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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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