Commerzbank divisional board member Sabine Schoon-Renné, responsible for the comdirect brand, explains in an interview why the direct bank needs a clear strategic roadmap to expand its strong market position. The expert also reveals which trends a company that wants to grow in GenZ needs to focus on - and how many young people are opting for green investments.
How does your company view the coming months in terms of corporate development?
SCHOON-RENNÉ Comdirect, a Commerzbank brand, is a growth brand. We support our digital and securities-savvy customers in conducting financial transactions independently, easily and from anywhere and want to strengthen our growth in the younger Gen Z target group. As a direct bank and online broker with a very broad and high-quality range of services, we are very well positioned in the market.
What are you focusing on in your growth strategy?
SCHOON-RENNÉ We have a clear strategic roadmap to expand our position as the leading digital bank and service broker. We are focusing on quality leadership, such as being personally available to our customers 24/7, 365 days a year via our digital channels. At the same time, as a performance broker, we have the right offers for security newcomers as well as for experienced investors and professional traders. We also want to further strengthen this position.
In your opinion, what are the top success factors that promote growth?
SCHOON-RENNÉ In my view, the key factors are a good range of services, a high level of customer satisfaction and a target group-orientated approach. comdirect offers its customers a high-quality trading experience with a comprehensive range of trading instruments and services tailored to different customer types. The broad range of products and services thus makes a significant contribution to success. But customer satisfaction is also an important factor for long-term success. comdirect has been honored as Germany's Best Bank and Best Direct Bank for the seventh time in a row, which shows how successful this approach is.
To further expand our position in Gen Z, we are also addressing this young target group with specific marketing activities. To this end, we are actively visible in the market, for example through our strong brand campaign, but also through a loud presence on Tiktok and Instagram and through collaborations such as the one with fashion designer Achraf's Team Bürgeramt and rapper breezy in the ICON LEAGUE.
To what extent do you deal with digitalization issues, including cyber security and AI?
SCHOON-RENNÉ Artificial intelligence (AI) and machine learning (ML) are of great importance for the future of the banking sector in order to meet the many challenges of the digital age and the additional (cyber) risks that arise as a result. Accordingly, these topics are high on our agenda. AI and ML offer many new opportunities, from increasing customer satisfaction and automation to risk minimization or marketing activities, among others.
What role does sustainability currently play strategically for comdirect?
SCHOON-RENNÉ We know from our customers that many of them are looking for green investment opportunities. That's why we added the green product line "coinvest green" to our robo-advisor offering coinvest over two years ago. Since then, around a third of coinvest investors have opted for this green offering, especially younger customers. ETFs are selected not only based on the existing strict quality standards, but also according to environmental, social and ethical aspects (ESG criteria), such as minimum ESG ratings, strict exclusion of controversial economic activities and a sustainable fund policy of the issuer. The topic of sustainable investment will continue to accompany us in the future as we develop further green investment opportunities.
About Sabine Schoon-Renné
Sabine Schoon-Renné has been responsible for the comdirect brand as an Executive in the Private and Small-Business Customers segment of Commerzbank AG since 2023. Schoon-Renné began her career at Commerzbank in 2000, where she held various positions in the Private Clients Corporate Banking segment. In 2013, the expert moved to comdirect, which merged with Commerzbank in 2021. Schoon-Renné studied business administration at the Frankfurt School of Finance & Management and lives in Hamburg.
Dr. Michael Prochaska, Board Member HR & Legal at STIHL
„Sustainability is definitely not moving out of focus at STIHL“
To the interview
Interview with Dr. Ruedi Kubat, CEO of Allianz Suisse
"Part of our growth strategy is to consistently withdraw from sustainably unprofitable business areas"
To the interview
