Customer care instead of trouble shooting - banking that matters (2)

Concordiste Interview with Ksenia Kroshneva
September 2015

Concordiste: Usually a Russian homeowner gets in touch with a bank when something unpleasant happens in the area of housing: a broken water pipe, an elevator that is out of order and need fixing in a 20 stories apartment. Is this the first step to banking homeowners?

Ksenia Kroshneva: Let’s turn the situation and think of a bank that contacts the homeowners and their associations with good news, e.g. hot water meters, which help to saving water and money on daily basis. Now, it’s time for moving the relationships beyond the broken pipe – to a positive personal relationship and towards positive occasions for interaction. It is important to demonstrate that speaking with the bank prevents bad news in time. If a bank has energy audits to offer as means of identifying the weaknesses and the ways to eliminate them, such service may be a good step forward and an investment that pays off in more interesting loan volumes. Here we can mention an example of Center-invest bank in Southern Russia, who maintains regular relationships with local HOA associations and encourages Clients to assess their buildings’ situation and take measures before unpleasant things happen.

Concordiste: What does the bank gain from it? Are the margins interesting on residential loans?

Ksenia Kroshneva: The bank can open current/deposit accounts for homeowners association (HOA), provide infrastructure for payments, design tailored loan products, which will become more real-time since credit risk evaluation for the existing bank client is much easier with a history of payments. The bank may discover the opportunity to deliver extra services for clients through cross sales and offer the retail products such as credit cards, cash loans or deposits.

Concordiste: Among Russian banks, only two (Sberbank and MDM Bank) promote services offered to homeowners, partly even online. These services are promoted in the section “small and medium enterprises”. Why is that?

Ksenia Kroshneva: This is why relationship approach is key - changing the direction from just selling loans to offering a package of services, also for entrepreneurs among residents will help to build long-term relationship and open new business potential for the bank. Step two is about building relationships with homeowners associations just as with any other Client.

September 2015
Three steps to banking homeowners in Russia (1)
Concordiste: Interview with Ksenia Kroshneva
In a session of three interviews Concordiste speaks with Ksenia Kroshneva, marketing expert of EBRD’s Russian Residential Sustainable Energy Financing Facility about banking of homeowners’ associations needs in Russia.
June 2015
Women in Business: Mentoring for Entrepreneurial Skills Development
Katharina Blum
Concordiste coached a female photographer in first steps on establishing own business and received for that an award from the Women’s Career Network Vienna.
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