Barclays 2013 Annual Report Download - page 29

Balanced Scorecard
Helping people
achieve their
ambitions in the
right way
Customer and client
Barclays is a powerful local bank, a powerful regional bank and a
powerful global player. We use this unique advantage to the benefit of
our customers and clients.
In Retail and Business Banking (RBB), we have focused on enhancing
the customer experience. In South Africa this began with simplifying
transactional product offerings, expanding the digital experience
through the launch of our banking app, and rolling out a fully
integrated online insurance platform. In our rest of Africa markets,
customers are benefiting from revised Premier and Prestige banking
proposition, Barclays Direct, Worldmiles Platinum credit / debit card as
well as CashSend money transfer. It is our goal to simplify processes
and improve customer experience.
We will measure our progress in our RBB businesses through our Net
Promoter Score® a widely used measure of customer advocacy.
Through regular and rigorous review of our customers’ and clients’
feedback we will identify where and how we need to invest to make the
customer journeys simpler, more intuitive and more personalised.
The African continent provides an excellent growth
opportunity for the Group. With our strategy for Africa,
we are well-positioned to benefit from this emerging
market opportunity.
Market and operating environment
Emerging markets’ growth eased somewhat in 2013 whilst developed
country central banks maintained their accommodative monetary
policy stance, with some cutting interest rates and others injecting
liquidity into the financial system. South Africa’s economic growth
remained muted and we faced increasingly strong competition. In our
rest of Africa markets, economic growth remained resilient. Our
regulatory environment continues to evolve and rising customer and
client expectations as well as new technologies are challenging how we
do business.
Business Model risks
Current economic conditions in South Africa bring increased financial
pressure on customers and clients, some of whom may already be
struggling to fulfil their payment obligations when faced with subdued
economic activity and potentially rising interest rates. Rest of Africa
challenges such as infrastructure constraints, lower commodity prices,
and fiscal and current account imbalances in some markets have led
to modest declines in our economic growth forecasts for some of
the economies.
Intensified regulatory and government intervention ensures a sound
operating environment; however, it does lead to increased cost of
compliance and complexity of doing business.
We continue to see a host of emerging and non-traditional competitors
as well as increasing consumer expectations for traditional banks to
meet new service standards.
Contributing to income by
 Interest income from loans less interest
paid on deposits
 Regular fees (account fees, advice,
service and investment advice)
 Specific product sale and transaction
fees
 Commissions and spreads on client
transactions
 Minimising impairment through
responsible lending and supporting
customers and clients back to financial
health
Sustaining business by
 Building upon our strengths, replicating
what we do well and continuously
improving our offerings
 Targeting our activities in those areas
where we know we can compete
strongly and provide best in class
solutions
 Making the investments into simplifying
how we operate, while ensuring we keep
this transparent for our customers and
clients
 Running a financially stable, risk
conscious business
 Ensuring we have the right people giving
the right advice, delivering the most
suitable services
Contributing to strategy
Our competitive position is a combination of being a powerful local, regional and global bank. We use this advantage
for the benefit of our customers and clients – becoming their ‘Go-To’ bank across our Retail and Business Banking,
Corporate and Investment Banking as well as our Wealth, Investment Management and Insurance businesses.
Bring diverse benefits…
 Better customer and client experiences
and outcomes
 Reduction in processing times and
associated errors
 Tailored services
 Support and access to lending / capital
 A gateway to the best of Barclays advice
and services
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