Capital One has a very extensive corporate-level strategy. Since its start as a monocline enterprise specializing in consumer lending, it has expanded its operations by continually introducing other business lines to complement consumer lending. Presently, it has a variety of business lines chosen strategically to maximize the potential that the company has.
These business lines include an improvement of the consumer lending business line to form Credit Cards and other related services, Auto Finance that deals with loans and refinancing options for both individuals and dealers, Retail Banking that was only introduced recently and has seen the establishment of branches in several locations including New Jersey, New York, Maryland, Louisiana, Virginia, Connecticut, Texas and Districts of Columbia.
The company has also developed lines of credit and loans that are meant for the benefit of small-scale businessmen. On the other hand, the Retail Banking business line has implemented money management tools and other banking products that are demanded by the clients. The company also offers personal loans that have been very instrumental in helping individuals meet their life goals.
Capital One has implemented a number of plans to beef up its business-level strategy. Starting with the Credit Card business line, a number of products fitting different descriptions of borrowers have been developed to give the company a competitive edge in lending.
This variation in terms of different cards gives borrowers a lot of flexibility that encourages borrowing and helps the company in securing a large proportion of the borrowers. Capital One’s Auto Finance business line has also implemented several business strategies to secure a large proportion of borrowers and encourage people to enter the borrowing community. These include the issuance of blank claques, lower rates of auto loan repayments, fast loan processing, etc.
The Retail Banking business line, on the other hand, has established an extensive network of branches that have helped this business line to grow exponentially despite the fact that it was started recently.