PEOPLE, SERVICE AND PROFIT AT JYSKE BANK

Prepared By: Chetan Chauhan Sanya Gandhi Ashish Agarwal Vishal Agarwal Vivek Manish Yadav

JYSKE BANK
Incorporated in 1967 through the merger of 4 Danish banks. Recognized at most differentiated and unremarkable bank. But in mid 90s, the change process lost its differentiating characteristic. Till 2003, Jyske bank has maintained the highest no. of satisfied customers

STRATEGIES
MID 1990

2003

One employee for a group of customers Physical Evidence: Dull images for employees A long procedure before process could be lead to computer.

A customer allotted to a group of bankers Friendly images of employees. The procedure is highly reduced for better services.

JYSKES COMPETITIVE POSITIONING

Physical Evidence Targeting the right customers A Customer is assigned to a group of bankers Friendly pictures of employees

People Oriented Focused on niche market Training for good customer service Incentives Empowerment

Out of Box Service

Value Added

Cutting Edge
Technology Similar Delivery- Significant difference Tools developed- To Identify customer needs Tools + People= Cutting edge

Service culture that differentiates

Product selling approach to Customer oriented approach Delivery of Financial products Employee centric

Q: What did Jyske bank change to enable it to deliver its new competitive positioning? Ans: Tangible Changes:

Account team Branch design Details

Intangible changes:

Training Empowering the branches and throughout the bank

Q: How did Jyske Bank implement those

changes? Ans: Jyske Bank can implement changes in following ways:

Selection: Not only banking skills but also social ability Training Incentives : Stock, annual raises and one time
payment

Commitment Measuring performance and financial results:

RORAC, measures customer satisfaction and employee satisfaction

Communication: All changes should be

THANK YOU