Made-to-measure products and services for migrant customers

Objective:
  • Become the leader in the migrant bank customer segment in France.
Priority:
  • Ensure customer account managers in French branches correctly assimilate and promote the Group's "Your Bank: Here & There" strategy.
2008 highlight:
  • European Business Award for the Group's "Your Bank: Here & There" product and services offering
Société Générale's "Your Bank: Here & There" service targets France's migrant bank customers which are currently estimated at approximately 5 million individuals.
Tailored to foreigners residing in France, the service was designed and developed thanks to the presence of the bank in those countries with the highest flows of migrants to France. The "Your Bank: Here & There" service draws on the synergies between Société Générale's French retail network and its and the subsidiaries that are part of its Retail Banking Outside France division.
The principle behind the offer is that customers benefit from the banking services of two entities, one "here" and the other "there" :
"Here", for the day-to-day needs of customers in France (current account, bank card for payments or withdrawals, remote banking services (voice or internet) and bank details for direct debits, etc.),
and "There", for any products or services needed in the country of origin since most migrants still have very strong links (transfers, access to banking services, real estate loans, etc.).
The services offer covers all of the specific needs of the bank's migrant customers, notably:
  • money transfers, at amongst the lowest rates on the market (between € 5 and € 10 per transaction for Senegal, Morrocco and Tunisia whatever the amounts involved) to help family members that still reside in the customer's country of origin or for savings; *
  • the possibility of opening a bank account with a subsidiary when in France;
  • real estate loans to finance an investment in the customer's country of origin which are based on their income in France;
  • death/repatriation insurance for migrant customers that wish to be buried in their country of origin and who are worried that they will not be able to cover the cost.
Adapted structures
All of Société Générale's network branches offer this service and, to further assist potential clients, the Group has adapted certain structures accordingly:
---------------------------------
* Verified by Ernst & Young (see Statutory Auditors' Report )