A Client Success Story
How ING Financial Markets transformed the customer experience by adding EQ to their IQ
“Our growth is above the industry norm but more importantly, 80 percent of that growth is coming from existing clients, showing thepositive effect that this approach has in terms of customer loyalty.”
Financial markets were driven very much by IQ in the past. That’s not enough anymore.
ING Wholesale Banking’s Financial Markets developed the soft skills capability of its 350 sales staff to help them restore trust and form a more personal relationship with their clients. Here’s how one of the toughest businesses of ING is adding EQ to their IQ with great results. Two years ago, de Boer and his team began bringing social aspects of emotional intelligence, known as EQ, into leadership, communication, performance and consequence management and training. The overriding theme guiding this was the need to rebuild trust. This new approach required them to create a more intimate relationship with clients as well as to change the way they see themselves - what is known as self-orientation. This result is more 'win-win' situations, where banker and client are “in it together”. A recent McKinsey survey on the culture of the bank found that ING FM Sales now rank above the industry norm, and that it has higher staff engagement relative to its peers. People are more motivated and there is greater collaboration between departments, with productivity increasing by 10 percent. Clients like the new approach as well, seeing it as a refreshing change from their dealings with other banks. “Our growth is above the industry norm but more importantly, 80 percent of that growth is coming from existing clients, showing the positive effect that this approach has in terms of customer loyalty,” says Mark Pieter de Boer, Global Head of Financial Markets.
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