Business & Consumer Banking - WestpacBusiness & Consumer Banking Introducing the BCB leadership team...
Transcript of Business & Consumer Banking - WestpacBusiness & Consumer Banking Introducing the BCB leadership team...
Business & Consumer Banking
Introducing the BCB leadership team
August 2005
BCB Leadership Team introduction – August 2005 2
Working Capital & Trade Solutions Alexandra HolcombWorking Capital & Trade Solutions
Westpac WayKen HodgsonConsumer Financial Services
Mortgage BrokersJames GallowayFinancial Services Partnerships
PinnaclePeter HanlonBusiness Financial Services
OverviewMike PrattGroup Executive, BCB
TopicSpeaker
Today’s agenda
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The evolving operating environment
• Increased reporting/ compliance requirements
• International ‘harmonisation’challenges
• Renewed focus on customer oriented strategies
• Global players expanding
• Specialist, third party and non-financial players
• Price increasingly being used to attract business
• Competition for talent
• Ageing population
• Increasing demand for investment advice
• Customers becoming more price sensitive
• Greater awareness of choice
• Aust GDP growth ahead of OECD growth
• Credit growth to slow but continue to exceed nominal GDP growth
• Environment remains broadly favourable
RegulatoryCompetitorsCustomersEconomic
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1 71 7 M a rk e t U p d a te 2 0 0 3
C u s to m e r E xp e r ie n c e
E le m e n ts o f a g re a t re ta il b a n k in g fra n c h is e
P ro d u c ts a n d s o lu tio n s
C u s to m e r e x p e r ie n c e / re la t io n s h ip
m a n a g e m e n t
M u lt i-c h a n n e l d is tr ib u t io n
R is k m a n a g e m e n t
P e o p le
2003
Elements of a great retail banking franchise
2004
Building sustainable performance
Evolution of our business structure
2005
Market Update July 2005 – Mike Pratt31
Delivering profitable growth
BCB Mission
To be the #1 service organisation in financial services
Consumer Strategic Focus Business Strategic Focus
Program 1 Program 2 Program 3 Program 1 Program 2 Program 3
People & Culture Development for the long-term
Our investment programme – Reach, Pinnacle and Service Online
Teamwork Integrity Performance
Customer Loyalty
Internal Service Quality
Employee Productivity
Sales & Service Disciplines (Westpac Way)
Underpinned by
Delivering profitable growth
Aligned to 5 key elements of banking
Distribution focus and service orientated
Customer Segment focus
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Our structure supports our strategy
BCB Mission
To be the #1 service organisation in financial services
Consumer Strategic Focus Business Strategic Focus
Program 1 Program 2 Program 3 Program 1 Program 2 Program 3
People & Culture Development for the long-term
Our investment programme – Reach, Pinnacle and Service Online
Teamwork Integrity Performance
Customer Loyalty
Internal Service Quality
Employee Productivity
Sales & Service Disciplines (Westpac Way)
Underpinned by
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BCB Executive Team
Customer Facing
Business Units
Business Support
Units
BCB
Consumer Financial Services
Ken Hodgson
Business Financial Services
Peter Hanlon
Working Capital & Trade Solutions
Alexandra Holcomb
Customer ServicingLaz Cotsios
Financial Services Partnerships
James Galloway
FinanceDavid Lees
People & PerformanceAmanda Revis
RiskFiona Larnach
Product & MarketingTim Harrington
ITPatrick Eldridge
Business Process Re-engineeringCalvin O’Brien
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The Westpac Way
• Westpac Way is a comprehensive sales management program, that:
• Achieves sales through service
• Is a consistent and disciplined approach to sales management
• Enhances and integrates existing practices
• Is an ongoing commitment from leadership and management
ExecutivesQuarterly Sales StrategyMonthly Sales BoardWeekly Sales Meeting
Regional MangersMonthly Sales BoardWeekly Sales meetingWeekly Coaching
Sales ManagersWeekly Sales meetingWeekly CoachingWeekly Team meeting
Bankers
Weekly Sales meetingWeekly CoachingWeekly Team meeting
ExecutivesQuarterly Sales StrategyMonthly Sales BoardWeekly Sales Meeting
ExecutivesQuarterly Sales StrategyMonthly Sales BoardWeekly Sales Meeting
Regional MangersMonthly Sales BoardWeekly Sales meetingWeekly Coaching
Regional MangersMonthly Sales BoardWeekly Sales meetingWeekly Coaching
Sales ManagersWeekly Sales meetingWeekly CoachingWeekly Team meeting
Sales ManagersWeekly Sales meetingWeekly CoachingWeekly Team meeting
Bankers
Weekly Sales meetingWeekly CoachingWeekly Team meeting
Bankers
Weekly Sales meetingWeekly CoachingWeekly Team meeting
For example: Home Finance ManagersMeasurements• Customer contacts• Interviews• Conversions• Pipeline management• Settlements
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Reach – knowing our customers better
Integration with Pinnacle
– continuous conversation for fulfilment
• Referrals and service requests
• Sales force management, measurement
• Customer future needs and follow
up
• Lead actioning
Customerexperience
Improvements
Revenuegrowth
Costreduction
Sales
management capability
FulfilmentSalesServiceTargetKnow
• Integrated CRM architecture links customer data
sources
• Continuous conversation –can see current
position of customer across
all channels
• Integrated campaign management
• Westpac Leads generation
BenefitsBenefits
Integration with Pinnacle
– continuous conversation for fulfilment
• Referrals and service requests
• Sales force management, measurement
• Customer future needs and follow up
• Lead actioning
Customerexperience
Improvements
Revenuegrowth
Costreduction
Sales management
capability
FulfilmentSalesServiceTargetKnow FulfilmentSalesServiceTargetKnow
• Integrated CRM architecture links customer data sources
• Continuous conversation –can see current position of customer across all channels
• Integrated campaign management
• Westpac Leads generation
BenefitsBenefits
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The Broker Channel is a key focus
Improved Broker Model
• Financial Services Partnerships – a new division that supports and recognises the importance of the broker channel
• Business model better matches the service provided to brokers with their performance and potential.
• Active two way dialogue with brokers assists to enhance Westpac’s offer – both service and product
• Feedback and results to date very positive
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Mobile Home Loan Experts
• Separately managed proactive Home Loan sales force:
- Self sourced leads
- No fixed branch location
- Westpac (VW) vehicle
- Enabling technology (Reach, Mobile Application Software)
• Placement of Mobile Home Loan experts in high opportunity areas to provide sales coverage without the traditional infrastructure
• Potential for at least 60 to be deployed nationally
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Our Business Banking strategy is unchanged
• Business model continues to go well
• Opportunities to leverage off Business Lender and Business Bank of the Year
Reach (client relationship
management)
Pinnacle (credit
reengineering)
+
Segmentation/Technology Business Banking Distribution
+
Product & Risk Management
Industry Solutions
Recruitment, Training and skill development
Cu
sto
mer
Exp
erie
nce
+
People
Financial Centre
Business Direct
Senior RM
Middle Markets &
Priority
SME
Wealth
CM
RSM
Key:RM - Relationship ManagerRSM – Relationship Sales ManagerCM – Customer Manager (service)
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Pinnacle - enhancing internal/external service quality
Disbursement
•Automated Document Preparation
•Automated workflow management
•Single view of customer
• Product information repository
•Electronic security register
•Re-use of customer information
•Automatic submission
•Automated decisions
•Automated bureau checks
•Full credit data repository and analysis
BenefitsBenefits
DocumentationCredit DecisionSales
•Automated workflow management of settlement activities
Disbursement
•Automated Document Preparation
•Automated workflow management
•Single view of customer
• Product information repository
•Electronic security register
•Re-use of customer information
•Automatic submission
•Automated decisions
•Automated bureau checks
•Full credit data repository and analysis
BenefitsBenefits
DocumentationCredit DecisionSales
•Automated workflow management of settlement activities
Disbursement
•Automated Document Preparation
•Automated workflow management
•Single view of customer
• Product information repository
•Electronic security register
•Re-use of customer information
•Automatic submission
•Automated decisions
•Automated bureau checks
•Full credit data repository and analysis
BenefitsBenefits
DocumentationCredit DecisionSales
•Automated workflow management of settlement activities
•Automated Document Preparation
•Automated workflow management
•Single view of customer
• Product information repository
•Electronic security register
•Re-use of customer information
•Automatic submission
•Automated decisions
•Automated bureau checks
•Full credit data repository and analysis
BenefitsBenefits
DocumentationCredit DecisionSales
•Automated workflow management of settlement activities
Customerexperience
Improvements
Revenuegrowth
Costreduction
Sales management
capability
Customerexperience
Improvements
Revenuegrowth
Operational
Efficiency
Sales management
capability
Reach
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Working Capital & Trade Solutions
Why create this team
• Transactional Banking is critical to our customer focused strategy in both BCB & WIB
• Value is created by offering integrated transaction solutions, supported by information to assist customers in the management of their cash flow
• Specialists supporting generalist sales focussed on business banking growth
Core strengths
• Lead relationship# with ~40% of Australia/NZ large corporates
• Voted best Trade Finance Bank in 2004
• Innovative transactional banking solutions, eg, Invoice Finance and Present and Pay (PnP)
# Large Corporate & Transactional Banking Survey, Peter Lee Associates – 2004 & 2005
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Working Capital & Trade Solutions
Opportunities
• Circa 14%^ share of Australian merchant acquiring market
• 23% share of documentary trade transactions*, weighted heavily to imports
• Significantly growing specialised sales force in Middle Market and SME segment
• Leveraging Corporate offering and capabilities into Middle Markets, eg, Invoice Finance
^ Based on East & Partners data* Large Corporate & Transactional Banking Survey, Peter Lee Associates - September 2004
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My priorities for 2005/2006
• Embed Westpac Way and continue to implement systems to enhance sales performance
• Full implementation of major programs of work
• Focus on customer segmentation delivering growth in share of wallet and customer satisfaction
• Leverage cross business unit opportunities
• Continue to focus on leadership and culture development
Business & Consumer Banking
Introducing the BCB leadership team
August 2005
BCB Leadership Team introduction – August 2005 17
Disclaimer
The material contained in this presentation is intended to be general background information on Westpac Banking Corporation and its activities.
The information is supplied in summary form and is therefore not necessarily complete. Also, it is not intended that it be relied upon as advice to investors or potential investors, who should consider seeking independent professional advice depending upon their specific investment objectives, financial situation or particular needs.