Value proposition refers to a business or marketing statement that a company uses to summarize why a consumer should buy a product or use a service . Only by consistently working many times harder than our competitors can we consistently win. At Rakuten Bank, a subcommittee has been set up to discuss the bank's new services and consider ways to upgrade existing services. Points can also be obtained when customers use the Rakuten credit card or its Edy electronic money at physical locations. The two components it consists of are the Brand Concepts and Five Principles for Success.Additionally, we include here the Rakuten Group Code of Ethics that we observe. Online sales in particular drove growth, as online applications for Rakuten General Insurances automobile insurance increased 2.4 times YoY.In the Payment business, which includes Rakuten Pay, revenue increased +19.8% YoY. As background, Rakuten Bank is committed to grasping in real time customers' feedback about its banking services. We always put ourselves in our customers' shoes and strive to exceed their expectations. As a result, it is able to provide: (1) higher interest rates on deposits; and (2) home loans with low interest rates. Lastly, it operates Rakuten Travel College to provide education for travel companies with services on the site. Measures to improve customer convenience, such as the successful introduction of a common free shipping threshold for participating merchants on the internet shopping mall Rakuten Ichiba, have been successful, leading to an increase in customer loyalty for Rakuten Ichiba and other services. PDF Certified Case Study (CCS) 001 - Rakuten - Internal Consulting In April 2021, Rakuten issued approximately 320 billion yen in perpetual subordinated notes denominated in US dollars and euros (with an interest deferral clause) in order to diversify financing methods, expand its investor base and further enhance financial soundness. Rakutens main resource is the proprietary software platform it uses to run its website. 10 Best Value Proposition Examples. As a result, conventional banks are unable to compete with online-only banks in terms of price competitiveness. Compared with banks that operate branches and have their own bank ATM machines, the online-only Rakuten Bank has been able to enjoy substantial cost savings. The following are the four main strategic themes at Rakuten Bank: (1) Swiftly expanding Rakuten Bank's customer base by leveraging the Rakuten Group's customer base to accurately identify prospective new customers and offer them a variety of customized services that precisely meet their needs. We believe that the only way for a business to grow over the long term is to contribute to the world so significantly that people can't imagine life without it. The bank considers that the first step is to precisely understand the customers' needs, and then identify any changing needs. Normally, among an online bank's smartphone applications there is a dedicated app for opening up a new account, and a dedicated app for showing the account balance. This gives employees the chance to speak directly with customers. The knowledge that they can make withdrawals anytime brings customers a sense of security, and makes it possible to expand cashless payments. Rakuten points received through a rewards program are used more frequently than any other point system in Japan, and there are many point systems currently in use. Thus, employees do not have the kind of narrow perspective that a limited knowledge of anything beyond banking services would produce. Japan Net Bank plans to change its name to PayPay Bank in April 2021.). Rakuten Bank has been able to access the strong customer base of all the other companies under the Rakuten Group's umbrella. *6 Comparison of the total number of subscribers of two or more insurance companies out of Rakuten Life Insurance, Rakuten General Insurance and Rakuten Pet Insurance in June 2019 and June 2021. In conclusion, Japan's unique business culture, strong economy, and attractive value proposition are all contributing to the country's growing appeal among global investors.

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