Made-to-measure products and services for migrant customers

Objective

  • Become the leader in the migrant bank customer segment in France.

Priority for 2011

  • Continue to develop and promote the Group's "Your Bank: Here & There" services offer.

Highlight in 2010

"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, this service was designed and developed thanks to the presence of the bank in those countries with the highest flows of migrants to France. It draws on the synergies between Societe Generale's French retail network and its International Retail Banking subsidiaries.

An unprecedented services offer

The principle behind this offer is that customers benefit from the banking products and 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 their country of origin since most customers still have very strong links (transfers, access to banking services, real estate loans, etc.).
The offer covers all of the specific needs of the bank's migrant customers, notably:
  • a transfer service between Societe Generale subsidiaries with customers benefiting from some of the lowest rates on the market (monthly subscription fee of € 1 and between € 5 and € 10 per transaction whatever the amounts involved) when sending money to family members that still reside in the customer's country of origin or when depositing savings, all of which can be done by telephone,
  • the possibility of opening a bank account with an overseas 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 who wish to be buried in their country of origin but are worried that they will not be able to cover the costs.

Adapted structures

All of Societe Generale's network branches offer this service and, to further assist potential clients, the Group has adapted certain structures accordingly:
  • tailored services for certain communities (Morocco, Sub-Saharan Africa, Algeria, Serbia) with staff who master the language and culture of the countries concerned,
  • specific training for staff in close to one thousand branches in areas with a high proportion of foreigners and "Open days" for customers.