JP\/17\/<\/p>\n
Red carpet treatment for privileged customers<\/p>\n
Andi M. Sadat
\nContributor
\nJakarta<\/p>\n
Although the national economy has not fully recovered, some
\nbusinesses are thriving. The country's major banks are one
\nexample.<\/p>\n
As noted marketing management expert Rhenald Kasali said at a
\nseminar held by Bank NISP: "You shouldn't mope around or be
\ndrowned in pessimism caused by the news in the media. That will
\nonly make your competitors happy, as they will actively make the
\nbest of the situation. They are the optimistic type who can
\nalways find unique solutions even in the worst situation."<\/p>\n
This optimism was further confirmed by the result of a survey
\ncarried out by business magazine Warta Ekonomi two years ago,
\nwhich indicated that the country had premium customers with funds
\ntotaling some Rp 450 trillion. "This fantastic amount of money,
\nowned by about 600,000 people here, is close to one-third of the
\nmoney in circulation in Indonesia," said Agoes Soebektie,
\ndirector of consumer banking at Bank Negara Indonesia.<\/p>\n
The existence of super-rich customers in Indonesia has
\napparently triggered a special kind of service -- priority
\nbanking -- that is provided not only by foreign banks operating
\nhere, but also by most major domestic banks, such as Bank Negara
\nIndonesia (BNI), Bank Central Asia (BCA), Bank Niaga, Bank
\nMandiri, Bank Danamon and so forth.<\/p>\n
These privileged customers -- high net worth individuals
\n(HNIs) in bankers' lingo -- are provided with specially designed
\nproducts and services that are also extremely customized and
\npersonalized. "It's like royal treatment for kings and queens,"
\nsaid Lynna Muliawan, head of consumer banking development at Bank
\nNiaga.<\/p>\n
Personal bankers are also on hand to give them personalized
\nprofessional service in a luxurious private room, not only for
\nroutine banking needs but to assist them as investment and
\nfinancial consultants.<\/p>\n
Bank Mandiri also throws in safety deposit boxes at no extra
\ncharge. Next to special interest rates for savings and deposits,
\nthis bank also provides them with a special card -- Kartu Bank
\nMandiri Prioritas -- as an identity card that entitles its holder
\nto pampered treatment, not only at Bank Mandiri branches, but
\nalso in the executive lounges at most major airports in
\nIndonesia. They are also given priority by airport handling
\nservices and special facilities at numerous star-rated hotels and
\nrestaurants. Free invitations to seminars sponsored by Bank
\nMandiri are also offered them.<\/p>\n
Meanwhile, PrimaGold Banking, launched by Bank Danamon in
\nAugust 2002, also provides similar services. Its personalized
\nrelationship officers are available in the bank's offices in
\nevery major city in Indonesia. Along with professional financial
\nplanners, they assist their clients in how to invest their money
\nbased on up-to-date financial information.<\/p>\n
PrimaGold customers automatically get gold or platinum credit
\ncards with an enormous credit limit. Specially high interest
\nrates for deposits in rupiah and dollars are also enjoyed by
\npremium clients.<\/p>\n
Bank Lippo offers its privileged customers VIP banking. A
\ncombined balance for both savings or deposits and current account
\nis set at Rp 200 million as the minimum for a customer to be
\nincluded as a VIP client of the bank. Such customers are then
\ngiven one-stop banking services in special de-luxe rooms, banking
\nand financial assistance that includes investment guidance from
\nrelationship officers and credit cards (Visa Gold and Master
\nGold), that provide a huge credit limit without annual fees.
\nTheir Visa Electron cards for cash withdrawals at automated
\nteller machines also carry higher withdrawal limits than are
\nextended to ordinary customers.<\/p>\n
Bank Lippo VIP customers are covered by VIP Home Care, an
\ninsurance policy for protection of their homes at special rates,
\nand huge insurance coverage. Other insurance provided is VIP
\nMotor Care, for their vehicles, and Hospital Refundable
\nInsurance, which pays up to Rp 500,000 per day for hospital
\ncharges.<\/p>\n
Although extremely lucrative, many bankers admit that apart
\nfrom fierce competition, super-rich customers are highly
\ndemanding and fickle. Winning their hearts, therefore, is not an
\neasy job.<\/p>\n
In today's era of access, personalization and maintaining
\nrelationships are key factors, said Rhenald. The days are gone
\nwhen transactions were considered as one-off occurrences. A "one-
\nnight-stand" attitude is definitely not helpful to maintaining
\nloyalty and eventually making long-term profits for either party,
\nthe customer or the bank.<\/p>\n
While taking care of a client's money, a bank manager or
\nrelationship officer must keep in mind all the time that it is
\nthe owner of the money: The human factor, in this case, is far
\nmore important. Just like the saying, "There's a child in each of
\nus ... ," Rhenald said merely giving customers delightful
\nsurprises, for example, gifts on their birthdays or the like,
\ncements the relationship further. Often, even inexpensive items
\non the right occasion work better than raffles.<\/p>\n
With such huge wealth each has tremendous bargaining power;
\nmatching the needs of each privileged customer in order to retain
\ntheir business is an art in itself, concluded Rhenald.<\/p>",
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