Overview:

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
*Capitalize on the knowledge of experienced companies when entering a new niche or market

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