finance 45 A quiet revolution in local banking
Across Great Britain, and now in the communities around Henley-on-Thames and Abingdon, there is a quiet revolution going on in the world of banking. Handelsbanken is attracting more and more people with its local, personal touch
“Handelsbanken may not be the first name that springs to mind when you think of banking,” says David Cook, the branch manager of Handelsbanken Abingdon, “but when people get to know us and how differently we operate, many tell me that they’re pleasantly surprised and that they’ve at last found a real alternative.”
A local, personal relationship
Handelsbanken focuses on local, relationship banking. The account manager gets to know every customer individually to understand their needs and works with colleagues to provide just what they require, whether it is simple transactional banking or working with businesses to provide asset finance, treasury services or long- term lending. In an echo of traditional banking customers have their own dedicated account manager – and even their direct phone line – but in tandem with the conveniences of modern banking, such as access to online banking and a comprehensive range of products to support businesses and individuals.
There is real evidence of this when you step inside the Abingdon and Henley branches. No attention- grabbing posters showing promotions or bonus rates, just a warm welcome from the staff before being led to a comfortable meeting room with a hot coffee waiting, where one-to-one conversations are held in private and peaceful surroundings. When it comes to actual business decisions, most are taken at the branch by the experienced local team who know their customers and the local Thames Valley market best.
Abingdon and Henley are two of Handelsbanken’s newest branches, their teams of experienced bankers serving customers across Berkshire and South Oxfordshire, with Abingdon working with customers from Witney to Watlington and Henley serving the area from Marlow to Maidenhead. “We call this local focus the ‘Church Spire’ principle,
since by looking after those we can see from the top of the local church spire, we are able to provide bespoke, personal and knowledgeable service to every customer,” adds Cook. “We are not driven by volumes but by building long-term relationships. We make our decisions quickly in the branch, and, if a customer needs us, we’re only a phone call away.”
A new type of bank for the Thames Valley
Handelsbanken’s new Abingdon and Henley branches both have dedicated teams of four and just like the 190 branches already established in Great Britain, both branches operate as their own small business, while being part of one of the world’s strongest banks1. Every staff member shares the same principles that put the customer firmly at the heart of all that they do. In a change from the norm, there are no staff targets, no bonuses and no incentives to sell products; instead each decision is based purely on what is right for the customer.
Sarah Dean, branch manager of Henley-on-Thames, says: “We are committed to building lasting relationships with customers, by investing time to really understand a customer’s immediate requirements and also their longer term goals and ambitions. The customer is at the centre of our business; it’s all about meeting and exceeding their expectations.”
Dean continues: “Our customers seldom choose their banking provider based on short-term rates. It’s about our service levels, our ability to assess a customer’s requirements and then reach a decision speedily using our own judgement, rather than an electronically-generated decision in a head office. We then personally manage the whole process to final delivery, always applying the human touch.”
Satisfaction generates success
The success of this different approach is borne out by the figures. An
THE BUSINESS MAGAZINE – THAMES VALLEY – MAY 2015
The Abingdon team
The Henley-on-Thames team
independent survey of UK banks has, for the sixth year running, ranked Handelsbanken top for customer satisfaction, both for business and personal banking2. In addition, the bank’s latest annual results (2014) reveal a 56% increase in UK customer deposits with lending to businesses rising 10%. Handelsbanken puts this continuing growth down to a clear, long-term focus on customer satisfaction, prudent banking and thrift.
Dean concludes: “We’re looking forward to welcoming many more businesses and individuals to our
offices here in Abingdon and in Henley, to start a discussion on a different way of doing banking.”
Details:
Abingdon 01235-521581
www.handelsbanken.co.uk/ abingdon
Henley-on-Thames 01491-571831
www.handelsbanken.co.uk/ henleyonthames
1 Rated by Bloomberg, June 2014 2 EPSI Rating UK, 2014
Handelsbanken is the trading name of Svenska Handelsbanken AB (publ). Registered in England & Wales No. BR000589. Incorporated in Sweden with limited liability. Registered in Sweden No, 502007-7862 Head office in Stockholm. Authorised by the Swedish Financial Supervisory Authority (Finansinspektionen) and the Prudential Regulation Authority and subject to limited regulation by the Financial Conduct Authority and the Prudential Regulation Authority. Details about the extent of our authorisation and regulation by the Prudential Regulation Authority and regulation by the Financial Conduct Authority are available from us on request.
www.businessmag.co.uk
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