Title

Developing cross-selling capability in key corporate bank relationships: The case of a Nordic bank

Document Type

Journal Article

Publication Title

Journal of Financial Services Marketing

ISSN

13630539

Volume

25

Issue

3-4

First Page

45

Last Page

52

Publisher

Springer

School

School of Business and Law / Centre for Innovative Practice

RAS ID

32394

Comments

Salo, J., Cripps, H., & Wendelin, R. (2020). Developing cross-selling capability in key corporate bank relationships: The case of a Nordic bank. Journal of Financial Services Marketing, 25(3), 45-52. https://doi.org/10.1057/s41264-020-00076-8

Abstract

© 2020, Springer Nature Limited. This research focuses on the challenges in developing the cross-selling capability of a multinational European corporate bank operating in both the business and consumer markets. An extensive qualitative research design was carried out involving 50 interviews with chief financial officers (CFOs) and bank representatives from four European countries, eight workshops, and participant observation. The barriers to cross-selling experienced by the Bank are specifically: a lack of cooperation within organisational levels and units, non-existent information sharing among employees, underdeveloped internal services for cross-selling, resistance to change, and outdated CRM systems are identified as the five major internal challenges that banks have to cope with. Corporate customers however perceive that the five major challenges that inhibit the corporate banks’ ability to provide better services and to properly exploit cross-selling capability are: the lack of cross-asset management, inability to sell cross-asset services, fragmented organisational structure, the lack of sufficient internal marketing and communication, and lack of knowledge sharing. This study identifies ten major challenges—five that deal with the Bank’s internal personnel, and five identified by key corporate customers—that are essential to overcome to better address cross-selling efforts.

DOI

10.1057/s41264-020-00076-8

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