Abstract
Finaccord' s report titled Affinity and Partnership Marketing in UK Mortgages
and Savings Accounts represents the most detailed research ever undertaken on
this sector and is one of seven studies in a new series of publications.
Drawing on the results of a survey of 2,500 organisations, the report analyses
the penetration, operating models and partner market shares of affinity and
partnership marketing schemes for mortgages and savings accounts across a
range of distributor categories.
These include charities, estate agents, football clubs, friendly societies,
insurers, Internet, media and telecoms entities, on-line aggregators and
brokers, on-line price comparison providers, professional associations,
retailers and trade unions. Moreover, the PartnerBASE™ database that
accompanies the report provides the granular detail behind the analysis,
detailing each of the more than 300 affinity and partnership marketing
initiatives traced by Finaccord in this sector.
You may be able to use this report and associated PartnerBASE™ database
in one or more of the following ways:
- drill down into the detail lying behind affinity and partnership marketing
schemes for mortgages and savings accounts in the UK;
- gain access to research that chronicles the vast majority of affinity
marketing opportunities in mortgages and savings accounts;
- benchmark the competitive position of your own organisation in affinity and
partnership marketing of mortgages and savings accounts and spot opportunities
for displacing rivals;
- gain a wider perspective from learning about recent innovations in
partnership marketing of banking products in continental Europe and Ireland;
- plan your future affinity and partnership marketing strategy for mortgages
and savings accounts armed with the best market and competitor intelligence
available on this subject.
Table of Contents
0.0 EXECUTIVE SUMMARY
- Research background and structure
- Examples of partnership marketing of mortgages exist across many affinity
sub-categories
- … with the vast majority of initiatives identified adhering to a
brokerage operating model
- … and with only the Britannia, among actual mort. lenders, holding
a significant number of ties
- Although fewer in number, affinity savings accounts are also offered by a
variety of partner types
- … with successful examples extending beyond the trad. territory of
charities and football clubs
- The rising use of on-line aggregation and price comparison services
presents a major challenge
- … and there is scope for comparing developments in the UK with
those in continental Europe
1.0 INTRODUCTION
- Finaccord
- UK affinity and partnership marketing publications
- Other UK consumer research publications
- PartnerBASE™
- Definitions
- Rationale
- The channels used to distribute financial products and services in the UK
continue to proliferate
- … with on-line affinity and partnership marketing having growing
rapidly in importance of late
- Methodology
2.0 MARKET OVERVIEW
- Affinities and partnerships in UK mortgages and savings accounts
- Finaccord' s research identifies almost 200 current affinity schemes for
promoting mortgages
- … with most intermediated by an aggregator or broker rather than
placed with an actual lender
- The research also extends to 135 partnership marketing initiatives for
savings accounts
- … over 60 of which are attributable to the football club
sub-category
3.0 NOT-FOR-PROFIT AFFINITY GROUPS
- 3.1 Charities
- Introduction
- Analysis of partnerships
- Just two charities have any involvement in the provision of mortgages to
their supporters
- … although affinity savings accounts are widespread among both
local and national charities
- intune' s main target market is the affluent over-50 age group served by
Saga
- … and the company is interested in working with suppliers that
fulfil a variety of criteria
- intune is employing a multi-channel distribution strategy including the
charity' s high street outlets
- … as it seeks to reach an operating profit of £15 million
per annum by 2012
- 3.2 Professional associations
- Introduction
- Over 50 professional associations possess in excess of 5,000 individual
members
- Analysis of partnerships
- The vast majority of professional associations offering motor insurance
do so through a broker
- … with Parliament Hill having expanded its roster of member
benefits clients to 11 associations
- A further seven brokers are active in organising mortgages on an
affinity basis to this audience
- Very few professional associations have chosen an accredited provider of
savings accounts
- 3.3 Trade unions
- Introduction
- Analysis of partnerships
- The Britannia has secured three exclusive mortgage distribution deals
with trade unions
- … although a majority of unions collaborate with brokers rather
than the lenders themselves
- Several trade unions hold well-established links with a dedicated
provider of savings accounts
- 3.4 Other not-for-profit affinity groups
- Introduction
- Lifestyle organisations
- The Listed Property Owners Club is affiliated to Professional Mortgage
Services for mortgages
- Political parties
- Members of Plaid Cymru benefit from being able to access a dedicated
credit union
4.0 FINANCIAL PARTNERS
- 4.1 Banks
- Introduction
- Analysis of partnerships
- Citibank, through its partnership with Charcol, is unique in adopting a
mortgage broking model
- 4.2 Building societies
- Introduction
- Analysis of partnerships
- The Hanley Economic remains the only building society to have shifted to
a brokerage model
- 4.3 Credit unions
- Introduction
- Three Scottish credit unions offer mortgages to their members, one
through a brokerage unit
- 4.4 Friendly societies
- Introduction
- Analysis of partnerships
- Friendly society involvement in mortgage lending is currently restricted
to a handful of initiatives
- Police Mutual' s Premier Cash Account is offered in conjunction with
Anglo Irish Bank
- 4.5 Insurance companies
- Introduction
- Analysis of partnerships
- Four insurance companies intermediate mortgages through their own
mortgage broking unit
- 4.6 On-line aggregators and brokers
- Introduction
- Analysis of partnerships
- Charcol and Moneysupermarket.com each lay claim to a brace of external
relationships
- … although a clutch of other entities are also active in
providing searching facilities to this sector
- For savings, only Moneysupermarket.com and The Motley Fool act as
external partners
- 4.7 Specialised lenders
5.0 COMMERCIAL ENTITIES
- 5.1 Automotive associations
- Introduction
- Analysis of partnerships
- The partnership between the csma and LV= has been in place for over 80
years
- 5.2 Automotive dealers, repair shops and supermarkets
- Introduction
- Analysis of partnerships
- Many automotive dealerships owe their survival to revenues derived from
financial services
- … although with one significant exception, mortgages do not enter
the equation
- 5.3 Automotive manufacturers
- Introduction
- Analysis of partnerships
- The savings products launched by BMW with the Newcastle add up to a
significant development
- The new products are designed to re-enforce customer loyalty to the BMW
brand
- BMW' s affinity marketing partners were selected for three main reasons
- 5.4 Cricket and rugby clubs
- Introduction
- Analysis of partnerships
- Affinity savings accounts marketed through cricket and rugby clubs are
relatively few
- … albeit both cricket and rugby attract sponsors from the
financial services sector
- 5.5 Estate agents
- Introduction
- Analysis of partnerships
- Charcol has signed up the largest number of exclusive estate agency
partnerships
- Brokers linked to Legal & General Partnership Services and Openwork are
also numerous
- Most on-line estate agency portals prefer to carry adverts rather than
acting as affinity partners
- 5.6 Football clubs
- Introduction
- Analysis of partnerships
- The number of clubs promoting mortgages on an affinity basis has grown
in recent years
- … with the Britannia having emerged as the main protagonist by
means of links with five clubs
- Almost two thirds of football clubs offer affinity savings accounts to
their supporters
- 5.7 Internet, media and telecoms entities
- Introduction
- Analysis of partnerships
- All entities distributing mortgages in this category have opted for a
brokerage model
- … with five providers having established more than one mortgage
searching deal each
- over50s.com is unique in linking with a bank rather than an aggregator
for its savings account
- 5.8 On-line price comparison providers
- Introduction
- Analysis of partnerships
- A number of on-line price comparison providers offer own-brand mortgage
searching facilities
- … although only three are involved in this activity in the
context of savings accounts
- 5.9 Retailers
- Introduction
- Analysis of partnerships
- A number of the UK' s major retailing brands are being leveraged to
promote mortgages
- … although many more remain reluctant to participate in this
fiercely competitive market
- National Savings & Investments is seeking to diversify into the
retailing distribution channel
- Greenbee will allow the John Lewis Partnership to expand its share of
total client expenditure
- Fit with the values of the John Lewis Partnership has been key to
selection of affinity partners
- 5.10 Other commercial entities
- Introduction
- Branded conglomerates
- Saga and Virgin leverage their brands across the full consumer financial
services spectrum
- Loyalty schemes
- The loyalty schemes category extends to a range of diverse travel and
other reward programs
- … with several offering the chance to earn points through taking
out mortgage loans
- The Post Office
- The Post Office has extended its financial services joint venture with
Bank of Ireland to 2020
6.0 EUROPEAN INNOVATIONS
- Introduction
- Events in affinity and partnership marketing in Europe, 2006 and 2007
- Winter 2006
- Citibank unveils new affinity marketing ventures in Belgium and the Czech
Republic
- UBS launches Swiss charity card with Optimus Foundation
- Banque Accord' s Oney.fr links with on-line hi-tech retailing specialist in
France
- Bank of Ireland ties with La Caixa for Irish consumers buying property in
Spain
- BPU Banca launches InItaly immigrant financial services proposition
- CreditPlus Bank signs distribution deal with Bertelsmann book club in
Germany
- Deutsche Postbank targets lawyers through legal publishing affinity card
- American Express unveils new bank partnerships in Romania and Russia
- Cetelem forms consumer finance joint venture with French building firm
- San Paolo IMI and Veneto Banca tie up commercial affinity group deals in
Italy
- Spring 2006
- CC Bank and Lidl tie for credit card with petrol discount offer in Germany
- ABN AMRO creates partnership with Dorpspunt to grow rural penetration
- Fiditalia and leading technology distributor tie for consumer finance and
card proposition
- Banque Accord and Norauto extend collaboration to private label card
- American Express enters Bosnia-Herzegovina through card issuing deal with
CFU
- Grupo Santander initiates affinity banking link with parliamentary
association
- Through AUTOSCOUT24, Volkswagen secures on-line partner for financial
services
- Banca Intesa and eBay collaborate to target over 500,000 Italian SMEs
- LaSer introduces new affinity cards with automotive repair centre and
football club
- Millennium BCP seals affinity link with economists' institute in Portugal
- CIC establishes tie with OSEO for start-up and small business loans in
France
- Juventus and Banca Popolare Italiana launch pre-paid Kalibra card
- Summer 2006
- Citibank rolls out new airline co-branded credit cards in the Czech
Republic and Hungary
- American Express expands network of banking partners to Serbia and Slovakia
- CGD creates affinity banking deal with Portuguese economists
- Finaref introduces private label card in association with
Téléshopping
- Banca Intesa works with local authority for mortgage designed for
temporary workers
- GE Money Bank ties for on-line finance deal with German arm of Fujitsu
Siemens
- Crédit Agricole links for European automotive finance joint venture
with Fiat
- Groupe Caisse d' Epargne and Carige forge Italian consumer credit joint
venture
- Autumn 2006
- Citibank rolls out new co-branded cards in Greece and Sweden
- Commerzbank launches co-branded card with Steigenberger Hotel Group
- Through GCE Fidélisation, Caisses d' Epargne signs up to S' Miles
loyalty scheme
- HSBC ties with Banco Sabadell unit to serve UK nationals residing in Spain
- Fortis and An Post finalise details of Irish financial services joint
venture
- Rabobank and WNF unveil green affinity credit card in the Netherlands
- MLP forges affinity financial services link with association of dental
students in Germany
- Winter 2007
- Citibank launches new co-branded credit cards in Greece and Hungary
- Landesbank Berlin links with Amazon for co-branded card in Germany
- BBVA' s Barceló Viajes Visa credit card amasses 60,000 clients since
launch
- Santander rolls out affinity banking strategy for affluent foreign
nationals
- Banco Sygma forges loan distribution link with Spanish insurer
- Spring 2007
- LaSer Group initiates a trio of new affinity ventures in France and the
Netherlands
- GE Money Bank and Kia partner for automotive finance joint venture in
Germany
- Citibank and Shell introduce co-branded card in Denmark
- Deutsche Bank ties with pharmacy chain for German consumer credit venture
- Landesbank Berlin introduces two new co-branded cards with media affinities
- UEFA EURO 2008 MasterCard launched by UBS in Switzerland
- Crédit Agricole and OSEO strengthen partnership to serve French SMEs
- Summer 2007
- CGD introduces co-branded card in association with MTV for Portuguese youth
- … inspired by Caja Madrid' s successful program with the same
partner in Spain
- Caja Madrid launches Aquí-Allá debit card for immigrant
market in Spain
- Finaref introduces Madelios private label card with single outlet retailer
in France
- BNP Paribas ties with nine regional mutual insurers serving students
- Citibank launches Russian travel co-branded card through link with Kuda.ru
travel agency
- … and ties with EKO Natural Gas for affinity loans in Greece
- Monte dei Paschi di Siena renews link with Enel to encourage solar power
systems
- Agos and Piaggio form relationship for branded motor cycle finance in Italy
- Banesto concludes affinity financial services partnership with UNICEF in
Spain
- CreditPlus Bank links with T-Online for Internet lending initiative in
Germany
- Commerzbank creates on-line marketing tie with German arm of eBay
- Landesbank Berlin introduces new co-branding schemes with media affinities
- GE Money Bank launches new credit card with leading German technology
retailer
- MLP and Interhyp establish mortgage joint venture in Germany
- Autumn 2007
- LaSer reinforces co-branding activity in France through launch of flagship
card
- BNP Paribas and Orange combine for co-branded card in deregulated French
market
- Go Sport France selects Finaref as partner for financial services
development
- American Express secures Kazakh and Lithuanian bank partnerships
- Citibank introduces new co-branded card with prominent Belgian electricals
retailer
- BNL and Intesa Sanpaolo enter into affinity lending deals for Italian
pensioners
- Santander ties with Portuguese SME trade association for affinity banking
package
- Nordea acquires Stockmann financial services business and targets
international expansion
- Bankinter assumes control of Capital One joint venture with 290,000
customers
- Fiditalia and Zurich launch new revolving co-branded credit card in Italy
- Hypovereinsbank' s FC Bayern SparKarte exceeds 150,000 cards in circulation
- BAWAG PSK injects new momentum into post office bank through a raft of
innovations
GRAPHICS / TABLES
- The affinity and partnership marketing universe
- Entities contacted for the research, segmented by broad category
- Affinity and partnership marketing schemes for mortgages in the UK:
penetration by type of partner
- Affinity and partnership marketing schemes for mortgages in the UK:
segmentation by op. model and comp
- Affinity and partnership marketing schemes for savings accounts in the UK:
penetration by type of partner
- Affinity and partnership marketing schemes for savings accs. in the UK:
segment. by op. model and competitor
- Charities offering mortgages through partnerships
- Charities offering savings accounts: penetration, operating models and
partner market shares
- Charities offering pet insurance: penetration, operating models and
partner market shares
- Ranking of professional associations in the UK by actual or approximate
number of members
- Ranking of professional associations in the UK by actual or approximate
number of members (continued)
- Professional associations offering mortgages: penetration, operating
models and partner market shares
- Professional associations offering savings accounts: penetration,
operating models and partner market shares
- Ranking of trade unions in the UK by actual or approximate number of
members
- Trade unions offering mortgages: penetration, operating models and partner
market shares
- Trade unions offering savings accounts: penetration, operating models and
partner market shares
- Lifestyle organisations offering mortgages through partnerships
- Political parties offering savings accounts through partnerships
- Building societies offering mortgages: penetration, operating models and
partner market shares
- Friendly societies offering mortgages: penetration, operating models and
partner market shares
- Friendly societies offering savings accounts through partnerships
- Insurance companies offering mortgages: penetration, operating models and
partner market shares
- On-line aggregators and brokers offering mortgages: penetration, operating
models and partner market shares
- On-line aggregators and brokers offering savings accs.: penetration, op.
models and partner market shares
- Automotive associations offering savings accounts through partnerships
- Automotive dealers, repair shops and supermarkets offering mortgages
through partnerships
- Automotive manufacturers offering savings accounts through partnerships
- Cricket and rugby clubs offering savings accounts: penetration, operating
models and partner market shares
- Estate agents offering mortgages: penetration, operating models and
partner market shares
- Football clubs offering mortgages: penetration, operating models and
partner market shares
- Football clubs offering savings accounts: penetration, operating models
and partner market shares
- Internet, media and telecoms entities offering mortgages: penetration, op.
models and partner market shares
- Internet, media and telecoms entities offering savings accs.: penetration,
op. models and partner market shares
- On-line price comparison providers offering mortgages penetration, op.
models and partner market shares
- On-line price comparison providers offering savings accounts through
partnerships
- Retailers offering mortgages: penetration, operating models and partner
market shares
- Retailers offering savings accounts: penetration, operating models and
partner market shares
- Branded conglomerates offering mortgages and savings accounts through
partnerships
- Loyalty schemes offering mortgages and savings accounts through
partnerships
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