rakuten value proposition

The company enables customization by allowing merchants to design their pages on the website so they can showcase their stores originality. This feature contrasts with other multi-sided retail sites that try to have retailers page branding and look mimic that of the host brand. *11 Number of subscribers are preliminary figures. The bank also signed an agency agreement with Rakuten Life Insurance in March 2013, and Rakuten General Insurance in April 2019. Customers utilize the website while having limited interaction with employees. Vice Chairman and Representative Director, President of Rakuten Credit, Chief Information Officer and Executive VP, Innovators, Tech enthusiasts, Data Geeks, and people that want to change the world for the better. . Our contribution to the world is empowerment, and our mission is to build a fair society by empowering individuals and companies to be successful in business and in life. Its proposition also caters to small businesses, providing them with tools to help them accomplish their business objectives. There are about 30 million members who make purchases with a high rate of frequency. This statement convinces a potential consumer . Free-of-charge asset management tool "Money Support," which is available to all account holders. This team is responsible for undertaking systems development, systems operation, and maintenance. External advertising is positioned as a supplementary option. To fulfill our role as a Global Innovation Company, we are committed to maximizing both corporate and shareholder value. Operating losses improved by 2.6 billion yen on the previous year at the same time as rollout of proactive marketing activities, including campaign support for new merchant signups for small and medium-size businesses impacted by the pandemic that made payment fees effectively free for one year.Mobile segmentIn February 2022, Rakuten Mobile reached 96% population coverage ratio for the Rakuten 4G network area*10. The more people we can empower, the more completely we will fulfill this mission. You needtohave JavaScript enabledin your browser toaccess thefull functionality and content of this website.To do so, please follow the instructions. This is a major point that sets the bank apart from its competitors. An online-only bank provides a deposit account, and can make online banking transfers into that account or perform other online transactions, all at the customer's request. Rakuten Bank's key performance indicators (KPIs) include the following: (1) the number of daily new account applications; (2) the number of active customers; (3) total customer lifetime value (CLV) for Rakuten Bank, which is the result of lifetime value per customer (based on the individual customer's service usage history) multiplied by the number of active customers; (4) the number of direct payroll deposit accounts and the number of account-to-account transfers (as representative indicators of customer activation). In 2000 he established Rakuten University, a program designed to train vendors on how to run their business online. However, it is not the case that all online banks do not maintain branches, do not have ATMs, and do not use hard-copy documentation. As cross-use between Rakuten Mobile and other Rakuten services continues to grow, the Rakuten Ecosystem as a whole is expected to deliver further growth.Due to strategic investment in future growth including the buildout of the Rakuten Mobile service area ahead of plan in the Mobile segment, the Rakuten Group recorded Non-GAAP operating losses of 225.0 billion yen. A structured search through millions of jobs. In line with our vision as a Global Innovation Company and with our Brand Concepts as our guiding principles, we, as members of Rakuten Group, adhere to the highest ethical standards while maximizing Rakuten Group's value to shareholders and making positive contributions to society. 2. Shopify. Rakuten is a Japanese Internet service and eCommerce company. Segment income was 107.5 billion yen, 2.7 times higher than FY2020.Domestic e-commerce gross merchandise sales (GMS)*2 for FY2021 exceeded five trillion yen, up +10.4% YoY. *6 As of February 14, 2022. Skyrocket your resume, interview performance, and salary negotiation skills. 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. For customers, the usability of these points represents significant value. Some banks will charge customers 2% of the loan amount as an administrative fee. The knowledge that they can make withdrawals anytime brings customers a sense of security, and makes it possible to expand cashless payments. 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. On such occasion, the bank's data and the Group's data are utilized. *Please note that the information contained in press releases is current as of the date of release. (*2) Rakuten, Inc.'s news release, "Notification that Rakuten has changed the name of its subsidiary (eBank Bank), Jan. 21, 2010, https://corp.rakuten.co.jp/news/press/2010/0121_01.html, accessed on Nov. 25, 2020. The ability to offer banking services in combination with other services makes it possible for Rakuten Bank to further enhance customer convenience. Points can also be obtained when customers use the Rakuten credit card or its Edy electronic money at physical locations. Shoppers on JD.com can access a wide variety of . Lastly, it operates Rakuten Travel College to provide education for travel companies with services on the site. In the Investment business, Rakuten saw an improvement in Q2 FY2021 from the large valuation loss recorded in Q2 FY2020 due to the market value decline of investment holdings. Rakuten plans to allocate the funds raised chiefly to its mobile carrier business for infrastructure investment. The two components it consists of are the Brand Concepts and Five Principles for Success. Points earned through the Happy Program can be used as payment for the bank transfer fees charged by Rakuten Bank. Moreover, all of the financial companies in the Rakuten Group have formed tie-ups as agency service providers for the bank: Rakuten Securities, Inc. and Rakuten Life Insurance Co., Ltd. in 2016; Rakuten General Insurance Co., Ltd. and Rakuten Card Co., Ltd. in 2019. In addition, it has 700 million users in over 170 countries, with over 108 million being members of its loyalty program. For example, the new customer acquisition cost is controlled by taking into consideration the customer lifetime value (CLV). The Rakuten Group forms a type of robust ecosystem. . The newly created stories are then featured in sales campaigns. Rakuten Bank's convenience store payment service. Rakuten is an organization composed of true professionals. While a value proposition is more concrete, a tagline can represent a concept or idea that your business stands . The population coverage ratio is calculated based on the number of the approximately 500 meter zones used in the national census which have area coverage of more than 50%. The company also depends on human resources in the form of its technology staff to maintain and update the platform, customer service staff for support, and training staff for merchant instruction. Rakuten Travel, which experienced a decline in reservations due to the significant impact of stay-at-home trends in Q2 FY2020, successfully increased GMS YoY by implementing initiatives including those aimed at promoting safe travel. Why Rakuten is an ICG Certified Case Study 2 Context Rakuten business model Global market (peers and substitutes) 3 Detailed Description Rakuten value proposition 3 Relevant Media Media coverage and relevant quotes Case studies and detailed interviews 4 Marketing Collateral and Brochure ware This achievement was followed by many major milestones. The employees of Rakuten Group form one big team. We work to increase transparency by actively communicating with our shareholders and society at large, as well as by disclosing company information in a timely and appropriate manner. Among the total number of MNO subscribers, the ratio of new subscribers switching over from other mobile carriers (MNP) is increasing. Found My Animal. All employees are welcome to participate. Furthermore, the bank promotes all types of banking services to its existing customers, as well as services offered by other Group members, in a type of "cross-selling." In 2002 the firm established Pay As You Go, a fee contract system for merchants, and Super Points, a loyalty program for consumers. That is to say, anyone with a smartphone can access all of these services. RCE has a stable dividend payout ratio ranging from 20%- 40%. Rakuten Bank has continued to follow these same strategies for acquiring new customers. Best Effort people are satisfied with the status quo; when they fail, they console themselves by saying "I did my best." In the focus area of asset-building services, the number of investment trust accounts has increased significantly to 1.64 million, up +131.3% YoY, and the regular monthly purchase amount has increased to 58.9 billion yen, a tremendous increase of +183.3% YoY. These points can also be used for services provided by other Rakuten Group companies. The second basic strategy is to create better services through: (1) the cross-selling of the Group's other businesses and services; and (2) the creation of customized services by combining banking services with other services offered by Group members. Rakuten Group Q2 FY2021 Financial Results Highlights. With Merumane (Mail Money) all that is needed is an email address and the payee's full name. The bank's customers have access to more than 90,000 ATMs nationwide. *3 As of July 5, 2021. Rakuten has a multi-sided business model, with two interdependent customer segments that are both needed in order to operate: Rakuten offers four primary value propositions: customization, cost reduction, risk reduction, and brand/status. Advertising Fees Revenue generated from the fees the company charges to third parties for advertising their offerings on the site. Revenue for the Internet Services segment was 237,868 million yen, a +17.9% YoY increase, while segment profit was 17,347 million yen, compared to a loss of 1,309 million yen recorded in the same period of the previous fiscal year. Get Zombie Cracking Crypt Prop for $524.99 + 2% Cash Back on Oriental Trading Company. The bank takes a different approach when dealing with its corporate customers. With this name change, Rakuten aimed to make clear the bank's positioning as a member of the Rakuten Group and emphasize the superior customer convenience that the bank can provide by taking advantage of synergies with other Rakuten Group companies. Examples of strong value propositions. *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. At the same time, we are acutely aware of the value of the information we hold both that of Rakuten Group and of our users and are committed to using and managing such information appropriately and responsibly. Get on promotion fasstrack and increase tour lifetime salary. (*1) Rakuten Bank's website, https://www.rakuten-bank.co.jp/, accessed on Nov. 25, 2020. The internet makes the window of opportunity for every small business. As of February 1, 2022. 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 bank's employees must work in the bank's call center at least once a month, after undergoing training. You needtohave JavaScript enabledin your browser toaccess thefull functionality and content of this website.To do so, please follow the instructions. The company enables customization by allowing merchants to design their pages on the website so they can showcase their stores' originality. (Later, Japan Net Bank became a subsidiary of Z Financial Corporation, which is a subsidiary of Z Holdings Corporation. The membership base for each service continued to steadily expand, and both revenue and profit in Q2 FY2021 increased compared to the same period of the previous fiscal year. Please check the coverage map for current coverage. Furthermore, Rakuten Bank's app is easy to use. The banking industry collects funds through deposits, lends these funds to individuals and companies that require financing, and creates credit, thereby providing an important infrastructure for economic activities. For customers, this translates into higher interest rates on deposits, lower fee charges, and lower interest rates on loans. The FinTech segment recorded 153,153 million yen in revenue, an increase of +8.1% YoY, while segment profit stood at 22,524 million yen, a +6.0% YoY increase. (3) Cross-selling by utilizing both the bank's data and the Rakuten Group's data, and through the promotion of Group companies' services to the bank's customers. Rakuten Bank app and website. Rakuten Bank offers the following services: Deposits (yen & foreign currencies); financing (credit card loans, mortgage loans, educational loans); bank deposit transfers, remittance services (credit cards, debit cards, prepaid cards, money transfers, etc. Revenue from users completing the one-year free campaign is steadily adding more to revenue, and sales from devices are increasing. The customer's "stage" is determined based on usage (number of transactions and total assets). Rakuten Bank has been able to access the strong customer base of all the other companies under the Rakuten Group's umbrella. Like Rakuten Bank, the "Rakuten Ichiba" marketplace (a large internet shopping mall) is a member of the Rakuten Group. During the meeting, the sales staff member makes an effort to accurately identify the customer's needs, and then offers a selection of customized products and services, utilizing a cross-selling approach. The bank was also able to very efficiently acquire new customers from among the existing customers of other Rakuten Group companies. As a result, conventional banks are unable to compete with online-only banks in terms of price competitiveness. 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. Learn about Rakuten's brand story and brand evolution. Travel coupons became available in September 2021 as thank-you gifts through Japans Hometown Tax program. It is for this reason that all employees are given the chance to speak directly with customers and that the organization as a whole makes it a priority to improve both the quality of its banking services and the speed with which those services are upgraded. Through a complete commitment to Get Things Done, we make continuous progress toward achieving that mission. Taking into account the crucial role that banks play, it is no surprise that the process for opening a new bank is very involved. In addition, many net retailers and brick-and-mortar stores will accept Rakuten points as payment. In non-life insurance services, while insurance premium income has decreased due to continuing measures to optimize insurance underwriting for risk control, operating income increased YoY due to a decrease in net incurred insurance claims driven by loss ratio improvements. These coupons are available for use in more than 200 municipalities, and the number of users is expanding. For its corporate customers, Rakuten Bank maintains a sales team. While overall domestic consumption in accommodation and dining services continues to be sluggish, Rakuten Card shopping Gross Transaction Volume (GTV) achieved significant growth of +34.0% YoY in Q2 FY2021. There are only two kinds of people in the world: Rakuten makes customization possible by giving room for merchants to develop their websites so that they can portray the originality of their. Through delighting our customers, we seek to achieve our mission of Empowerment and contribute to society. Choose cover letter template and write your cover letter. His other past roles include Executive Officer and General Manager of the Personal Finance Department at ORIX Credit Corporation. Additionally, Rakuten Securities achieved strong growth of +20% YoY growth in operating revenue. Rakuten offers four primary value propositions: customization, cost reduction, risk reduction, and brand/status. Moreover, the members of this team continuously undertake service improvements, such as user interface (UI) and user experience (UX), in a precise and speedy manner. Identify and assess the benefits delivered by your company and its products or services, along . The trading value of domestic and overseas stocks has remained at a high level, commission earnings increased YoY, and financial revenue increased due to growth in margin transaction balance, leading to strong growth of +19.4% YoY in operating revenue. 1. We strive for the promotion of a society free from discrimination, harassment, child labor, and forced labor. The bank considers that the first step is to precisely understand the customers' needs, and then identify any changing needs. The new joint venture will drive increased efficiency through the creation of shared logistics centers, as well as shared delivery systems and pick-up services. Consistent with the principle of Integrity in our Brand Concepts, we pledge to respond to any illegal actions in a serious and responsible manner. At Rakuten Bank, a subcommittee has been set up to discuss the bank's new services and consider ways to upgrade existing services. Meanwhile, Rakuten Bank has introduced its customers to other Group companies. By working with local communities and nurturing a robust corporate culture enabling each member of our diverse team to perform at their best, the Rakuten Group is committed to boosting corporate value and contributing to progress in society. Despite continued limitations on some in-store transactions due to stay-at-home trends, the impact of the pandemic that began in Q2 FY2020 has come full circle this quarter. Value is a word that has nearly lost its meaning. Does not hold government bonds as investment vehicles. Rakuten Bank has only one app. Rakutens many acquisitions and joint ventures helped it to expand its product lines, branching out into financial services such as banking, and to increase its global reach to countries such as Canada, Austria, Taiwan, and Spain. Rakuten Groups mission is to contribute to society by creating value through innovation and entrepreneurship. The emergence of online-only banks was prompted by the widespread adoption of the internet. Although the online services are more convenient for customers, the amount such banks charge for their online services is not that much different from their normal fees. By raising awareness in this way, customers develop an understanding about the bank's peripheral services. The two components it consists of are the Brand Concepts and Five Principles for Success. With enough determination and effortby being a Get Things Done personyou can achieve anything. JD.com has grown to become China's leading online retailer through its ability to simplify shopping experience for everyday consumer. Thus, Rakuten Bank's first basic strategy is to grow its business through new customer acquisition, specifically by leveraging the customer base of other Rakuten Group companies. All employees are required to participate in discussions that go beyond the scope of their own departments. Revenue for the Mobile segment rose to 51,462 million yen, an increase of +17.0% YoY, but segment losses reached 99,686 million yen, compared to 53,825 million yen in the same period in the previous year. In particular, personnel transfers are assigned taking into account the development of the individual's potential. Going forward, this is expected to contribute to increased Average Revenue Per User (ARPU) and lifetime value. Though we have an important mission, unless we succeed in business we won't be able to contribute to society. Rakuten Securities has succeeded in attracting investment beginners through a variety of initiatives leveraging the Rakuten Ecosystem. Sign up today for an additional $10 bonus. The bank changed its trade name to Rakuten Bank in 2010. Revenue recorded from telco platform business Rakuten Symphony also contributed to this result. Excluding profits and losses of the Mobile, Logistics and Investment businesses, non-GAAP operating income was 46,852 million yen, a significant increase of +35.6% YoY. Map your value proposition canvas. This approach makes it possible to control advertising costs and keep them low. Source: Rakuten Research - 13 Feb 2020 Rakutens main resource is the proprietary software platform it uses to run its website. Get "36"" Frightronics Seated Candy Creep Animated Prop" for $824.99 + 2% Cash Back on Oriental Trading Company. This internet bank does not have any branches for face-to-face meetings or its own dedicated ATM network. (Please refer to Rakuten Bank, Limited's activity system map, which appears at the end of this report. In Q4, shopping e-commerce GMS*3 grew +11.7% YoY, achieving additional growth even after the impact of increased demand due to stay-at-home trends in FY2020 that led to significant growth of +45.2% compared to Q4 FY2019.Expanded cross-use between Rakuten Ichiba and other e-commerce services such as Rakuten Seiyu Netsuper, Rakuten Beauty and Rakuten GORA have contributed to the increase in total GMS.For Rakuten Travel, the total number of guest nights*4 in Q4 FY2021 showed positive growth of +5.1% on FY2019. Beyond these features, the company ensures payment security and provides settlement options. The Rakuten Group recorded revenue of 402,158 million yen for Q2 FY2021, up +15.8% year-on-year (YoY), and continues to deliver strong growth. This was due to an increase in the number of Rakuten Cards issued and growth in online shopping, as well as the impact of pandemic-driven reduced consumption that began in Q2 FY2020 coming full circle this quarter. Value proposition. Research by Rakuten Bank. Succession was completed of Rakutens logistics business to JP Rakuten Logistics, Inc., a new joint venture established by Rakuten and Japan Post. This is a major reason why customers would choose Rakuten Bank over other banks. *1 Percentage of users of 2 or more services in the past 12 months divided by the number of users of all services in the past 12 months (as of the end of June 2021). Its main channel for consumers is its website. *5 Ministry of Economy, Trade and Industry, Specified Service Industry Statistics Survey and Credit Card Industry. Thus, the bank offers its mortgage loan customers the option of a web meeting. Succession was completed of Rakutens logistics business to JP Rakuten Logistics, Inc., a new joint venture established by Rakuten and Japan Post. Rakuten Bank has succeeded largely thanks to this convenient access to new customers. Know your customers. This experience gives bank employees the opportunity to gain a better understanding of the customers' needs and deepens their knowledge about systems development, while helping them to increase their marketing know-how. Moreover, the ability to accrue Rakuten points has the effect of reducing the actual cost of banking services for users and reinforces their sense that they are getting a bargain. Rakuten Bank's in-house IT systems development team has full knowledge of banking operations, and is able to quickly make changes and improvements. Empowering people to realize their hopes and dreams, The end result is that Rakuten Bank has a high degree of success with cross-selling as a marketing tool. Japan's banking industry had no new entrants for many years until 2000, when several online-only banks were established. *1 Percentage of users of two or more services in the past 12 months divided by the number of users of all services in the past 12 months (as of the end of December 2021). In an ideal world, the digitalization of a product or service would occur without compromising the consumer value proposition. ); the deposit and withdrawal of money (at affiliated ATMs); asset management apps (Money Support); and payments for Takurakuji and BIG lottery tickets, Toto (J-league soccer pools), and public race tracks, etc. Source: Rakuten Securities research. To its new customers Rakuten Bank proposes a selection of the Group's new services, taking into account each customer's preferences. *7 Comparison of number of new account openings from 2018 to 2020 for major online brokers in Japan. Customers in a "high stage" are allocated a larger number of Rakuten points. In the case of the social media network payment service "Viber," the Rakuten Bank app and the Viber app are connected by a deep link. Thus, employees do not have the kind of narrow perspective that a limited knowledge of anything beyond banking services would produce. Its biggest cost driver is cost of merchandise and services, a variable expense. Real professionals in any fieldwhether in sports, the arts, science, business or anything elseonly reach the top because they have the self-discipline to develop and improve themselves continuously. As the . In the Insurance business, in addition to strong performance of online sales, new contract acquisitions are steadily increasing for both life and non-life insurance services as some face-to-face sales have recovered from pandemic-driven limitations. JP Rakuten Logistics will become an equity method affiliate of Rakuten beginning in Q3 FY2021. Mikitani proved his doubters wrong when the company became a huge success, generating revenues of 25 million by the end of its first year. Step 5 - Sustaining Value through Post Purchase Services. Accomplish in one month what it takes other companies a year to do, because we can only win by being many times faster than our competitors. With regard to all of the bank's campaigns, Rakuten points can be used. Approximately 76% of users who purchased products on Rakuten Ichiba in Q1 FY2021 went on to also purchase products on Rakuten Ichiba in Q2 FY2021, indicating high customer loyalty. The new joint venture will become an equity method affiliate of Rakuten beginning in Q3 FY2021. Because the online-only bank has obtained a banking license, it can also provide mortgage loans and other loans, as well as financing services. Customers can log into the Rakuten Bank app without a login password by using fingerprint authentication. Rakuten Cards membership base continues to expand, as the number of Rakuten Cards issued surpassed 23 million in June 2021. Building on our core business, we will cooperate with customers, business partners, and other stakeholders to tackle challenges facing society and contribute to a sustainable future. It began operating as Japan's third internet bank in July 2001. First, there are all kinds of preliminary screenings and inspections before a bank can get a banking license. However, the fact that Rakuten Bank can build its own system in-house is unique. (*1) In addition, customers can move seamlessly between Rakuten Bank and other Rakuten Group companies, including an investment trust bank, a securities company, and an insurance company, when other non-banking services are required. At the forefront of a rapidly evolving world, Rakuten Group is continually expanding its operations into new fields. Mailchimp promises to solve one of the biggest pain points of business owners: to send better emails. Logically, the administrative costs are supposed to be the same regardless of the amount borrowed. Money Bridge, the service linking Rakuten Securities and Rakuten Bank accounts, surpassed three million accounts and four trillion yen in total balance of deposits in December 2021.In the Insurance business, annualized insurance premiums of new policies increased steadily in FY2021, with new sales of life insurance increasing +15.8% YoY*8 and new sales of general insurance increasing +26.8% YoY*9. We draw a line between public and private, avoid conflicts of interest, and refuse to tolerate bribery or corruption in any form. Transaction Fees Revenue generated from the commission Rakuten charges for each purchase transaction that occurs on the site. The bank's sales staff inquire about the issues facing management, and then provide a tailor-made service that utilizes IT technology, which is Rakuten Bank's strength.

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rakuten value proposition