Barclays tailors mail

Barclays Bank has launched one of the UK’s largest direct-marketing campaigns, offering tailored information to customers based on their anticipated needs.

Barclays Bank has launched one of the UK’s largest direct-marketing

campaigns, offering tailored information to customers based on their

anticipated needs.



The campaign, put together by direct-marketing firm Rapier, is targeting

all of the bank’s ten million current account holders.



The bank has two related aims for the mailshot: to counter an increasing

number of complaints about poor service; and to promote the launch last

week of a service that allows customers to make immediate withdrawals on

uncleared cheques.



Customers have been segmented into 300 sub-groups based on information

the bank held about previous transactions.



The mailers include information about financial services tailored to the

individual based on information about the customer’s previous use of the

bank.



Gordon Rankin, managing director of Barclay’s Personal Banking, conceded

that the bank needed to improve its customer service offering because

its current level of service was considered to be poor.



A key element in the change of direction, and one that will probably

drag the other high street banks in its wake, is Barclays’ decision to

cut out the cheque processing cycle.



A cheque can be drawn on immediately after it is deposited by a

customer, rather than a wait of five days, though if it bounces the

account holder will be liable for the amount.



Rankin added: ’Transactional banking has not changed since the 19th

century ... it is an outdated system and yet we say to customers you

must work around our model.’



One of the most common complaints among bank customers is the length of

time it takes for a cheque to clear - five days - and the inconvenience

it can cause.



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