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100226   Fsf   Fscs Countdown To Compliance
100226   Fsf   Fscs Countdown To Compliance
100226   Fsf   Fscs Countdown To Compliance
100226   Fsf   Fscs Countdown To Compliance
100226   Fsf   Fscs Countdown To Compliance
100226   Fsf   Fscs Countdown To Compliance
100226   Fsf   Fscs Countdown To Compliance
100226   Fsf   Fscs Countdown To Compliance
100226   Fsf   Fscs Countdown To Compliance
100226   Fsf   Fscs Countdown To Compliance
100226   Fsf   Fscs Countdown To Compliance
100226   Fsf   Fscs Countdown To Compliance
100226   Fsf   Fscs Countdown To Compliance
100226   Fsf   Fscs Countdown To Compliance
100226   Fsf   Fscs Countdown To Compliance
100226   Fsf   Fscs Countdown To Compliance
100226   Fsf   Fscs Countdown To Compliance
100226   Fsf   Fscs Countdown To Compliance
100226   Fsf   Fscs Countdown To Compliance
100226   Fsf   Fscs Countdown To Compliance
100226   Fsf   Fscs Countdown To Compliance
100226   Fsf   Fscs Countdown To Compliance
100226   Fsf   Fscs Countdown To Compliance
100226   Fsf   Fscs Countdown To Compliance
100226   Fsf   Fscs Countdown To Compliance
100226   Fsf   Fscs Countdown To Compliance
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100226 Fsf Fscs Countdown To Compliance

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This presentation provides a high-level outline of the Financial Services Authority (FSA) requirements for UK deposit takers to comply with Policy Statement 09-18 issued in November 2009, This …

This presentation provides a high-level outline of the Financial Services Authority (FSA) requirements for UK deposit takers to comply with Policy Statement 09-18 issued in November 2009, This includes creating a Single Customer View (SCV) for Fast Payout under the Financial Services Compensation Scheme (FSCS) to be implemented by 31 December 2010.

SCV has been a "Holy Grail" for Financial Services marketers for many years now. Might this regulatory change present the industry with an opportunity to finally achieve multi-channel engagement nirvana?

Read on to find out more.

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Transcript

  • 1. Countdown to Compliance
  • 2.
    • 6 November 2009
    • 31 July 2010
    • 31 December 2010
    • 31 January 2011
  • 3.  
  • 4. What are the SCV requirements?
  • 5. What are the SCV requirements?
  • 6. What are the SCV requirements? APPROVED
  • 7. What will it cost and who will it affect? (Source: FSA Fast Payout Report, November 2008 by Ernst & Young)
  • 8. What will it cost and who will it affect? (Source: FSA Fast Payout Report, November 2008 by Ernst & Young)
  • 9. What will it cost and who will it affect? (Source: FSA Fast Payout Report, November 2008 by Ernst & Young)
  • 10. What will it cost and who will it affect? £17M
  • 11. Acxiom’s Approach STEP 1 DATA QUALITY AUDIT STEP 4 CUSTOMER-LEVEL DATA MATCH & INTEGRATION STEP 3 EXTERNAL DATA REFERENCE LOOK-UP STEP 5 AUDIT REPORT STEP 2 DATA CLEANSING & STANDARDISATION
  • 12. Acxiom’s Approach
  • 13.  
  • 14. So what’s any of this got to do with marketing?
  • 15. REGULATION CUSTOMER EXPERIENCE RELEVANCE DEMONSTRABLE ROI REDUCED MARKETING BUDGETS TRUST CONSUMER DEBT CORPORATE GOVERNANCE NEGATIVE PUBICITY DEPRESSED SHARE PRICE FSA COMPLIANCE RECESSION DIGITAL CHANNELS RISK MANAGEMENT PUBLIC OWNERSHIP . ENGAGEMENT CUSTOMER LIFETIME VALUE
  • 16.
    • Define value propositions
    • Brand and reputation management
    • Manage channel communications
    • Acquire new customers
    • Manage customer experiences & lifecycles
    • Drive sales & revenues
    • Predict and forecast
    • Identify prospects
    • Understand needs
    • Segment universe
    • Target media and customers
    • Position value propositions
    • Manage touch-point data
    • Operationalise insight
    • Track and measure sales
    • Make strategic decisions
  • 17.
    • Define value propositions
    • Brand and reputation management
    • Manage channel communications
    • Acquire new customers
    • Manage customer experiences & lifecycles
    • Drive sales & revenues
    • Predict and forecast
    • ACCURATE & TIMELY
    • SINGLE CUSTOMER
    • VIEW DATA
    • Identify prospects
    • Understand needs
    • Segment universe
    • Target media and customers
    • Position value propositions
    • Manage touch-point data
    • Operationalise insight
    • Track and measure sales
    • Make strategic decisions
  • 18.
    • Multiple -channel
    • Marketing
    • Head of Marketing
    • Head of Digital Marketing
    • Head of Brand Strategy
    • Brand Manager
    • Head of Acquisition
    • Head of Retention
    • Head of Segmentation
    • Head of Analytics
  • 19.
    • Multiple -channel
    • Marketing
    • Head of Marketing
    • Head of Digital Marketing
    • Head of Brand Strategy
    • Brand Manager
    • Head of Acquisition
    • Head of Retention
    • Head of Segmentation
    • Head of Analytics
    • Multi -channel
    • Engagement
    • CHIEF
    • CUSTOMER
    • OFFICER
  • 20.  
  • 21.  
  • 22.  
  • 23.  
  • 24. Content Distribution Email Mobile Web Personalisation Online Media (Display) … SCV Business rules Reporting / Analytics The “Closed loop” Modelling “Sandpit” Data clean, merge & append
  • 25. Summary
    • Single Customer View Compliance is coming...
    • ...FAST!
    • It will affect deposit takers
    • This is an OPPORTUNITY for marketers
    • Doesn’t have to be a Big Bang approach
    • Consequences of getting it wrong will be BAD
    • Bottom-line impact of getting it RIGHT could be SIGNIFICANT
  • 26. THANK YOU FOR YOUR ATTENTION http://www.acxiom.co.uk louis.fernandes@acxiom.com +44 7958 292 616 http://uk.linkedin.com/in/louisfernandes http://twitter.com/louisfblog or @louisfblog louis.fernandes

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