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Bank gains competitive advantage with E-Scan – a case study
In this 2 minute blog, you read how a large bank uses the E-Scan to engage customers and how it leads to benefits for their prospects.
Rabobank, the largest bank in the Netherlands, focuses on delivering value to its customers. For instance, the commercial team uses a comprehensive support package to engage start-ups. For example giveaways like roadmaps, specific guidance for self-employed and a Starters’ community to provide input for aspiring business people.
In this blog, I’ll tell you first about how Rabobank uses the E-Scan to engage customers. Secondly, how they enhance the experience with a co-branded ‘entrepreneurship’ option. Finally, how that leads to benefits for the visitor and ultimately the bank.
How Rabobank uses E-Scan
Rabobank provides a comprehensive package of support and services to attract new business start-ups.
By engaging visitors with specific portals depending upon its target audience, it focuses attention on how to improve business performance. Furthermore, Rabo E-Scan assists aspiring business owners in the self-development process as they complete their business plans as part of their bank loan applications.
How does E-Scan work for Rabobank?
- By quickly engaging and adding value. Focusing on improving personal business capability (entrepreneurial competence).
- Using a personalized report. It enables the customer and account manager to discuss capabilities to develop (connecting people).
- The credit committee may include the E-Scan report as part of the SWOT analysis.
- Strengths and Weaknesses are assessed personally. Opportunities and Threats are assessed through the business plan (enhanced information). See the E-Scan Confrontation Tool.
- How will the business person react when faced with challenges? (real understanding).
- From here the bank is able to build an enhanced picture of what may happen in uncertain times (minimize the risk).
Each business person that works alongside their bank wishes a bank that views them as more than a risk or an account holder.
Therefore Rabobank’s customers engage actively using a product like E-Scan to provide a different level to the relationship.
Getting to know how your customer thinks and acts entrepreneurially sets the bank apart from its competitors. That reflects the customer; their confidence grows in the support they receive.
- Bank employees ‘know’ them better, trust them more and support them further (improved relationship).
- Increased interest in personal capabilities. Actions to improve personal performance, leading to better business performance (business improvement).
- When times are difficult, the customer is more likely to receive a better reception to requests for assistance (trust).
What are Rabobank’s benefits using E-Scan?
It’s popular to talk about entrepreneurs, even if the term is loosely applied to a lot of business people. However, having the opportunity to focus on ‘entrepreneurial competence’ and recognizing the benefits of improved personal performance relates to better business performance.
Start-ups try to minimize their risk of failure. Existing business owners improve personal who seek to grow their business recognize how using E-Scan means they improve personal and business performance, which matches our mission.