Standard Chartered Case Study: Charting New Mortgage Territory

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


Report Highlights

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DATAMONITOR VIEW 1
CATALYST 1
SUMMARY 1
ANALYSIS 2
Introduction 2
Standard Chartered's strength lies in it's diversity 2
Mortgage markets globally must be injected with some much needed innovation 3
Lenders must find new ways to address the needs of disadvantaged groups such as first-time buyers 4
Mortgages can be used as a weapon in the battle to build customer loyalty 4
The UK mortgage market has been battered by the credit crunch but there is scope for an increase in home ownership and mortgage penetration 4
Standard Chartered's FamilyLink series (LinkOne) has been innovative in helping increase affordability for first-time buyers 5
Standard Chartered also offer a wide range of flexible repayment options that go far beyond what is available in more developed markets 10
Standard Chartered's offerings cater strongly to the Individualism and Connectivity Megatrends 11
Individualism is key to the design of Standard Chartered's LinkOne mortgages 11
Connectivity is key to the popularity of Standard Chartered's mortgage offerings 11
Mortgages that enable third party contributions and guarantees could become the norm for first-time buyers in the UK 11
Increased repayment flexibility could appeal to those looking for a tailored product 12
Standard Chartered should not be complacent about its foothold in the Far East 12
APPENDIX 13
Definitions 13
The Datamonitor Financial Services Consumer Insight Megatrend Framework 13
Authenticity 13
Comfort 13
Connectivity 13
Convenience 13
Individualism 13
Wellbeing 13
Demographic Complexity 13
Financial Intelligence Complexity 13
Lifestage Complexity 14
Wealth Complexity 14
Methodology 14
Further reading 15
Ask the analyst 16
Datamonitor consulting 16
Disclaimer 16
List of Figures
Figure 1: The bank has enjoyed significant growth year on year, especially so over the last five years 3
Figure 2: Since the mid-1990s the affordability of first-time mortgages in the UK has halved 5
Figure 3: First-time buyer deposits have sharply escalated since the late 1990s 6
Figure 4: FamilyLink's 'LINK EARN SAVE' message truly embraces the family values and generates benefits for both mortgage customers and their family members 7
Figure 5: Standard Chartered's FamilyLink series (LinkOne) has been innovative in helping increase affordability for first-time buyers 8
Figure 6: Customer testimonials attest to FamilyLink's popularity 9
Figure 7: Standard Chartered in Hong Kong offers several different options for repayment 10

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