the document - Crédit Agricole Consumer Finance

COMMITTED TO OUR PARTNERS
AND THEIR CUSTOMERS
FURNITURE
ELECTRICALS
2014
LANDMARKS
C
A
R
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BANK
BANK
NEW
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DIY
Tools
1_
OTHER SPECIALISED SUBSIDIARIES:
Crédit Agricole Capital Investissement & Finance
(Idia, Sodica), Uni-éditions
PAYMENT
SYSTEMS
SAVINGS MANAGEMENT
AND INSURANCE
RETAIL BANKING
IN FRANCE
· CRÉDIT AGRICOLE
CARDS &
PAYMENTS
· FIA-NET
LCL
CRÉDIT AGRICOLE
ASSURANCES
· AMUNDI · CACEIS
· CA PRIVATE
BANKING
39 REGIONAL
BANKS OF
CRÉDIT AGRICOLE
INDIVIDUALS
LOCAL AUTHORITIES
FARMERS
INSTITUTIONALS
SMALL BUSINESSES
CORPORATES
CRÉDIT AGRICOLE
CIB
· GRUPPO
CARIPARMA
CRÉDIT AGRICOLE
· CA BANK POLSKA
· CA EGYPT
· CRÉDIT DU MAROC
· CA UKRAINE
· CA SRBIJA
· CRÉDIT AGRICOLE
CONSUMER FINANCE
· CRÉDIT AGRICOLE
LEASING &
FACTORING
CORPORATE
AND INVESTMENT
BANKING
CRÉDIT AGRICOLE
IMMOBILIER
SPECIALISED
FINANCIAL SERVICES
INTERNATIONAL
RETAIL BANKING
REAL ESTATE
BUSINESSES
A presence
in 21 countries
Crédit Agricole
Consumer Finance
France
LOCATION:
France
OUTSTANDINGS: €24,898
million
HEADCOUNT: 3,268
Agos Ducato
LOCATION:
Italy
Wafasalaf
LOCATION:
Morocco
SHAREHOLDING STRUCTURE:
49% CA Consumer Finance,
51% Attijariwafa Bank
OUTSTANDINGS: €2,393 million
HEADCOUNT: 616
FCA Bank
Austria, Belgium,
Denmark, Finland, France,
Germany, Greece, Ireland, Italy,
Netherlands, Poland, Portugal,
Spain, Sweden, Switzerland,
United Kingdom
LOCATION:
SHAREHOLDING STRUCTURE:
CreditPlus Bank
Germany
SHAREHOLDING STRUCTURE:
LOCATION:
61% CA Consumer Finance,
39% Banco Popolare
OUTSTANDINGS: €15,872 million
HEADCOUNT: 2,000
SHAREHOLDING STRUCTURE:
100% CA Consumer Finance
OUTSTANDINGS: €2,338 million
HEADCOUNT: 484
50% CA Consumer Finance,
50% Fiat Chrysler Automobiles
OUTSTANDINGS: €15,304 million
HEADCOUNT: 1,864
GAC Sofinco
LOCATION:
Crédit Agricole
Consumer Finance
Nederland
LOCATION:
The Netherlands
SHAREHOLDING STRUCTURE:
100% CA Consumer Finance
OUTSTANDINGS: €2,946 million
HEADCOUNT: 329
Credibom
LOCATION:
Portugal
SHAREHOLDING STRUCTURE:
100% CA Consumer Finance
OUTSTANDINGS: €1,084 million
HEADCOUNT: 333
Credicom Consumer
Finance
LOCATION:
Greece
SHAREHOLDING STRUCTURE:
100% CA Consumer Finance
OUTSTANDINGS: €193 million
HEADCOUNT: 90
Credium
Czech Republic
and Slovakia
LOCATION:
SHAREHOLDING STRUCTURE:
100% CA Consumer Finance
OUTSTANDINGS: €126 million
HEADCOUNT: 65
China
SHAREHOLDING STRUCTURE:
50% CA Consumer Finance,
50% GAC
OUTSTANDINGS: €2,671 million
HEADCOUNT: 376
Forso Nordic
Denmark, Finland,
Norway, Sweden
LOCATION:
SHAREHOLDING STRUCTURE:
50% CA Consumer Finance,
50% Ford Group
OUTSTANDINGS: €982 million
HEADCOUNT: 117
A key provider
of consumer credit
Crédit Agricole Consumer Finance is a leading player in the European
consumer credit market. With a wide range of flexible, responsible and
made-to-measure solutions for its partners and customers, the company
caters to consumer expectations and helps bring their plans to life.
CA Consumer Finance provides a personalised approach to consumer
credit for Crédit Agricole Group retail banks, enabling them to extend
their reach and reply to customer needs.
Figures at end 2014
Service quality, partner and customer satisfaction, innovation and
operational efficiency are at the core of CA Consumer Finance’s strategy.
Foundations that ensure competitivity within the marketplace.
€69 9,540 €2,104
billion
in outstandings
employees
million
in net banking income
1_
“Committed to our partners
for joint success in addressing
the business challenges
of the digital world”
T W O - W AY I N T E R V I E W
WITH CHAIRMAN
BRUNO DE LAAGE
AND CHIEF
EXECUTIVE OFFICER
P H I L I P P E D U M O N T.
Bruno de Laage,
Deputy Chief Executive Officer of Crédit Agricole S.A.,
responsible for Retail banking in France, Specialised financial
services and Group Payments and Chairman of CA Consumer
Finance Board of Directors
2_
Philippe Dumont,
Group Chief Executive Officer
of CA Consumer Finance
CA CONSUMER FINANCE APPLIES ITS PROCESS EXPERTISE AND
KNOWLEDGE TO HELP ITS PARTNERS GROW THEIR BUSINESSES.
IT RESPONDS TO THE NEW EXPECTATIONS OF THEIR
CUSTOMERS THROUGH INNOVATION AND DIGITAL TECHNOLOGY.
With Crédit Agricole Consumer
Finance well and truly back
to profitability, what is your
assessment of 2014?
Bruno de Laage: CA Consumer
Finance delivered an excellent
performance in 2014. Net income group
share was up by 46% to break through
the €200 million barrier, despite some
one-off negative influences.
New business was 1.3% higher. In Italy,
Agos Ducato confirmed its recovery.
The cost of risk improved further in all
our entities, with costs remaining under
tight control, which together enabled
CA Consumer Finance to report an
operating ratio amongst the lowest
in the market.
At 59%, our self-financing rate
continued to improve. The liquidity
coverage ratio (LCR) is already well
above the level that will be required
under Basel III.
CA Consumer Finance has the solid
fundamentals needed to grow its
business and relaunch consumer credit
within the Crédit Agricole Group.
Where are you now in the process
of implementing your Focus
strategic plan?
Philippe Dumont: We’ve made real
progress in every aspect of our plan.
CA Consumer Finance is continuing
the process of diversifying its
refinancing structure, with the emphasis
on its securitization program and deposits
via the European Passport system.
Insurance is consolidating its status
as the second-largest CA Consumer
Finance business line. Every entity
has prepared its roadmap to achieve
this goal.
CA Consumer Finance continued to
invest in digital technology, with the
launch of innovative solutions for
its partners, including a fully digital
€200
million in
net income group
share: up 46%
versus 2013
1.3%
increase
in new business,
compared
with 2013
59%
self-financing
rate in 2014 tablet credit application for a leading
technology retailer in France, Italy
and Germany, and an online electronic
signature system for La Redoute.
Synergies with the Crédit Agricole
Group were also enhanced during
the year.
New business generation on behalf
of Group banks rose by 9.3% in 2014.
Our insurance business also grew
in partnership with Crédit Agricole
Creditor Insurance. In addition,
CA Consumer Finance provided
the Crédit Agricole Group with its
expertise in big data, securitization
and overindebtedness prevention.
How is CA Consumer Finance
contributing to the relaunch
of consumer credit within the
Crédit Agricole Group?
B. de L.: CA Consumer Finance has
identified a series of initiatives that will
deliver an improved response to the
expectations of Crédit Agricole Group
customers by rethinking the services
offered, and by rethinking services
and by expanding our support
with enhanced solutions that are
personalised, modern and modular,
and with an optimised process that
is truly multichannel.
Today, 32 Regional Banks have either
introduced, or plan to introduce, the
new CA Consumer Finance-developed
Conso 2.0 distribution solution to
expand their consumer credit business.
The first six Regional Banks to do so
have seen new business rise by
between 27% and 63%.
What are the CA Consumer Finance
business development priorities
with its various partners?
Ph. D.: We provide our partners
with our expertise in the regulatory
environment, digital technology and risk
management to support them in all the
countries where we operate.
We contribute to growing their sales
by helping to launch new offers,
by enabling them to make sales
and by increasing the average spend
of their customers. We help them to
simplify and improve their customer
relationships through process
digitalisation.
Automotive finance - one of our core
strengths through lead partners such
as Fiat Chrysler Automobiles and Jaguar
Land Rover - is a decisive factor
in the vehicle buying decision.
That’s why we work closely with
our partners to develop competitive,
innovative finance and warranty offers.
How do you plan to further
reinforce your relationships
with customers?
Ph. D.: The satisfaction of our
customers is our first priority. We
monitor and manage that using a
customer recommendation index that
we have measured every year since 2012,
both in overall terms and at key stages
in the customer relationship.
In 2015, we will continue to drive
innovation forward and simplify the
experience of our customers by offering
them a seamless omni-channel journey.
Digital technology is a key component
of this commitment, but it is not the
only one. The expertise of our teams is
essential in ensuring that borrowers
receive the best-possible advice.
Team professionalism and engagement,
together with our process expertise,
will again be the central business
development strengths that we offer
our partners in 2015.
3_
Governance
BOARD
OF DIRECTORS
HEADS
OF ENTITIES
(1ST APRIL 2015)
(1ST APRIL 2015)
Chairman Director
Directors
Bruno de Laage,
Deputy Chief Executive Officer
of Crédit Agricole S.A.,
responsible for Retail banking
in France, Specialised financial
services and Group Payments
Jacques Boyer,
Chairman, Caisse régionale
of Crédit Agricole Languedoc
Vincent Delatte,
Deputy Chairman, Caisse
régionale of Crédit Agricole
Champagne-Bourgogne
Nicolas Denis,
Head of Technology and Banking
Services of LCL
Marc Deschamps,
Chief Executive Officer, Caisse
régionale of Crédit Agricole
Centre France
Henri Le Bihan,
Chief Executive Officer, Crédit
Agricole Creditor Insurance
Giacomo Carelli,
FCA Bank
Amir Djourabtchi,
Credibom (Portugal)
Philippe Genon-Catalot,
Credicom Consumer
Finance (Greece)
Jean-Gaston de Lassus,
Crédit Agricole Consumer
Finance Nederland (Netherlands)
Laïla Mamou,
Wafasalaf (Morocco)
Dominique Pasquier,
Agos Ducato (Italy)
François Macé,
Chief Executive Officer, Caisse
régionale of Crédit Agricole
Nord de France and Chairman
of CA Consumer Finance’s Audit
Committee
Stéphane Priami,
Crédit Agricole Consumer
Finance (France)
Philippe Marié,
Chief Executive Officer, Crédit
Agricole Bank Polska
Roman Štipák,
Credium (Czech Republic
and Slovakia)
Bruno Tardieu,
Chairman, Caisse régionale of
Crédit Agricole Centre Ouest
Jan W. Wagner,
CreditPlus Bank (Germany)
Benoît Albert,
Employee-elected Director
4_
Jean-Philippe Boghen,
Forso Nordic (Denmark,
Finland, Norway, Sweden)
Gilbert Ranoux,
GAC Sofinco (China)
Bernard Manuelli,
Head of International
Automotive Partnerships
GROUP EXECUTIVE
COMMITTEE
(1ST APRIL 2015)
Philippe Dumont,
Group CEO
Pierre Adam,
Head of Subsidiaries
and Investment
Dominique Pasquier,
CEO of Agos Ducato (Italy)
Stéphane Priami,
CEO of Crédit Agricole
Consumer Finance France
Jan W. Wagner,
CEO of CreditPlus Bank
(Germany)
Véronique Goutelle,
Head of Group Human
Resources
Christophe Grave,
Deputy CEO, General
Secretary and Group Credit
Jérôme Hombourger,
Deputy CEO, Group
Development and Strategy
Joao Miguel Leandro,
Head of Business Units
and Corporate Center
Guillaume Lesage,
Deputy CEO, Group Support
and Finance
CA Consumer Finance works hand in
hand with Crédit Agricole Group’s retail banking
networks and their distribution partners to grow
their sales. Our expertise is key for this business
line as we provide the entire value chain.
Stéphane Priami,
CEO - Crédit Agricole Consumer Finance France
Satisfying our partners is embedded
within our DNA. Our special know-how
accompanies car dealerships
and manufacturers at every stage
of the customer experience.
Bernard Manuelli, Head of International Automotive Partnerships CA Consumer Finance
5_
Consumer credit: key
to financing the real economy
EUROPEAN CONSUMERS ARE RESPONDING TO CONDITIONS IN THE WIDER ECONOMY BY
CHANGING THEIR BUYING HABITS. ACROSS THE FOUR KEY CA CONSUMER FINANCE MARKETS,
BETWEEN 11% AND 14% OF THEIR PURCHASES ARE FINANCED BY CREDIT.
2,754
2,243
14.3%
1,698
Germany
France
Italy
12.9%
11.0%
11.4%
Italy
Portugal
1,161
Portugal
Germany
Average outstanding consumer
credit per inhabitant
France
Outstanding consumer credit as
a proportion of annual household
expenditure
(in euros)
Consumer credit by type of goods
78%
9%
13%
Germany
63%
29%
8%
France
67%
20%
13%
Italy
70%
30%
Portugal
Cars
Household
equipment and
home renovations
Other
Source: Estimates by the French consulting firm Asterès (31/12/2014)
6_
An extensive range
of products and services
INSURANCE
CRÉDIT AGRICOLE CONSUMER FINANCE OFFERS
ITS PARTNERS A WIDE RANGE OF FINANCE AND
INSURANCE SOLUTIONS TAILORED TO CUSTOMER
NEEDS AND THE CHANGING REGULATORY
FRAMEWORKS IN EACH MARKET.
CA Consumer Finance offers its
customers a number of insurance
solutions to complement a loan
or provide cover for goods purchased
or financed via its partners (extended
warranties, top-up car insurance, etc.)
or purchased independently (funeral
expenses, etc.).
SAVINGS
INSTALMENT LOANS
AND REVOLVING CREDIT
LONG-TERM
LEASE
These financing products are CA
Consumer Finance’s core business,
distributed directly via branches,
online, by phone or at the point of sale
when purchasing goods.
A long-term lease is a product
designed to finance corporate car
fleets. This format includes the
provision of services such as roadside
assistance and maintenance.
LEASE PURCHASE
LOAN REPURCHASE
(CONSOLIDATION)
The borrower pays an initial deposit,
followed by monthly repayments. The
property belongs to the finance provider
unless the customer exercises the
purchase option at the end of the contract.
This term refers to the grouping
together of existing loans from
various sources into one loan
with a single monthly payment.
CA Consumer Finance developed an
institutional savings product in 2011,
followed by a personal savings product
in 2012; both are offered via its German
subsidiary CreditPlus Bank. Since
2014, CA Consumer Finance has been
offering online savings in Germany
via the ‘European Passport’* system.
* The European Passport system enables financial
institutions to operate in other European Union member
countries (authorisation required from the country of origin).
The market strengths
of Crédit Agricole
Consumer Finance
At the heart of CA Consumer Finance’s
strategy: the satisfaction of its partners
and their customers, as it leverages
the strength of its network to
help specialist distributors increase
their sales. The company’s in-depth
banking expertise is a real strength
when it comes to developing specific
value-added offers and promoting
customer loyalty with and for Crédit
Agricole Group retail banks (Crédit
Agricole Regional Banks and LCL
in France, Cariparma in Italy and
Crédit du Maroc in Morocco).
CA Consumer Finance responds
to the diversity of its partners and
evolving consumer needs through
jointly developed offers and unique
digital solutions - a competitive edge
for its partners. Car manufacturers
in partnership with CA Consumer
Finance also benefit from a high-level
of expertise and specialist skills in
automotive financing. As a partner
of choice within the consumer credit
market, Crédit Agricole Consumer
Finance is committed to a policy of
responsible lending and in this respect
analyses carefully customer borrowing
capacities. In addition, the group
runs financial education (e.g. how
to manage a budget) and debt
prevention initiatives for those
who are vulnerable.
7_
Your customer
satisfaction is central
to our strategy
AT CRÉDIT AGRICOLE CONSUMER FINANCE, RESPONDING TO ITS
PARTNERS’ BUSINESS CHALLENGES MEANS PAYING VERY SPECIAL
ATTENTION TO CUSTOMER EXPECTATIONS IN TERMS OF FINANCE
SOLUTIONS, SUPPORT AND INNOVATIVE OFFERS. OUR GOAL IS ALWAYS
GREATER CUSTOMER SATISFACTION.
CA Consumer Finance expertise is
visible at every stage of the loan
application and acceptance process.
Its acceptance scores provide a true
measurement of borrowing capacities,
and its processes ensure that there is
a fast reply. Advice, customised
solutions, innovation and operational
efficiency all contribute to customer
satisfaction and loyalty.
MEASURING CUSTOMER
SATISFACTION, MANAGING
IT EFFECTIVELY
Customer satisfaction is assessed
using the Net Promoter Score (NPS).
High-quality customer service,
a commitment to corporate
responsibility, clear proposals and
24%
of loan applications
received by Agos Ducato
are made via smartphones
and tablets
88 __
support at every stage of the customer
experience all helped CA Consumer
Finance significantly improve its NPS
between 2013 and 2014.
All group entities have implemented
initiatives to manage customer
satisfaction levels, from improving
their communications to faster
response times and staff training
concerning excess debt… Such
actions have brought results at Agos
Ducato, for instance, where clients
appreciate easier access to advisors,
respected service levels and simplified
administrative procedures.
USING INNOVATION
TO RESPOND TO NEW
CONSUMER NEEDS
AND BEHAVIORS
CA Consumer Finance has a proven
track record of innovation through
its joint solutions with partners
and its own teams.
Its digital offer has been developed
in precisely this context. A digital loan
agreement is key to the finance
application and acceptance process.
So CA Consumer Finance has
introduced electronic signature
technology on the La Redoute website
- a first in the French consumer credit
market. This solution was designed as
part of Sofinco Lab, the CA Consumer
Finance France unit that brings
together staff from diverse backgrounds
to develop prototypes. In Germany,
CreditPlus Bank has redesigned its
website and introduced responsive
web design* solutions, offering
increased proximity and an enhanced
client experience. Innovation is also
at work in the sales force, which now
uses tablets to coordinate the network
in addressing challenges directly.
* The process of designing adaptive websites
that offer visitors an optimal viewing experience
regardless of device (desktop computers,
smartphones, tablets, etc.)
68%
of loan applications
submitted to Sofinco (a commercial
brand of CA Consumer Finance
France) via its website
A specialist
for our partners
CRÉDIT AGRICOLE CONSUMER FINANCE PUTS
THE EMPHASIS ON A CLOSE WORKING RELATIONSHIP
WITH ITS PARTNERS, PROVIDING THEM WITH SPECIFIC
ADVICE AND CUSTOMISED OFFERS.
PARTNERS FACING A BROAD
RANGE OF CHALLENGES
The car manufacturers and
dealerships, home equipment
providers, specialist distributors and
retail banking networks that work
alongside CA Consumer Finance
expect their partner to provide them
with a range of products and services
tailored to the needs of their specific
sales models (e-commerce, in-store,
etc.) and the expectations and new
behaviours of their customers.
CA Consumer Finance responds
by continually adapting its offers
and services to the challenges faced
by each of its partners.
Innovation is therefore a priority for
CA Consumer Finance, as it anticipates
customer needs with products
reflecting their lifestyles, e.g. an
easy-to-use digital application and
acceptance process for tablets
designed in conjunction with a leading
brand of hi-tech products for in-store
sales of its products in France, Italy
and Germany.
in the special features of consumer
credit, and support them in the
implementation of their own sales
systems. At the same time,
CA Consumer Finance applies its
expertise in Big Data to refine and
share its customer knowledge with
its partners. Today’s world brings
with it a new challenge: leveraging
customer data to gain a better
understanding of their online experience,
anticipate their needs and provide
partners with more accurate advice.
This unique level of multichannel
expertise is just one of the strengths
that set CA Consumer Finance apart
from its competitors in the market.
THE POWER OF A
MULTICHANNEL EXPERIENCE
When it comes to personal loans,
consumers compare the full range of
offers available on their smartphones,
tablets and the Internet as part of the
buying process. CA Consumer Finance
develops its innovative solutions by
building them jointly with its partners.
Its in-house teams train sales people
More than
28,000
digital finance agreements
100,000
car loan quotes
produced by dealerships using the
dedicated c-ready app in France. This
smartphone app also enables the sales
force to access directly all CA Consumer
Finance products and services
in 2014 for a partner brand’s hi-tech
products in France
99__
Helping Crédit Agricole Group
banks to reach their full potential
in the consumer credit market
AGAINST THE BACKGROUND OF A LACKLUSTRE ECONOMY AND LOW
INTEREST RATES, CONSUMER CREDIT OFFERS THE CRÉDIT AGRICOLE
GROUP BANKING NETWORKS AN APPEALING ROUTE TO GROWTH
IN TERMS OF CUSTOMER LOYALTY AND REVENUE.
YOUR NEEDS,
OUR PROMISE
Consumer credit is a strategic
business line for the banking industry.
It is, in fact, the second most effective
product for generating customer loyalty,
after mortgages. In France, consumer
credit contributes to more than 7%
of national GDP. CA Consumer Finance
brings its expertise of all consumer
credit related products and services
to boost the profitable growth and
regional profile of Crédit Agricole
Group banking networks.
OUR SERVICES TO YOU
CA Consumer Finance offers
the Crédit Agricole Regional Banks
and LCL in France, Cariparma in Italy
and Crédit du Maroc in Morocco
the powerful technical and marketing
systems they need to boost customer
take-up of consumer credit products.
CA Consumer Finance is rolling out
its Conso 2.0 distribution strategy to
the Crédit Agricole Regional Banks.
Delivering a dramatic increase in
banking network business volumes,
driving innovation in offers and
services, ensuring transparent
communication and sharing expertise
are all central to this process. A new
governance structure enables the
momentum of consumer credit and
decisions to be shared more effectively
within the Regional Bank network.
CA Consumer Finance also provides
the Regional Banks with additional
human resources backed by sales
and marketing coordination, and has
10 _
put together a series of key indicator
dashboards via tablet devices for
enhanced steering.
The partnership between LCL and
CA Consumer Finance also provides a
structure for self-governance, network
management team coordination and
project management which leads to a
very dynamic approach to consumer
credit. In Italy, Agos Ducato and
Cariparma signed a new distribution
agreement in 2014. It effectively brings
together the complementary talents
of these two important players
in the Italian personal finance market.
Agos Ducato contributes its expertise
in sales and marketing promotion,
product innovation and distribution.
Cariparma brings to the partnership
its strength in distribution, with its
network of 806 Cariparma, FriulAdria
and Carispezia agencies.
2014 highlight
“Our partnership with Agos Ducato
is a valuable opportunity for
Cariparma Group as we build on
our synergies to create an innovative
consumer credit experience. It is
a key element in the development
of new products, because it allows
us to pool and share our experience
via a multichannel platform.
Our collaboration is allowing us to
run our distribution network more
efficiently, leverage our investments
in IT, and control risk management
more effectively”.
Gianluca Borrelli, Retail
Department Manager at Cariparma
In Morocco, Wafasalaf’s specialist
consumer credit expertise is available
through the Crédit du Maroc branch
network at every stage of the sales
journey, from market analysis to the
organisation of promotional and
marketing campaigns, training initiatives
and network coordination.
Our customers look to
our branches for solutions
that will help them budget effectively.
Consumer credit is the perfect response. It represents
an important asset in developing our business lines and
securing the loyalty of our customers. And the Crédit
Agricole Consumer Finance expert risk analysis system
allows us to consolidate this business with complete
transparency. We are determined to increase our
distribution of these products, because they represent
a very significant source of revenue.
Michel Lefrançois, Chief Executive Officer, Caisse régionale
de Crédit Agricole Alsace Vosges
An effective response
to the multiple needs of car
manufacturers and dealerships
THROUGH ITS JOINT VENTURES WITH FIAT
CHRYSLER AUTOMOBILES, FORD AND THE CHINESE
MANUFACTURER GAC, ITS PARTNERSHIPS WITH MAZDA
AND HONDA, AND ITS OWN NETWORK, VIAXEL,
IN FRANCE, CRÉDIT AGRICOLE CONSUMER FINANCE
IS A PARTNER OF CHOICE FOR AUTOMOTIVE FINANCING.
YOUR NEEDS,
OUR PROMISE
The European automobile market is
undergoing major changes. New car
sales are falling as the used car
market grows: in France, for example,
more than two used cars are sold for
every new car. In Italy, three out of
four cars sold in 2014 were secondhand. Nevertheless, financing remains
an important part of the buying
experience, with two-thirds of all new
cars bought with loans. In this
context, CA Consumer Finance works
alongside its partners to develop
competitive and innovative finance
and warranty offers.
OUR SERVICES TO YOU
In today’s highly competitive car sales
market, CA Consumer Finance experts
rise to the marketing challenges faced
by manufacturers and dealerships,
and reply to the financial requirements
of their customers.
CA Consumer Finance has rolled out
a smooth, integrated digital strategy
focused on the expectations of its
partners and designed to obtain the
sign-off for car loans very quickly, and
as simply as possible. In China, GAC
Sofinco has introduced the Image
Management System; an innovative
resource that can digitise every stage
of the loan application and granting
process. CA Consumer Finance works
with dealerships to support sales
forces in marketing finance and
insurance solutions by providing
tailor-made training. It also contributes
to the process of developing
manufacturer promotional offers and
managing dealership stocks. In this
way, FCA Bank - the joint venture
owned by CA Consumer Finance and
Fiat Chrysler Automobiles - worked
with its partner Jeep to develop three
finance solutions specific to the
European launch of the new Jeep
Renegade: Jeep Value, a leasing
solution with a range of additional
services, Jeep Free, an innovative
finance option that gives customers
2014 highlights
Thanks to the great experience
of its shareholders,
FCA Bank is a company able to express
an image of great solidity against
international investors and it is now
able to capture more effectively the
opportunities for diversification of funding
sources, further enhancing the offer and
services to its customers thanks to a
strong presence in 16 European countries.
Alfredo Altavilla, Chief Operating Officer
EMEA Region - FCA Bank
the opportunity to change car every
two years, and Jeep Easy, a finance
package tailored specifically to the
needs of young drivers.
In the French second-hand car market,
Viaxel – CA Consumer Finance brand
dedicated to vehicle financing – has
developed the ‘Sécuri 3’ solution that
covers vehicle servicing throughout
the finance period on the basis of an
agreed annual mileage.
• FCA Bank has signed a partnership
agreement with Maserati to create
Maserati Financial Services. This
new entity offers twelve Maserati
dealerships a broad range of finance
packages and insurance products.
• In Portugal, Credibom has launched
a new car finance loss insurance policy
which is now offered to all customers
purchasing new and second-hand cars.
• In Morocco, Wafasalaf has launched
Simul@uto, a mobile app loan
simulator. It offers sales support
systems with the result that Wafasalaf
now finances 50% of all new cars
in Morocco.
11 _
Working with
specialist retailers
CRÉDIT AGRICOLE CONSUMER FINANCE IS A PARTNER OF MAJOR SPECIALIST
RETAILERS, INCLUDING VORWERK, FNAC, LA REDOUTE, CASTORAMA,
PRINTEMPS AND DARTY. THE GROUP ALSO WORKS WITH MANY FURNITURE
AND HOME DECORATION SPECIALISTS.
YOUR NEEDS,
OUR PROMISE
Specialist retail chains operate
in a fiercely competitive market.
The economic environment and
digitalisation have profoundly changed
consumer behaviours and expectations.
A simple, efficient finance offer
combined with innovative systems
and detailed market knowledge is key
to successful retailing and customer
loyalty. In this context, and to help
specialist retailers maximise their sales,
CA Consumer Finance deploys a
range of innovative, personalised
financial services that respond
directly to evolving customer needs.
OUR SERVICES TO YOU
CA Consumer Finance accompanies
partners with a strong digital culture
and close proximity with the sales
force. The CA Consumer Finance
digital strategy responds to new
consumer demands - illustrated by the
100% online digital loan application
and approval system developed
and implemented for La Redoute.
This innovation is a first in the French
mail order consumer credit market.
It allows La Redoute to attract and
retain new customers by significantly
boosting the conversion rate of loan
applications submitted via the brand
website.
The assistance that CA Consumer
Finance is able to give its partners
on a daily basis relies heavily on the
Tablets for lease: a real innovation!
Pass Location is a lease purchase offer
that we have developed with Crédit
Agricole Consumer Finance to boost
growth in hi-tech products; it’s available for
smartphones, tablets, computers, games
consoles and SLR/hybrid cameras and
lenses. So our customers can get a new
smartphone for less than €30 per month.
They then have the option to swap to a newer model after a
year (by committing to a new leasing agreement) or buying it
12 _
outright after two years using the purchase option. By rolling
out this offer, Crédit Agricole Consumer Finance has
demonstrated its ability to support complex transactions
and deliver responses that meet a high level of expectations
and reliability. We expect Crédit Agricole Consumer Finance
to continue with its innovation strategy, supporting and training
our teams in our points of sale throughout France. It’s an
essential way to attract customers.
Enrique Martinez, CEO Northern Europe - Fnac Group
CA Consumer Finance has been
helping us successfully for ten years!
2014 highlights
Vorwerk sells its products in 75 countries.
Our core business is direct sales of high-quality
products. CA Consumer Finance is a partner
offering expertise, good reputation and
international coverage. CA Consumer Finance
and Vorwerk have had a partnership in France
and Portugal for over 10 years... and now in Italy
too! In France, Vorwerk is growing quickly: sales
of our flagship product the Thermomix® kitchen appliance, as well as
our Kobold vacuum cleaners, is on the rise.
The strong partnership with Credibom in Portugal helped us to soften
the tough economic crisis. Together, we found solutions, and today,
business is growing in Portugal and we’re back on track.
Stefan John, Vice-President - Vorwerk
• Castorama - Uni-éditions partnership: a special
six-month introductory offer to a magazine for
Castorama cardholders
• In 2014, 38% of La Redoute customers received
e-statements
• Agos Ducato’s partnership with Vorwerk for
product financing in Italy
Sofinco at our
side to grow sales.
strength of its network and its local
presence. In France, 95% of its
household equipment teams work at
local level. They support and assess
retailer sales forces by providing
training and delivering a very high
quality of service. They also provide
operational support and help their
partners to put together and process
credit applications in real time.
This close relationship provides a real
competitive edge. For optimum
network coordination, CA Consumer
Finance has developed the ‘Planète
Partenariat’ system that allows its local
teams to access a range of monitoring
tools and product data sheets
via a tablet.
CA Consumer Finance listens
continually to what sales forces have
to say, and as a result, has developed
C-Digit, a fully digital tablet credit
application app specifically for
household equipment. The app offers
two distinctive new features: it runs on
iPad and Android devices, and the
application acceptance phase is split
into two stages in order to adapt to
the needs of business referral agents
in-store and out-of-store. Currently in
the pilot phase, this app will be rolled
out widely in 2015.
The digitisation of statements, which
effectively accelerates processing
times and improves document
traceability, is a direct response to
customer expectations. CA Consumer
Finance sent 1.8 million account
e-statements to Darty customers
in France during 2014.
This kind of close support and effective
communication enables CA Consumer
Finance to engage in a daily process
of building personal relationships with
all its retailer partners.
Buying a bed is a
major investment,
and on average,
French people
change their bed
only once every
14 years. At
Maison de la
Literie, we target the replacement bed
market with a high average spend. In
this context, the finance offers provided
by Sofinco allow our customers to
invest in high-quality beds within their
budget. As a true partner, Sofinco
works with us on a daily basis to train
our teams and run special offers
to grow our top-line.
Valérie Duchaussoy, Operations
Director, Maison de la Literie
13 _
Crédit Agricole Consumer
Finance Nederland
Entrada 600
1096 ET Amsterdam
Netherlands
www.ca-consumerfinance.nl
CreditPlus Bank
Augustenstrasse 7
70178 Stuttgart
Germany
www.creditplus.de
Credicom Consumer Finance
187, Syngrou Avenue
17121 Nea Smyrni
Athens
Greece
www.credicom.gr
Credium
Office Park
Bucharova 2657/12
15800 Prague 13
Czech Republic
www.credium.cz
Crédit Agricole Consumer
Finance France
Rue du Bois Sauvage
91038 Évry Cedex
France
www.ca-consumerfinance.com
FCA Bank
Corso Giovanni Agnelli 200
10135 Turin
Italy
www.fgacapital.com
Forso Nordic
Torpavallsgatan_9
Gothenburg 41673
Sweden
GAC Sofinco AFC
Floor 18, Sunrich Plaza, No.988
Guangzhou Dadao Zhong
Tianhe District
Guangzhou (510623)
China
Wafasalaf
72, Angle Bd Abdelmoumen
et rue Ram Allah
20000 Casablanca
Morocco
www.wafasalaf.ma
1014
Credibom
Lagoas Park
Edifício 14 - Piso 2
2740-262 Porto Salvo
Portugal
www.credibom.pt
CA Consumer Finance: French public limited company (SA) with share capital of €433,183,023 - Rue du Bois Sauvage - 91038 Évry Cedex - 542 097 522 RCS Évry - Illustrations: Le Duo - Photo credits: Michel Labelle, DR CA Consumer Finance - This publication was printed using an Imprim’Vert printer on PEFC certified paper made from wood harvested from sustainably managed forests.
Design and production:
Agos Ducato
Via Bernina 7
20158 Milan
Italy
www.agosducatoweb.it
www.ca-consumerfinance.com
Rue du Bois Sauvage,
91038 Évry Cedex