Standard Life Bank

Ian McAteer, Stuart Bell

The business task was to launch Standard Life Bank, from a standing start the target was to achieve £434m of savings deposits by the end of the financial year.
Agency: The Union, Feather BrooksbankAuthors: Ian McAteer, Stuart Bell

Standard Life Bank

THE BUSINESS TASK

To launch Standard Life Bank, a totally new direct telephone bank, in January 1998.

From a standing start the target was to achieve 434m of savings deposits by the end of the financial year. (Source: Bank of England Licence Submission.)

THE ADVERTISING TASK

Unlike other banks, Standard Life Bank decided to offer Independent Financial Advisors commission on savings deposits, hence opening up a powerful distribution network from day one. From historical evidence it was anticipated that around 70% of business...

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