Mortgages for the Affluent

Mortgages for the Affluent


Services: Competitive Analysis, Mystery Shopping

Sector: Financial Services

Challenge: In the aftermath of the US financial crisis banks are reluctant to offer mortgages to many of their middle class customers but need to expand revenue. That places intense competitive pressure on banks to pursue lower risk affluent customers, whom banks are now bending over backwards to service. Competing in the HNW or affluent market requires bold new approaches for many banks from marketing to product development to acquisition, servicing and retention. Most banks are ill prepared to service the affluent, from what they can offer to how they service customers.

Approach: Utilizing mystery shopping techniques as well as interviews with actual and recently dismissed mortgage managers, AMI was able to analyze seven financial service providers who offered some best practices in the multiple areas of their service offering.

Result: The client was able to draw winning examples of service, infrastructure and product excellence and begin re-engineering their mortgage division.

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