RBS 2004 Annual Report Download - page 25

Annual Review and Summary Financial Statement 2004
Divisional review
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 A new system of screen prompts enables
our branch and telephone banking staff to identify
products or services that are directly relevant to
our customers’ financial needs. These prompts help
us to spot ways of saving our customers money –
one customer in four has expressed interest in
pursuing the conversation.
Products
 Our new Offset Banking Service allows both
NatWest and Royal Bank of Scotland customers
to set their current and savings account balances
against a mortgage. This saves interest and shortens
the life of the mortgage. Unlike other banks, we
offer the Offset Service to small businesses as well
as personal customers.
 Over 70,000 customers have signed up for
the Royalties Premier Account, which combines all
the features of a current account with a range of
services to save them time and money. The benefits
include a personal travel adviser, home emergency
service, worldwide family travel insurance and
discounts on a wide range of books, DVDs,
restaurants and financial services.
 Customers can now top up their mobile
phones through our 4,600 NatWest and Royal Bank
of Scotland ATMs. Customers simply insert their
cash card and select the “mobile phone top-up”
option to credit their prepay phones. 1.2 million
transactions have taken place since the service
was launched in April 2004.
Business customers
 We helped our business customers to
grow with total lending up 11% in 2004. Customer
balances in our competitive range of deposit
products grew by 7%.
 The Flexible Business Loan, launched in
August, is a market-leading product which allows
customers to customise their loan. They can pick the
options that suit them best at the start of the loan,
and then change them if their circumstances alter.
 NatWest and Royal Bank of Scotland lent
£546 million last year to small businesses based
in the most deprived areas of the UK.
 Mentor, our small business advice service,
saw a 49% increase in net income. Significant
improvements in our service offering and stronger
relationships with our Business Relationship Manager
networks helped to increase our customer base
by 44%.
 Royal Bank of Scotland’s Agricultural Services
team have offered their general farm insurance
product in conjunction with Farmweb insurance
brokers for their first full year during 2004. This
product can be tailored to meet the individual needs
of farm businesses under one policy, including an
increasing range of diversification activities.