NDB Bank has always sought to remain true to its commitment to provide an excellent, personalized and best-in-class service offering to clients through its private banking arm – NDB Privilege. In this journey, the bank has consistently ensured to provide a renewed focus in private banking and has thus revamped the current benefits offered. With the diverse products and financial services NDB provides to the bank’s elite clientele, the bank has restructured the Privilege arm in a specific and detail-oriented manner for portfolio management and lifestyle needs, says Gihan Punchihewa, Assistant Vice President, Head of Privilege Banking at NDB.
“The bank’s goal is to deliver the best suited financial solutions and excellence in customer service backed by superior technology and innovation,” added NDB Senior Vice President Personal Banking and Customer Experience Sanjaya Perera.
The bank recently revamped NDB Privilege Banking. What was the rationale behind this?
We not only offer a host of benefits but also curated services. While there are many retail solutions available in the market, NDB Privilege Banking has taken a deep dive to understand customers’ lifestyle and financial requirements and presented services to meet the expectations of our ultra-high net worth customers. Therefore, it can be likened to calibration or fine-tuning exercises to stay current with our offering.
What is the value proposition and promise behind NDB Privilege Banking?
Looking back, the bank has always maintained a strong focus on private banking and today, NDB is a dominant player in the industry when it comes to the private banking space. Our value proposition is mainly seen through the constant revamping of our offerings in order to keep up with the emerging market trends and our efforts to ensure that our clientele enjoys detail-oriented, exclusivity.
Our latest efforts via NDB Privilege Banking reaffirm our promise to customers with the inclusion of novel solutions. In this dynamic private banking space, we hope to stay current in line with international standards and local market offerings. Our benefits are designed to suit customer lifestyles and their financial requirements, which is how we have come up with the new services that we hope to introduce while also revamping our existing services taking private banking yet another step higher.
Currently, NDB’s Privilege Banking footprint covers the entire branch network of 113 branches in Sri Lanka, while also catering to a host of offshore clientele based in the UK, US, Australia, Canada, India, Singapore and the Middle East.
And what makes it peerless compared to what other banks offer?
NDB is the largest financial conglomerate in the country. We have unique capabilities that other commercial banks may not possess. For example, the NDB group has access to the securities market through NDB Securities and capital markets through NDB Investment Bank, as well as unit trusts and wealth management through NDB Wealth Management. We have a plethora of services within the NDB group and plan to extend these services to our banking clients.
Using this group strength, we also want to provide advisory services to our clients not only in relation to banking but to meet all their financial needs, be it securities, wealth management or capital markets, thereby creating a unique advantage.
We will also provide international-level services hitherto inaccessible in the market through concierge services and introduce curated lifestyle insurance services via global partners, which will be extended by way of NDB Privilege Banking.
We understand that our customers may be at a stage in their lives where they have achieved a degree of self-actualization and want to give back to society, and NDB Privilege Banking will give them an opportunity to contribute to our partner charities whilst ensuring greater accountability through NDB Privilege philanthropy services.
How does one become an NDB Privilege customer, and what other services and benefits do you offer?
NDB Privilege has three tiers: Privilege, Privilege Select and Privilege Select Plus, which is offered on an invitational basis. The benefits and features are tailored to each of these customer tiers.
These include exclusive concierge services to meet global and local lifestyle requirements; financial advisory services as a one-stop solution for all investment advice in partnership with the bank’s group companies; enhanced lending facilities to meet complex borrowing requirements; a quarterly newsletter with macroeconomic, investment coverage and emerging themes in banking and finance, as well as exclusive life and health benefits with international service providers.
Additionally, NDB’s Privilege clientele can enjoy estate planning advisory, loyalty programs and philanthropy services. NDB’s Privilege clients will also receive priority service across the group network, and exclusive benefits in the form of family banking and digital services among a wide range of additional services specifically designed for their ease and comfort.
How is NDB Privilege Banking synced with the core objectives of the bank?
The bank’s goal is to deliver the best suited financial solutions and excellence in customer service, backed by superior technology and innovation. NDB’s new brand positioning ‘The Future is Banking on Us’ will continue to redefine the service we provide for the convenience of our customers.
We have the largest private banking clientele in the industry and we’ve had a strong historical focus on private banking. Moreover, we constantly revamp and evolve our offering to stay current with our customers’ lifestyles and financial needs. Having understood that customers’ lifestyles have changed drastically post-Covid, we want to offer services, advice, products and solutions that will meet their new needs, and we’re doing this by revamping and providing a specific offering to meet their expectations in order to become the banking group of choice.