Abstract
Introduction
This case study on Standard Chartered forms part of Datamonitor' s Financial
Services Consumer Insight series, as part of which best practice in specific
areas of FS are highlighted.
Scope
- This case study analyses the key successful elements in Standard
Chartered' s mortgage offerings
- The case study examines how the bank' s mortgage offerings appeal to
consumers so strongly
- Datamonitor' s Financial Services Megatrend Framework is used to analyse
the effectiveness of customer targeting strategies
Highlights
Standard Chartered' s FamilyLink products allows customers to maximize personal
connections with family and friends - literally bonding family members
together through the products, providing opportunities for them to help each
other out, and with mutually beneficial results, too.
Reasons to Purchase
- Gain insight into the methods used by important industry players to give
them a competitive edge
- Identify the implications of changing consumer behaviours
- xCapitalize on the knowledge of experienced companies when entering a new
niche or market
Table of Contents
DATAMONITOR VIEW
CATALYST
SUMMARY
ANALYSIS
- Introduction
- Standard Chartered' s strength lies in it' s diversity
- Mortgage markets globally must be injected with some much needed innovation
- Lenders must find new ways to address the needs of disadvantaged groups
such as first-time buyers
- Mortgages can be used as a weapon in the battle to build customer loyalty
- The UK mortgage market has been battered by the credit crunch but there is
scope for an increase in home ownership and mortgage penetration
- Standard Chartered' s FamilyLink series (LinkOne) has been innovative in
helping increase affordability for first-time buyers
- Standard Chartered also offer a wide range of flexible repayment options
that go far beyond what is available in more developed markets
- Standard Chartered' s offerings cater strongly to the Individualism and
Connectivity Megatrends
- Individualism is key to the design of Standard Chartered' s LinkOne
mortgages
- Connectivity is key to the popularity of Standard Chartered' s mortgage
offerings
- Mortgages that enable third party contributions and guarantees could
become the norm for first-time buyers in the UK
- Increased repayment flexibility could appeal to those looking for a
tailored product
- Standard Chartered should not be complacent about its foothold in the Far
East
APPENDIX
- Definitions
- The Datamonitor Financial Services Consumer Insight Megatrend Framework
- Authenticity
- Comfort
- Connectivity
- Convenience
- Individualism
- Wellbeing
- Demographic Complexity
- Financial Intelligence Complexity
- Lifestage Complexity
- Wealth Complexity
- Methodology
- Further reading
- Ask the analyst
- Datamonitor consulting
- Disclaimer
List of Figures
- Figure 1: The bank has enjoyed significant growth year on year, especially
so over the last five years
- Figure 2: Since the mid-1990s the affordability of first-time mortgages in
the UK has halved
- Figure 3: First-time buyer deposits have sharply escalated since the late
1990s
- Figure 4: FamilyLink' s ' LINK EARN SAVE' message truly embraces the family
values and generates benefits for both mortgage customers and their family
members
- Figure 5: Standard Chartered' s FamilyLink series (LinkOne) has been
innovative in helping increase affordability for first-time buyers
- Figure 6: Customer testimonials attest to FamilyLink' s popularity
- Figure 7: Standard Chartered in Hong Kong offers several different options
for repayment
