Relationship Management Training for National Bank of Kenya
Background to the partnership
Interactive, scenario-based relationship management training for all National Bank of Kenya business development staff delivers impressive training ROI and significant achievements in respected banking industry client service awards.
National Bank of Kenya is a major player in Kenya’s banking industry and aspires to be the preferred bank in the provision of comprehensive financial solutions in East Africa.
It employs more than 1,400 staff and has a growing network of branches and ATMs across the country, combined with established digital channels for mobile and internet banking. National Bank of Kenya also operates two subsidiary companies focused on investment banking and insurance.
National Bank of Kenya believes in the importance of training and development to drive productivity, attract and retain talent, and to improve employee engagement.
Having identified a business growth opportunity within its portfolio of over 500,000 customers, National Bank of Kenya wanted to develop a client relationship management training programme for all its business development staff with the objectives of:
- Improving their cross-selling and upselling techniques
- Equipping them with a solutions-based, relationship management approach to sales
- Creating a standout team with a focus on client loyalty and engagement
The ultimate goal of the programme was to differentiate the bank from its competitors and establish itself as a trusted partner with its clients.
National Bank of Kenya decided to partner with Euromoney Learning on the design and delivery of this training programme for five reasons:
We set out to identify a supplier with a proven track record in developing bespoke, research-based solutions and who has unrivalled subject matter expertise in the global and local financial services industry. After a thorough search, we selected Euromoney. They stood out above the rest!
Our approach is always collaborative. We held a series of meetings between National Bank of Kenya’s internal subject matter experts and our expert trainers.
In these meetings we explored their training need, defined the desired outcomes and agreed the most viable learning approach, taking into account the learner experience, key deliverables and objectives. As a result, we designed a bespoke training proposition, tailored to the exact needs of the business.
It included frequent use of specific customer scenarios, case studies and expert guided role plays to give participants the opportunity to apply the theory they were learning to real-life challenges they face in the workplace.
The classroom-based programme was interactive, practical and memorable. Our expert trainer guided participants through skills and strategies for dealing with each stage of the relationship management cycle, based on our proprietary relationship management training model, CIRCLETM . As well as detailed course materials, participants were provided with a crib sheet that they continue to use on a daily basis to remind them of the skills learned on the course.
Over a two year period we trained 168 business development staff. The group consisted of a mix of branch managers, relationship managers and regional business heads from across the whole business (retail, corporate, Islamic banking
Participant feedback was very positive. Line managers of the course participants reported a noticeable change in behaviour, mindset and how customer relationships are handled.
The business development team are now more proactive in response to customer needs and their turnaround time (TAT) has improved dramatically. National Bank of Kenya has undertaken detailed training Return On Investment (ROI) analysis since completing the training programme.
We are proud that the training programme has met the key objectives it set out to achieve:
Improve cross-selling and upselling
The Retail Premium relationship management team grew their existing customers’ portfolio by 7% in the seven months after the training took place, which correlates to a 42% ROI comparing net interest from additional deposits with the cost of training the team.
Establish a relationship management approach to sales
Despite a challenging business environment, corporate banking relationship managers grew deposits by 44% - an ROI of 391% comparing net interest income earned from the deposits with the cost of training the team. The Retail team also opened a significant number of new customer premium accounts in the six month time period after the training, representing an ROI of 18%.
Create a standout team focused on client loyalty
National Bank of Kenya has received very positive client feedback following an industry wide customer satisfaction survey completed 6 months after the training had taken place (December 2018).
They were also placed second in the January 2019 Kenya Bankers Association’s banking survey in the Tier II banks category as “Most Customer Centric Bank”. Both achievements clearly indicate the excellent relationship management skills demonstrated by their team.
One year on, National Bank of Kenya emerged as Runners Up in the “Most Customer Centric Banks in Kenya”category of the 14th annual banking awards run by Think Business. The client is very pleased with the results from the training and we are exploring further partnership opportunities in line with their evolving business needs.
The instructor was remarkable, practical and exuded expertise on customer profiling...This helped the participants internalise the skills while inspiring them to go to the market and apply. The results are profound and the skills have naturally crystallized as part of the business development staff DNA.
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