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“The customer takes control”
Survey Results
Belgium Focus
June 2012
The E&Y Global Consumer Banking Survey 2012
“The Customer takes Control”


►   This is Ernst & Young’s latest survey of retail banking customers around the world.


►   It builds on our previous global customer survey in 2011 and our European customer survey in 2010, and examines
    the views of more than 28,560 banking customers in 35 countries, gathered in March 2012.


►   The survey places particular emphasis on answering the following questions:
         ►   How likely are customers to change banks, and if so, why?
         ►   Is customer behavior towards their banks changing, and if so how?
         ►   How are customers using different channels, and what do they expect
             from them?
         ►   What is driving customers’ satisfaction, and what improvements do they
             want to see?
         ►   What steps can banks take to enhance customer loyalty and advocacy?




Page 2                                            Customer Survey Results
The survey tells us that customers are taking control of their
banking relationships


►   Customers are taking control
         ►   They are changing banks.
         ►   They prefer turning to sources other than their bank for financial advice and to find the best
             deals.
         ►   They want to play an active role in
             tailoring their products and services.
         ►   They want better value and improved
             service.
         ►   They want to be able to choose
             between different channels, service
             levels and costs.




Page 3                                         Customer Survey Results
Executive Summary
Customer confidence is decreasing for 2 main reasons



         Fall in confidence                  Reason 1                            Reason 2
                                  Dissatisfaction of bonus culture        Macro-economic reasons




                 +41%
                                                     +46%

                                                                                   +11%




►   Customer confidence has         ►   The main reason why           ►    Marco-economic reasons
    decreased by 41% since              confidence has decreased is        are the second cause of
    2012 reaching 72% of client         due to continued                   confidence decrease
    with no confidence in their         dissatisfaction with the
    bank                                bonus culture of banks in
                                        light of government
                                        intervention




Page 4                                   Customer Survey Results
Executive Summary
Customers are increasingly likely to use other banks...


                Attrition                         Multi-banking                   Why customers are
                                                                                   changing banks

         % of customers in Belgium          % of customers in Belgium with        Top reasons for attrition.
          planning to change bank              one vs. multiple banking          % of customers in Belgium
                                                     relationships
                                     3 or more
                                         banks
                                                                             53% High fees or charges
                  +42%
                                      2 banks
                                                                             32% Poor branch experience
                                                                             30% Poor rates on accounts
                                       1 bank                                23% Poor Financial Advisor’s
                                                                                   competencies



►   Customers are becoming             ►   Multi-banking is on the rise      ►   Sensitivity to fees and
    less loyal. The proportion of          globally. Almost 80% have             charges is the leading
    customers planning to change           one or two bank providers             driver of attrition.
    banks has increased from 7%
    to 12% since 2011.




Page 5                                      Customer Survey Results
Executive Summary
…but still turn to a bank for most product and services


                                                          ►   The majority of customers still turn to a
                                                              bank when making product choices
                                                              about product and services

                                                          ►   Customers are increasingly likely to
                                                              choose a non-banking institution for
                                                              insurance product




Page 6                          Customer Survey Results
Executive Summary
 Financial Advisors remains the main source of information but…


Customers’ increasing willingness to actively manage their banking relationships represents a major change for the
industry.

                            Advice                                                        Social Networking Interaction
     Top sources valued by customers in Belgium to                               % of customers in Belgium who use social
     keep them informed on banking products                                      networking to perform the following activities




►   Customers prefer turning to financial advisory for financial             ►   The use of social media as a source of banking
    advice and to find the best deals.                                           information is amplifying customers’ voices, giving
                                                                                 them greater power as advocates or critics
►   Comparison websites, relatively unknown five years ago,
    are now a major source of influence


 Page 7                                            Customer Survey Results
Executive Summary
    ...customer want to play an active role in tailoring their products and services...



             Tailored Offerings                 Personal Information                      Update Frequency


      % of customers who say their          % of customers willing to provide       How often customers would be
      bank adapts the products and          their bank more personal                prepared to update their
      services to meet their needs          information                             information for their bank


                                                                                    50% When circumstances change
                                                    63%                             18% Every six months
                                                    Yes
                                                                                    25% Every year
                                                                  37%
                                                                  No                7% Only at the beginning of the
                                                                                         banking relationship



►     The majority of customers         ►   Customers are embracing the         ►   Moreover, a significant proportion
      feel that products and                benefits that come from                 of customers are willing to actively
      services are only                     providing with personal                 maintain their personal
      occasionally customized to            information. 63% of customers           information with their bank.
      meet their needs. Only 14%            are willing to provide more
      of customers feel that they are       personal information in order to    ►   In return, they expect to receive
      provided with tailored                receive more personalized               tangible improvements in the
      offerings.                            service.                                suitability of products and services
                                                                                    they are offered.

    Page 8                                      Customer Survey Results
Executive Summary
...they want the flexibility to shape the relationship, contacting their bank
whenever and however they choose

                     Channel preferences

   Preferred channel for different types of products,
                services and activities

                                                                      ►    Access to account information and simple
                                                                           transactions are manly done via the internet
                                                                      ►    While customers visit their bank to get advice on
                                                                           product and services and to realize complex
                                                                           transactions




Legend




Page 9                                           Customer Survey Results
Executive Summary
Customers want better value and improved service...


 Actions that would increase customer satisfaction

 % of customers listing the answer option as high priority


                                                                     ►    Changing fees and charges structures are perceived
                                                                          as being a good way to increase customer satisfaction




Page 10                                         Customer Survey Results
Executive Summary
 ...and they want to be rewarded for their loyalty


  Loyalty program enrolment              Customers strongly believe that                   Reward schemes
                                          loyalty should be rewarded.


     % of customers in Belgium              % of customers who agree or             % of customer in Belgium who value
  enrolled in a bank loyalty/rewards      strongly agree with the following          the most from a loyalty program
               program                               statements




               +90%




► Enrolment in loyalty programs        ► Loyalty schemes are not just something    ► Customer reward most cash back on
  has jumped by 90% versus last          customers value highly, they are seen       credit/debit card and choose for price
  year                                   as a leading attraction for new             reductions as second and third
                                         customers. Customers across all             preference
                                         countries identify tangible rewards for
                                         loyalty as a leading factor that would
                                         persuade them to change their bank.



 Page 11                                      Customer Survey Results
Customer Confidence




Page 12           Customer Survey Results
Customer confidence
Change over the last year


          How has your confidence in the banking industry changed over the past 12 months?




                                                     2011  2012




Page 13                                Customer Survey Results
Customer confidence
Reason why it has decreased


          Your confidence has decreased, please specify the reason by ticking all that apply.




                                            2011  2012




Page 14                                Customer Survey Results
Customer Behaviour




Page 15              Customer Survey Results
Customer Behaviour
Multi-banking trend


                      How many banks do you have a relationship with?




Page 16                           Customer Survey Results
Customer Behaviour
Reason for multi-banking


                     If you bank with more than one bank, why is this?




Page 17                           Customer Survey Results
Customer Behaviour
Use of Social networking sites


            Do you use social networking sites in relation to your banking activities to:




Page 18                               Customer Survey Results
Customer Behaviour
Source of information


  What sources do you value to keep yourself informed on banking products when considering a new product, a
replacement product or a potential switch of your main banking provider? (High importance + Medium importance)




Page 19                                   Customer Survey Results
Customer Behaviour
Preferred method of interaction


What is your preferred method of dealing with your bank for different types of products, services and activities?




Page 20                                     Customer Survey Results
Customer Behaviour
Paying for banking products/services


          What are your expectations in terms of paying for banking products / services? (Mainly agree)




Page 21                                      Customer Survey Results
Customer Satisfaction
Level of satisfaction




Page 22                 Customer Survey Results
Customer Satisfaction
Bank Loyalty


               How many years have you been banking with your current main bank?




Page 23                             Customer Survey Results
Customer Satisfaction
Change of banking provider


                   Have you ever changed your main banking provider?




                                     2011  2012




Page 24                         Customer Survey Results
Customer Satisfaction
Reason for change of banking provider

               What reasons would/did make you change your banking provider?




Page 25                           Customer Survey Results
Customer Satisfaction
Degree of satisfaction


                         What is your degree of satisfaction?




Page 26                        Customer Survey Results
Customer Satisfaction
Level of personalization


           How would you rate the level of personalized attention provided by your bank?




Page 27                               Customer Survey Results
Customer Satisfaction
How to increase satisfaction




Page 28                    Customer Survey Results
How to Increase Satisfaction?
Loyalty Program Enrollment


                  Have you enrolled with a bank loyalty/rewards program?




                                       2011  2012




Page 29                           Customer Survey Results
How to Increase Satisfaction?
Loyalty program expectations


               What do you or would you value the most from a loyalty program?




Page 30                            Customer Survey Results
How to Increase Satisfaction?
Activities Improvement


     Which of the banking activities would you most like your bank to improve/make easier to increase your
                                   satisfaction with the service they provide?




                                       Distribution per continent (Top 5)




Page 31                                     Customer Survey Results
How to Increase Satisfaction?
Personal Information


Would you be willing to provide your bank with more information about yourself, and/or your family, if it helped
  your bank to recommend a more appropriate account or deliver a better service for you and your family?




Page 32                                     Customer Survey Results
How to Increase Satisfaction?
Information Update


            How often would you be prepared to update the information for your bank?




Page 33                             Customer Survey Results
How to Increase Satisfaction?
Improve Products & Services to meet requirements


 If you’re not satisfied, what are the main ways the bank can improve this aspect? (Products / services to meet
                                                  requirements )




Page 34                                     Customer Survey Results
How to Increase Satisfaction?
Improve Internet Site Experience


  If you’re not satisfied, what are the main ways the bank can improve this aspect? (Internet site experience )




Page 35                                     Customer Survey Results
How to Increase Satisfaction?
Improve Mobile Banking Services


  If you’re not satisfied, what are the main ways the bank can improve this aspect? (Mobile banking services )




Page 36                                     Customer Survey Results
How to Increase Satisfaction?
Improve Transparency of fees


    If you’re not satisfied, what are the main ways the bank can improve this aspect? (Transparency of fees )




Page 37                                     Customer Survey Results
Contact




Ernst & Young

Assurance | Tax | Transactions | Advisory


About Ernst & Young

Ernst & Young is a global leader in assurance, tax, transaction and advisory
services. Worldwide, our 152,000 people are united by our shared values and
an unwavering commitment to quality. We make a difference by helping our
people, our clients and our wider communities achieve potential.

For more information, please visit www.ey.com.

© 2012 EYGM Limited. All Rights Reserved.
Proprietary and confidential. Do not distribute without written permission.




Page 38                                                             Customer Survey Results

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Customer banking survey - Belgian focus

  • 1. “The customer takes control” Survey Results Belgium Focus June 2012
  • 2. The E&Y Global Consumer Banking Survey 2012 “The Customer takes Control” ► This is Ernst & Young’s latest survey of retail banking customers around the world. ► It builds on our previous global customer survey in 2011 and our European customer survey in 2010, and examines the views of more than 28,560 banking customers in 35 countries, gathered in March 2012. ► The survey places particular emphasis on answering the following questions: ► How likely are customers to change banks, and if so, why? ► Is customer behavior towards their banks changing, and if so how? ► How are customers using different channels, and what do they expect from them? ► What is driving customers’ satisfaction, and what improvements do they want to see? ► What steps can banks take to enhance customer loyalty and advocacy? Page 2 Customer Survey Results
  • 3. The survey tells us that customers are taking control of their banking relationships ► Customers are taking control ► They are changing banks. ► They prefer turning to sources other than their bank for financial advice and to find the best deals. ► They want to play an active role in tailoring their products and services. ► They want better value and improved service. ► They want to be able to choose between different channels, service levels and costs. Page 3 Customer Survey Results
  • 4. Executive Summary Customer confidence is decreasing for 2 main reasons Fall in confidence Reason 1 Reason 2 Dissatisfaction of bonus culture Macro-economic reasons +41% +46% +11% ► Customer confidence has ► The main reason why ► Marco-economic reasons decreased by 41% since confidence has decreased is are the second cause of 2012 reaching 72% of client due to continued confidence decrease with no confidence in their dissatisfaction with the bank bonus culture of banks in light of government intervention Page 4 Customer Survey Results
  • 5. Executive Summary Customers are increasingly likely to use other banks... Attrition Multi-banking Why customers are changing banks % of customers in Belgium % of customers in Belgium with Top reasons for attrition. planning to change bank one vs. multiple banking % of customers in Belgium relationships 3 or more banks 53% High fees or charges +42% 2 banks 32% Poor branch experience 30% Poor rates on accounts 1 bank 23% Poor Financial Advisor’s competencies ► Customers are becoming ► Multi-banking is on the rise ► Sensitivity to fees and less loyal. The proportion of globally. Almost 80% have charges is the leading customers planning to change one or two bank providers driver of attrition. banks has increased from 7% to 12% since 2011. Page 5 Customer Survey Results
  • 6. Executive Summary …but still turn to a bank for most product and services ► The majority of customers still turn to a bank when making product choices about product and services ► Customers are increasingly likely to choose a non-banking institution for insurance product Page 6 Customer Survey Results
  • 7. Executive Summary Financial Advisors remains the main source of information but… Customers’ increasing willingness to actively manage their banking relationships represents a major change for the industry. Advice Social Networking Interaction Top sources valued by customers in Belgium to % of customers in Belgium who use social keep them informed on banking products networking to perform the following activities ► Customers prefer turning to financial advisory for financial ► The use of social media as a source of banking advice and to find the best deals. information is amplifying customers’ voices, giving them greater power as advocates or critics ► Comparison websites, relatively unknown five years ago, are now a major source of influence Page 7 Customer Survey Results
  • 8. Executive Summary ...customer want to play an active role in tailoring their products and services... Tailored Offerings Personal Information Update Frequency % of customers who say their % of customers willing to provide How often customers would be bank adapts the products and their bank more personal prepared to update their services to meet their needs information information for their bank 50% When circumstances change 63% 18% Every six months Yes 25% Every year 37% No 7% Only at the beginning of the banking relationship ► The majority of customers ► Customers are embracing the ► Moreover, a significant proportion feel that products and benefits that come from of customers are willing to actively services are only providing with personal maintain their personal occasionally customized to information. 63% of customers information with their bank. meet their needs. Only 14% are willing to provide more of customers feel that they are personal information in order to ► In return, they expect to receive provided with tailored receive more personalized tangible improvements in the offerings. service. suitability of products and services they are offered. Page 8 Customer Survey Results
  • 9. Executive Summary ...they want the flexibility to shape the relationship, contacting their bank whenever and however they choose Channel preferences Preferred channel for different types of products, services and activities ► Access to account information and simple transactions are manly done via the internet ► While customers visit their bank to get advice on product and services and to realize complex transactions Legend Page 9 Customer Survey Results
  • 10. Executive Summary Customers want better value and improved service... Actions that would increase customer satisfaction % of customers listing the answer option as high priority ► Changing fees and charges structures are perceived as being a good way to increase customer satisfaction Page 10 Customer Survey Results
  • 11. Executive Summary ...and they want to be rewarded for their loyalty Loyalty program enrolment Customers strongly believe that Reward schemes loyalty should be rewarded. % of customers in Belgium % of customers who agree or % of customer in Belgium who value enrolled in a bank loyalty/rewards strongly agree with the following the most from a loyalty program program statements +90% ► Enrolment in loyalty programs ► Loyalty schemes are not just something ► Customer reward most cash back on has jumped by 90% versus last customers value highly, they are seen credit/debit card and choose for price year as a leading attraction for new reductions as second and third customers. Customers across all preference countries identify tangible rewards for loyalty as a leading factor that would persuade them to change their bank. Page 11 Customer Survey Results
  • 12. Customer Confidence Page 12 Customer Survey Results
  • 13. Customer confidence Change over the last year How has your confidence in the banking industry changed over the past 12 months? 2011  2012 Page 13 Customer Survey Results
  • 14. Customer confidence Reason why it has decreased Your confidence has decreased, please specify the reason by ticking all that apply. 2011  2012 Page 14 Customer Survey Results
  • 15. Customer Behaviour Page 15 Customer Survey Results
  • 16. Customer Behaviour Multi-banking trend How many banks do you have a relationship with? Page 16 Customer Survey Results
  • 17. Customer Behaviour Reason for multi-banking If you bank with more than one bank, why is this? Page 17 Customer Survey Results
  • 18. Customer Behaviour Use of Social networking sites Do you use social networking sites in relation to your banking activities to: Page 18 Customer Survey Results
  • 19. Customer Behaviour Source of information What sources do you value to keep yourself informed on banking products when considering a new product, a replacement product or a potential switch of your main banking provider? (High importance + Medium importance) Page 19 Customer Survey Results
  • 20. Customer Behaviour Preferred method of interaction What is your preferred method of dealing with your bank for different types of products, services and activities? Page 20 Customer Survey Results
  • 21. Customer Behaviour Paying for banking products/services What are your expectations in terms of paying for banking products / services? (Mainly agree) Page 21 Customer Survey Results
  • 22. Customer Satisfaction Level of satisfaction Page 22 Customer Survey Results
  • 23. Customer Satisfaction Bank Loyalty How many years have you been banking with your current main bank? Page 23 Customer Survey Results
  • 24. Customer Satisfaction Change of banking provider Have you ever changed your main banking provider? 2011  2012 Page 24 Customer Survey Results
  • 25. Customer Satisfaction Reason for change of banking provider What reasons would/did make you change your banking provider? Page 25 Customer Survey Results
  • 26. Customer Satisfaction Degree of satisfaction What is your degree of satisfaction? Page 26 Customer Survey Results
  • 27. Customer Satisfaction Level of personalization How would you rate the level of personalized attention provided by your bank? Page 27 Customer Survey Results
  • 28. Customer Satisfaction How to increase satisfaction Page 28 Customer Survey Results
  • 29. How to Increase Satisfaction? Loyalty Program Enrollment Have you enrolled with a bank loyalty/rewards program? 2011  2012 Page 29 Customer Survey Results
  • 30. How to Increase Satisfaction? Loyalty program expectations What do you or would you value the most from a loyalty program? Page 30 Customer Survey Results
  • 31. How to Increase Satisfaction? Activities Improvement Which of the banking activities would you most like your bank to improve/make easier to increase your satisfaction with the service they provide? Distribution per continent (Top 5) Page 31 Customer Survey Results
  • 32. How to Increase Satisfaction? Personal Information Would you be willing to provide your bank with more information about yourself, and/or your family, if it helped your bank to recommend a more appropriate account or deliver a better service for you and your family? Page 32 Customer Survey Results
  • 33. How to Increase Satisfaction? Information Update How often would you be prepared to update the information for your bank? Page 33 Customer Survey Results
  • 34. How to Increase Satisfaction? Improve Products & Services to meet requirements If you’re not satisfied, what are the main ways the bank can improve this aspect? (Products / services to meet requirements ) Page 34 Customer Survey Results
  • 35. How to Increase Satisfaction? Improve Internet Site Experience If you’re not satisfied, what are the main ways the bank can improve this aspect? (Internet site experience ) Page 35 Customer Survey Results
  • 36. How to Increase Satisfaction? Improve Mobile Banking Services If you’re not satisfied, what are the main ways the bank can improve this aspect? (Mobile banking services ) Page 36 Customer Survey Results
  • 37. How to Increase Satisfaction? Improve Transparency of fees If you’re not satisfied, what are the main ways the bank can improve this aspect? (Transparency of fees ) Page 37 Customer Survey Results
  • 38. Contact Ernst & Young Assurance | Tax | Transactions | Advisory About Ernst & Young Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 152,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve potential. For more information, please visit www.ey.com. © 2012 EYGM Limited. All Rights Reserved. Proprietary and confidential. Do not distribute without written permission. Page 38 Customer Survey Results