking after your familyBenefit statements

2

This is the bank that helps you make the best decisions about your finances

Where managing money puts you in control of your life

Attitudinal statements

3

Banking online can be different The bank that doesn’t look or feel like a bank This bank listened and acted on what people want from their banks This bank encourages dialogue In touch with customer needs Less is more This bank is focused on function and clarity, not pretending to be

anything else

Outcomes from qualitative research


ZUNO.SK

So we created a concept…

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VIDEO about “Less bank, more life”


ZUNO.SK

… with an inspiring brand model:

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Bright

ClearWarm

We’re an intelligent bank. Smart and full of ideas, we use our unconventional wisdom to

solve problems creatively. Our customers can expect us to provide clever and better ways of

banking.

We’re always there for our customers. We fulfill their needs by making banking

friendly, respectful and accessible. This is human banking - always within

reach.

We’re straightforward and know how to take the

complexity out of banking. We are user-friendly and

speak our customer's language. We make banking

simpler and clearer.


ZUNO.SK

… when it comes to tools we use:

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Urchin Secure and very exact way of web analytics used for tracking

Remarketing Adaptation of messages communicated to audience

A/B testing Does “Become a client” work better than “Try ZUNO”?

Social listening Has someone written something about ZUNO?

Creative pretesting

Using neuroscience, we pretest creatives and website designs before they go out

We use automated image recognition in combination of predictive models

We know where the attention will be drawn in first seconds of perception of our banners


ZUNO.SK

Poland

Czech Rep.

AustriaHungary

Slovakia

SloveniaRomani

a

Warsaw

Katowice

Prague

Vienna Bratislava

Ljubljana

Budapest

Bucharest

Nitra

call center PL

ZUNO HeadOffice

card processing

data centrecore system

call center SK & CZ & HU

SWIFT payments

… when it comes to our internal culture:

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ZUNO is a truly international and multicultural company

More than ten nationalities are working for us


ZUNO.SK

According to us banks do not have to be boring

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ZUNO.SK

What are main benefits?

16Source: GfK Slovakia survey, March 2011

53

36

24

21

12

11

4

8

5

Reasons for accepting pure internet bank

Comfort, don’t have to leave home

Vey low fees / no fees

It saves time / it’s fast

I don’t have to go to bank, stand in waiting line

Time flexibility

It’s simple

Advantageous interest rate

Other

Don’t know


ZUNO.SK

And people have started to realise that:

Source: GfK Slovakia survey, March 2011

Absolutelynot acceptable

More unacceptable than acceptable. I would prefer to have a brick and mortar bank

5.2

11.2

46.2

32.0

5.4

It is acceptable for me and I am already thinking of becoming a client of an internet bank

I am the client of internet bank already, but I do also have other banks

I am the client of internet bank already and that is my main bank

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ZUNO.SK

Why should people believe ZUNO?

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We are open all hours

We have

intelligent internet technology

We offer

finances at your fingertips

We feel user friendly

We are easy to understand

We use simple, yet human language


THAN

KYO

U

Creating a different bank, Marlon van der Goes (Zuno), LOTE 2011

Economy & Finance

Transcript of Creating a different bank, Marlon van der Goes (Zuno), LOTE 2011