Driving Mortgage Strategy 2021

Driving Mortgage Strategy 2021


This report provides insight into a selection of successful mortgage players globally. This includes a deep-dive analysis of five lenders in four countries, examining what each player did to improve their mortgage proposition over at least a decade and how successful their efforts were.

We also outline the key strategic initiatives of each provider and their effect on the lenders overall performance.

With the emergence of sustained low interest rates in the early 2010s, combined with the later advent of digital challenger banks all around the world, incumbents are facing a race to digitally transform themselves to secure their position in the mortgage market. However, while many have only recently woken up to this issue, a few select banks realized this much earlier. We have therefore released this report on the best mortgage propositions around the world to see what these banks did to be successful, how early they changed, and what their motives were. Banks have been chosen based on strong evidence of continual, organic growth in their mortgage market share, supplemented by other factors such as profitability, costs, net interest margins, and benchmarked performance in all parts of retail banking.


- Given the range of banks chosen, in terms of size, corporate culture, geography, wealth, and specialty, most banks have pursued remarkably similar policies at surprisingly similar times.
- Banks were quick to connect to new, digital channels. Most were keen not only to use online and mobile banking, but also connect via alternative channels such as instant messaging, social media, and sometimes through digital partners.
- Most banks created mutual incentives for their customers in the form of product advantages for both parties.
- These advantages, such as better margins or time-saving features, made it easier and more worthwhile for banks and customers to do business with each other.

Reasons to Buy

- Gain insight into what the most successful mortgage players globally have done to succeed.
- Learn about how these improvements have helped lenders solve existing problems and achieve higher profits and lower costs.
- Compare the performance and strategic direction of your firm against competitors.

1. Executive Summary
1.1. Market overview
1.2. Key findings
1.3. Critical success factors
1.4. Competitor overview
2. DBS
2.1. DBS has been the strongest mortgage performer in Singapore over the past decade
2.2. Channel improvements were an early focus for DBS
2.3. Digital channels were strengthened in anticipation of customer behavior
2.4. DBS also embraced new ways of using data to tailor products, increase customer satisfaction, and drive sales
2.5. DBS later focused on a customer-centric design as well as threats to its business
3. ING Slaski
3.1. ING Slaski has grown steadily since 2010
3.2. ING has taken a gradualist approach to change
3.3. ING pursued the challenger bank strategy years before it was cool
3.4. INGs continual update strategy has kept it technologically ahead for years
3.5. ING Slaski is a great model for digital challengers and smaller banks to follow
4. Santander Bank Polska
4.1. Over the last decade, Santander Bank Polska has risen to become number three in Poland
4.2. Early Bank Zachodni was a strong innovator but struggled to keep up with Polands growing market
4.3. Early Zachodni WBK also pursued a strategy of mutually beneficial incentives
4.4. Bank Zachodnis mergers with Santander and Kredyt Bank took time to manage
5. Nykredit Bank
5.1. Nykredit has held its own in a very competitive market
5.2. The bank has targeted full-service customer acquisition and retention over profitability
5.3. Early Nykredit focused on improving its conventional and digital channels
5.4. Nykredit also worked on building a financial ecosystem to retain customers
5.5. Nykredit has continuously worked on cost efficiency through digitization and automation
6. UnionBank of the Philippines
6.1. UnionBank has gained a foothold in a rapidly changing market
6.2. UnionBanks aim has been to reach out to brand new customers by extending and updating its channel structure
6.3. UnionBank has also been busy digitizing and automating its proposition
6.4. UnionBank has fostered innovation and an entrepreneurial culture using co-creation with stakeholders
6.5. UnionBank made it easier for customers and the bank to do business with each other
7. Appendix
7.1. Abbreviations and acronyms
7.2. Secondary sources
7.3. Further reading
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List Of Figures

Figure 1: DBS has organically grown its mortgage market share over the last decade
Figure 2: DBS has outperformed the larger market in all but retail deposits over the last five years
Figure 3: DBS key strategic initiatives
Figure 4: DBS was one of several banks to instigate a grand plan for transforming the business
Figure 5: DBS concentrated on improving its branch and digital channels early on
Figure 6: DBS would later see more digitization, more product launches, and a greater focus on customer outcomes
Figure 7: ING Bank Slaski has grown from a small player to the fourth-largest bank in Poland, with increasing speed
Figure 8: ING Slaski has outperformed the wider Polish market since 2014, particularly over personal and mortgage loans
Figure 9: ING Slaski key strategic initiatives
Figure 10: ING made small improvements to its physical channels and gave incentives to boost cross-selling
Figure 11: ING later focused on improving its internal and customer-facing digital capabilities
Figure 12: More recent improvements for ING have been almost entirely digital
Figure 13: Instead of relying solely on their emerging digital channels for acquiring customers, ING adapted physical channels for more popular areas
Figure 14: Santander Bank Polska has managed to integrate their acquisitions and keep growing for most of the past decade
Figure 15: Santander Bank Polska has also outperformed the wider market in every sector but credit cards for the last few years
Figure 16: Santander Bank Polskas key strategic initiatives
Figure 17: Early Bank Zachodni WBK was a strong innovator but struggled to keep up with the market
Figure 18: The pace of innovation slowed after the takeover from Santander
Figure 19: Santander has more recently concentrated on its digital and multi-channel capabilities
Figure 20: Santander Polska has been late to the digital transformation party but is hoping to catch up
Figure 21: Nykredit has performed well in a competitive market and beaten its rival Danske Bank into second place
Figure 22: Nykredit has managed to grow, albeit not as quickly as some players, in a mature, Western market
Figure 23: Nykredit key strategic initiatives
Figure 24: Nykredit focused mostly on updating and extending its distribution channels
Figure 25: During 2012 to 2014, Nykredit updated its strategic direction, forming a blueprint for their later ecosystem
Figure 26: Nykredit later spent time creating an ecosystem to retain customers
Figure 27: Nykredit groups updated strategy to help expand and create cross-selling opportunities between Nykredit and co-operative mortgage provider Totalkredit
Figure 28: UnionBank of the Philippines has grown its market share in a fast-growing market
Figure 29: UnionBank has concentrated on building their personal and mortgage lending portfolio
Figure 30: UnionBank of the Philippines key strategic initiatives
Figure 31: Most early changes were focused on improving channels and internal operations
Figure 32: Channel and internal changes remained UnionBanks drive throughout the decade
Figure 33: More recent channel changes, however, have involved greater use of mobile banking and distributing ledgers to partner with rural banks

Driving Mortgage Strategy 2021

Driving Mortgage Strategy 2021This report provides insight into a selection of successful mortgage players globally. This includes a deep-dive analysis of five lenders in four countries, examining what each player

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