Bankinter analysis

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The case begins with Ana Peralta,(Director of the Internet Network at Bankinter) analyzing the success of Bankinter’s foray into e-banking through a progressive portalization strategy executed through E-collaborator. This approach was a great success for the Bank nearly doubling the number of new clients with lower costs involved. Riding on this positivity, their stock doubled within a month! There was no doubt that the success of the internet business was vital to the stocks as well as the growth and strategies of the financial services provider.

The small national independent banking organization was soon able to position itself as a futuristic innovative multichannel low cost provider
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Furthermore, it’s competitors began to infiltrate these sites vigorously, by buying over portals for lump sum amounts of money.

While Bankinter did attain numerous customers through the Alliance approach, the costs of customer acquisition were too high to be justified. Hence, they terminated this process and shifted towards a program they called “e-collaborators”. This time, Bankinter placed banners on websites that linked users to directly. They displayed banners on any highly trafficked website that would agree to display it, regardless of that websites content. While this too was a success, it had a few drawbacks. People started opening accounts, but did not complete the entire process. They found a lack of customer interest level. The process of acquisition wasn’t up to mark and customers did not find any incentives to complete the process. Also, the program did not target the segments of market that would be most valuable to the company.

Bankinter’s internet acquisition strategy, as it can be seen through reading the case study, has evolved over a period of time. The strategies that they implemented, of course, had their issues, but they both also had their strengths. While this idea did not play out as well as Bankinter had hoped in practice, in theory, it was a strong idea. To have a web page within another well-known, prestigious web
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