Our customers will also be segmented according to their needs and their expectations of banks and services offered.

We identified seven customer profiles:

1. Upwardly Mobiles :

This segment involves mainly young people (43% aged between 18-34 and 37% aged between 35-49). They have an average income and a fairly substantial available capital, they willingly let somebody else manage their assets (Asset under management (AUM) 25%). Indeed, they often don't have the time to do it by themselves because of their professional activities.

This customer type has such sophisticated demands that the profit made on a limited capital would be too low compared to the supplied effort and to the resources used. The return would be too low for the bank at a personal banking level, but one might imagine to attract this type of person with our private banking once the required patrimony is reached.

  2.  Elites :

This segment is mainly composed by two age groups (31% of 35-49 years old and 43% of 50+). So it is useful to distinguish two sub-categories within this one: the young and old elites.

The firsts are very similar to the segment described above, although less dynamic. They are well enough inclined to opt for moderately customized solutions, typical of personal banking, and have the advantage of one day reaching the criteria of Private Banking. They thus represent a select clientele for Nagelmackers because they can continue their relationship with the bank on a long term period.

The latter are generally less dynamic about their patrimonial management, but are mostly looking for suitable solution regarding inheritance. In addition, they make up the largest portion of the segment "Elites" with 43%, which provides them with a more homogeneous profile. Their heirs can therefore be very beneficial for the personal banking Nagelmackers as synonymous of a long term relationship.

3.  Early adopters :

This segmentation, much younger than the previous one, consists for 44% of people between 18 and 34 years old. But these, although with modest incomes, are more likely to be picked up by other types of solutions "New World" (Fintech etc.) than the traditional method of leaving a bank manage their assets.

4.  Balanced profiles :

This segment is composed by 35% of people aged between 35 and 49 years old, and 38% of 50+. The upper portion of this segment in terms of income remains confined to the criteria of personal banking, with minimal number of them accessing to private banking services with Nagelmackers. Their interest in transparency make personal banking particularly interesting for them because of the personal contact which reassures them against the actions taken converning their capital.

5.  Safety seekers :

Population mainly (41%) made up of young adults who tend to trust and to recommend their bank which manages their assets. This type of customer wants a transparent bank, which explains to him each movement of capital and the reason of the different costs requested by the bank. However, they generally do not have sufficient capital to acces the personal banking of Nagelmackers.

6.  Traditionalists :

We find this type of person in each age group. They have very little confidence in banks.

The traditional savings usually suits them quite well. They thus have relatively little tendency to entrust their assets to external management. This segment is therefore not recommended for personal banking.

7.  Self-sufficients profiles :

They are mostly representated by a public aged of 50 for over 42% of the cases. They have a low level of trust in banking institutions. They usually have an average or very low level of income. Also, they prefer to manage their money themselves rather than talking to an advisor.

They are therefore not the most sensible choice for integrating the personal banking.