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Market Comment
Despite the global recession and a decline in consumer spending, the Italian cards market experienced overall growth with an increase in the volume of transactions in 2009.
This resilience is due at least in part to the specific characteristics of the Italian market. National and regional banks are preferred to the global entities, which were widely held responsible for the economic crisis. Unlike the UK, where rate sensitivity has resulted in significant numbers of people "shopping around" for the best deal, the Italian market with its low levels of revolving credit usage is much more influenced by innovative card features.
Loyalty schemes, pricing and products, as well as closely matching specific customers segments needs, as Postepay from BancoPosta, will be vital in Italy for attracting a greater degree of card ownership and usage. Bluerock Consulting, a leading UK retail finance consultancy, is consolidating its presence in the Italian market, after extensive work with MasterCard, BancoPosta, Intesa San Paolo by opening an office in Milan.
Whilst Italy has a number of innovative offerings such as Postepay which are not yet available in the UK, the UK has significantly more experience with merchant incentives, loyalty schemes and driving card acceptance, which is vital for the success of things like contactless cards. Bluerock, with extensive experience of both markets can bring the best of both worlds to its clients, whilst retaining the unique characteristics of each market.
Bluerock is a specialist Financial Services Management Consultancy. We combine deep content knowledge with many years of experience delivering complex and challenging change. Our seasoned consultants are equally comfortable dealing at Executive level or rolling their sleeves up and delivering hands-on results.
Bluerock will be offering consulting services to the cards, payment and retail banking market in Italy, drawing from its extensive experience of the UK market combined with its local knowledge and personnel.
For further details about Bluerock and its capabilities please contact: info@bluerock.it
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Francesco Scarnera is Managing Director of Bluerock Italia, and is also Director of International Business at Bluerock Consulting in the UK. More...
Francesco Scarnera
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News
BEE Team is complimentary of Bluerock's work at Poste Italiane
B.E.E. Team shares Bluerock’s sense of fulfillment from the good work done at Poste Italiane: “Bluerock Consulting demonstrates its excellence in supporting the development of Loyalty Programs. Read more
Bluerock at the Cards & Payments Europe 2011 Conference
Bluerock shares its view on how debit can unravel hidden gems of customer insight and point banks to where they should focus efforts on. Read more
Finovate Europe - sell out event showcases financial innovation
Given the success of the San Francisco and New York events, Bluerock was pleased to be the exclusive management consultancy sponsor at yesterday's first European show.
Bluerock joins B.E.E. Consulting
Bluerock is excited to announce that as of December 2010 B.E.E. Consulting, a major Italian Consulting and IT provider has made an investment in Bluerock Consulting Ltd, with an option for further investment over the next 2 years.
This agreement will give Bluerock access to a broad set of complementary skill and resources plus extending its capability in the areas of IT and large scale change management. In addition it provides a strong capital base from which to further expand its UK and international capabilities. More...