“Our priority is maintaining a trusting relationship with our customers”

Interview with Yelyzaveta Tymoshenko, Head of Premium Banking Development Department at Credit Agricole Ukraine

What does it take to become a premium customer of the bank and what are the benefits of this status? What is the development trajectory of this segment of banking services in Ukraine and overseas? Which services are the most sought after by Ukrainian premium customers? How has the war affected the financial flows and spending priorities of the banks’ key customers?

– What is Credit Agricole’s interpretation of the premium banking and who belongs to this segment?

– Our understanding of premium banking is more than merely a set of banking products and services, it is a holistic personalized approach to every customer. We aspire to make every customer feel seen and heard and that their needs are satisfied on the highest level. We are pleased that for many affluent customers, premium banking by Credit Agricole has become an integral part of their life.

As for the customers of this segment, these are primarily company owners, who get service with us or other entities of the international Credit Agricole Group. This also includes top managers and high-income employees who use several products of the bank. Indubitably, their requests require individual approach and a wide range of banking instruments, in particular wealth management.

We also refer to this segment as "family banking", as it is quite convenient for customers when the entire family is supported by the same portfolio manager of the bank. When the manager is acquainted with the family and its members, he or she can offer more pertinent advice and foresee their future needs. We always stress the importance of cultivating a trusting relationship with our customers so that they can openly discuss various aspects of their life, their interests, concerns and plans for the future.

I believe that it is the professionalism of our managers that is the deciding factor of whether our customers are satisfied and choose to stay with us. In this regard, I am pleased to point out that over 40% of premium customers remain with us for over 5 years. This, perhaps, is the best testament to the trust towards our premium banking.

– As the war started, many Ukrainians found themselves abroad. Does this fact pose a challenge for the bank? How does the bank manage to support its customers overseas?

– A part of personal and business interests of our premium customers is abroad, such as their children studying in foreign universities, doing business, etc. Therefore, our ambition to offer them the best quality of service both in Ukraine and abroad remains unchanged.

Credit Agricole Group is present in 46 countries. We have a well-established cooperation with our colleagues abroad in the area of private banking in Poland, France, Switzerland, and offer individual support of a personal manager from Credit Agricole Ukraine who can help arrange a meeting with a banker overseas. In Switzerland, our customers can get service as part of the private banking.

As for the premium banking overseas, it entails more complex financial solutions for customers that cover a wide range of services: from the daily banking service to investment consulting and wealth management. The customers can take advantage of capital market instruments, complex insurance products, tax and inheritance advice, which are important worldwide.

Also, our customers abroad use the convenient remote daily banking in the СА+ mobile app. You can open an account there and order premium packages, while the card can be shipped to a customer’s home in Ukraine or abroad, over 220 countries worldwide in total.

Human responsibility is at the heart of Credit Agricole model. We offer our customers the advantages of the remote banking while maintaining human contact via the bank’s premium managers.

– How did the number of premium customers change in the last two and a half years?

– In our case, the external factors barely registered for this segment. On the contrary, we see our portfolio grow, in particular the customer base: by 31% in 2023 and by 15% since the start of 2024. At the same time, the customers have started using banking services more, card transactions turnover has increased due to large migration numbers.

Increased migration is observed both in Ukraine and worldwide. Due to the war, the financial flows have also changed to some extent. People may have started spending more.

Some customers who are business owners have adopted a different way of doing business, the new areas have emerged that were non-existent before. These factors affected the turnover, which started growing, namely for legal entities. I am delighted that we can support the growing business of our customers in such turbulent times and do everything in our power so that the Ukrainian brands become known on the global arena.

– Considering the end of the traditional vacation period, can you do a recap of the most popular travel services offered by your bank? 

– For objective reasons, our customers now prefer vacationing in Ukraine. The most common type of travel abroad is business trips, when women or families go to see their children in cities where the latter do their studies. This way people can combine the opportunity to have a break from the routine of life in Ukraine with some of its restrictions and see their children abroad. Vacations now are not what they used to be before the war.

Generally speaking, services for travelling in comfort remain largely the same. Our premium customers can take advantage of the services of convenience at the airports. We now see that the list of countries is extended with fast track options – a separate line for security control at the airports.

Other services that make travelling and staying abroad more comfortable are also available: lounge areas, airport taxi services, and many others. For convenience, all of them are collected in a separate Mastercard Travel Experiences app. Also, our premium packages already include a EUR 50,000 insurance policy with worldwide coverage, as well as a number of discounts on car rental and hotel accommodation

Now our model of customer support during business trips, holidays and travel abroad is gaining new momentum, as, for example, Boryspil Airport is temporarily closed and we need to understand the entire route of our customers both within Ukraine and abroad. All payment systems in Ukraine are working to facilitate the journey of our citizens at all stages of their travels.

– Which services are the most popular now and the development of which premium services does Credit Agricole emphasize in general?

– Customers seek the most financially advantageous way to withdraw cash abroad. Credit Agricole offers such an opportunity – our customers can withdraw cash from premium cards without any fees. This is a unique offer on the Ukrainian banking market. At the same time, it is more convenient and profitable for the bank's customers to pay with a card, as they can receive cashback and bonuses within the Mastercard programme

“Our customers can open a card remotely and have it delivered to over 220 countries worldwide. We ensure fast delivery – from 4 days – on favourable terms.”

We strive to ensure that our customers can do all their daily banking via the СА+ mobile app, which is among the 3 market leaders based on customer feedback. Certainly, we also offer SWIFT transfers, however they are subject to certain restrictions imposed by the NBU. Currently, most money transfers are made to pay for children's education abroad.

As for the services that Credit Agricole is currently focusing on, we continue to work on making the bank a single point of entry for our customers, where they can get all the necessary advice and counselling from their premium manager.

– What digital services are available to your customers and how can this facilitate interaction with the bank, especially for young people and IT professionals?

–First and foremost, it is daily banking in your phone – the CA+ mobile application. We offer remote account opening, instant digital card issuance, fast money transfers, deposits, online currency purchases, etc.

Customers can make an online appointment with their manager to save time and avoid going to an outlet. Remote communication channels are available: Viber, Telegram, and a dedicated contact center line. Even if a customer finds Discord or Signal more comfortable, our managers will do it.

If a customer would like to resolve issues through our app, we will do so through the app. If a customer prefers personal communication with a manager, we will adapt to their needs.

As for customers from the IT industry, their share is up to 15%. We offer package deals tailored specifically for the IT.

The IT segment is evolving rapidly, particularly in terms of taxation and changes in the industry. The country has offered IT companies the option to register with Diia.City, which opens up new opportunities for development.

– What does the comprehensive solution Code of Trust by Credit Agricole mean in this context? 

– We should be aware that, compared to classic premium customers who can go to a bank outlet and talk to a personal manager, IT pros value independence and are not inclined to have personal contact.

For them, we have a comprehensive Code of Trust solution that meets the needs of both IT companies and the individual needs of developers, accountants, and business owners in Ukraine and abroad. In particular, the improved One Swift service is a convenient way to transfer remuneration to developers from a non-resident company in one payment, which significantly reduces costs for an IT company. Private entrepreneurs can easily and quickly start working with Credit Agricole from anywhere in the world.

Why the Code of Trust? For many years, the bank has been a leader in terms of reliability and resilience. Our customers trust us with their savings by keeping their money with our bank, and we continue to uphold and expand on this principle of trust for the IT segment.

– Can you share the secret of Credit Agricole's success and definitively answer the question why customers come to you instead of other banks?

– The main reason, in my opinion, is that we are a large group with a presence in 46 countries. If a customer needs to open an account abroad, where the group is present, it will be more convenient and pleasant to do so with us. We can help the customer, provide support and advice, as well as connect them with the premium banking team in the country where the customer has interest.

Credit Agricole has been in business for 130 years and has an impeccable and solid reputation. Therefore, all our processes are focused on upholding these top standards. As I have already mentioned, in the current migration process, customers prefer reliable institutions such as our bank.

We are a metaphorical bridge between Ukraine and the world, so customers choose Credit Agricole because it is more convenient for them to communicate in their native language with our manager, explain their needs, and we will then pass this information on to the team in another country. We will provide all the necessary information about the customer and recommendations, which is especially important for entering the premium banking portfolio in another country. As a bank, we act as a provider that facilitates banking services abroad.

– What part does Credit Agricole plan to play in the post-war recovery of Ukraine?

– I am immensely proud of my company and our group. The war has only highlighted our commitment to Ukraine. The Bank is actively involved in the recovery of our country, contributes to its energy independence, and attracts foreign investment to support key sectors of the economy, such as agribusiness.

In addition, the bank donated UAH 147.5 million to charity. We support children's hospitals in Ukraine, purchase high-capacity diesel power generators for orphanages and geriatric facilities, and donate modern medical equipment to regional medical institutions. We have recently implemented the largest charity project in the bank's history in Ukraine. Credit Agricole allocated UAH 45 million for a new neonatal intensive care unit at the Kyiv Regional Perinatal Centre. This is an opportunity to save even more new-borns, even those with extremely low birth weight. This project holds a special place in our hearts because it is about life!

“We take concrete actions to prove that you can always rely on Credit Agricole!”