URALSIB Financial Corporation (FC) is a conglomerate with more than 18 years of success in trade, investment, private banking, insurance and asset management. The corporation offers all types of corporate and private financial services. Its regional network consists of 1,087 points of sale in 81 Russian regions.
Values of the Brand
Efficiency. URALSIB shows great performance and growth rates at an acceptable level of risk. It focuses on strategic goals and concrete results. Profitability is a key factor in URALSIB’s growth and one of its main goals. Business reputation. URALSIB’s impeccable business reputation is an important asset and its key to successful partnership and fair competition. The corporation’s business reputation is associated with reliability, integrity and success in business activities. URALSIB Financial Corporation always fulfills its obligations to its shareholders, customers, partners, employees, the nation and society. Loyalty of the market. Trust of the market is more important to URALSIB than its current profitability. The corporation highly values each customer and cherishes their loyalty. Market loyalty is a consequence of consistent customer satisfaction. Customer interests are the top priority for URALSIB Financial Corporation. Therefore its goal is to develop customers’ entrepreneurial activities, help them grow their income and protect their interests. Social responsibility and partnership. Today’s environment requires companies to be socially oriented, which is why URALSIB’s social responsibility is not limited to compliance with current legislation and paying taxes. Assistance to ordinary people and the state in the implementation of economically and socially important projects is an integral part of the corporation’s activities. Innovativeness. Innovativeness is the only way to preserve and increase corporate advantages. While trying to forecast the needs of its customers, URALSIB Financial Corporation actively deploys innovative products, processes and technologies. The corporation applies, adapts and improves the best practices evolving on the market.
Integrated corporate culture. The core of URALSIB’s corporate culture consists of its integrated systems of values, business and internal principles, ethical norms and regulations. Personnel. The corporation considers its personnel to be its strategic resource and competitive advantage; it therefore creates conditions for balanced professional and personal development of its employees.
Innovations & Promotion
Innovations used in the management of the corporation directly impact the success of the URALSIB brand and are a prerequisite for its future development.
The most significant factors in the development of the brand include:
1. Building a customer relationship management system
In order to meet private customer demands, the corporation’s retail business is carried out in accordance with the Financial Supermarket marketing model.
The Financial Supermarket includes retail banking, insurance and collective investments (mutual funds and pension products). The ideological basis for the Financial Supermarket is a sales model built according to the one-stop-shop principle. In order to optimize costs and service efficiency the corporation uses the Financial Conveyor technology, which provides for formalization and maximum automation of operations at all stags of the service process.
2. Regional network management
All financial businesses within the Financial Corporation have a common sales network. The regional management of the corporation features extensive application of linear and functional management.
Such a system provides linear subordination of the corporation’s regional subsidiaries to a united center for regional network management and functional reporting (methodological and technological) to operating units of the central (main) office.
3. Advertising and marketing communications management
URALSIB’s marketing is performed through a centralized corporate marketing service. The corporate brand and services are promoted countrywide through a three-tier communications system. The key principle of the corporation’s communications strategy is planning and implementation of advertising activities based on detailed analysis of the environment and competition. The first tier corresponds to countrywide image-forming communications for general promotion of the URALSIB brand. The objective of communications at this tier is to create the corporation’s image as a large and reliable countrywide financial partner. Promotion of the Corporation’s products on the federal level is done at the second tier of communications. The key objective is to promote the most demanded products including those with high social value. For instance, within the 2007 advertising campaign the mortgage program was promoted. Consistent advertising support of products and marketing campaigns is provided at the third, regional tier. Advertising communications at this tier are planned based on the current conditions of regional financial markets as well as based on the typical methods of product promotion developed centrally. These methods set baseline standards for local communications.
This advertising communications management system provides integral promotion of the corporate brand and its services on the federal and regional levels while emphasizing the corporation’s prominent role.
4. Customer service quality control
The Corporation constantly undertakes activities aimed at improving customer service quality. Such activities include test purchases, product delivery process analysis, customer claims registration and processing system, etc.
URALSIB Bank has launched a communications project called ‘Quality Red Line’, which is aimed at promoting the Bank as a customer-focused financial institution with the slogan: ‘Our salary depends on your opinion’. This campaign also strives to reduce the number of unvoiced claims. In future it is planned to duplicate the ‘Quality Red Line’ communications project in other businesses of the Financial Supermarket.
5. Brand management by points of contact
In 2006, URALSIB Bank implemented a brand management methodology based on points of contact – a communications channel through which the brand interacts with the environment, i.e. image characteristics, products and services, retail branches, the Internet portal, and call center.
The result of applying this methodology is to set priorities when launching advertising communications, product offering modification, setting standards for customer service, designing the branches, and managing the Internet portal and call center.
In future it is planned to duplicate this method in other businesses of the Financial Corporation.
Economy & Finance
Today, URALSIB Financial Corporation is one of the largest and most reliable financial institutions, offering a full range of financial services to both legal entities and individuals in the Russian Federation.
The banking arm of URALSIB is number five in terms of assets attracted as retail deposits and retail loans issued. The client base grew in 2006 by over 20% to 2,7 million Russian citizens.
The Corporation has been traditionally perceived as a reliable partner on the corporate banking market. The Bank’s strategy aimed at long-term relations and business developments has yielded sound results. By the end of last year, the Banks of URALSIB Financial Corporation served over 200,000 corporate clients and ensured trouble free operation of the national mechanism of investments in the Russian economy and thus helped grow Russia’s GDP.
The Corporation’s sales network has been enhanced with a new and widely demanded product line for Russian small enterprises. URALSIB’s investment banking arm offers a full range of investment and banking services and consistently holds a leading position on the Russian financial market. In 2006, its equity trading volume amounted to RUB 792 billion and its debt trading volume exceeded RUB 246 billion. Bond instrument IPOs of the investment banking arm totaled RUB 27 billion. URALSIB Financial Corporation has over ten years experience of successful asset management. Currently, the total amount of assets under management of the Corporation exceeds a record RUB 100 billion while the total value of net assets of its mutual funds topped RUB 35 billion.
One of URALSIB’s key activities is the implementation of technical renovation of powerhouse industries with the help of large-scale investments in fixed assets through leasing. The total value of property leased to Russian enterprises exceeds RUB 13 billion. URALSIB Insurance Group is in the top ten Russian insurance companies. The Group has 78 branches in all major RF cities. Just like URALSIB Bank, the Insurance Group is a backbone insurance tool for the country as measured by a number of indicators. Currently, the number of running insurance contracts for many types of risk exceeds 1,8 million, over 1,5 million individuals entrust the protection of their property and health to URALSIB Insurance Group, and the total value of insurance premiums tops RUB 13,9 billion. Internationally, the major success of URALSIB Financial Corporation in 2006–2007 was the corporation’s strengthening as a priority Russian partner for leading international financial groups and institutions. In 2006 URALSIB Bank ranked second among leading private Russian banks in terms of the value of trade finance and attraction of interbank loans.
Achievements & Prospects
Over its many years of operation, URALSIB Financial Corporation has been awarded many honorary titles. Among the most significant ones are the Brand of the Year and SuperBrand in 2006. The latter award was granted in two categories: Retail Financial Services and Corporate Financial Services.
Business units of the corporation have been awarded no less significant prizes. The corporation’s retail arm has been recognized by the business community for exceptional achievements in the popularization of quality banking, investment and insurance services. The retail unit won an award from a reputable Expert Ratings Agency For Loyalty to the Financial Supermarket Idea. This award testifies to the corporation’s faithfulness to its mission of improving quality of life by offering customers affordable packages of advanced banking and insurance products.