Many people probably know Capital One as a company that sends them pre-qualified credit card and insurance offers in the mail. The company itself was founded in 1988 by Richard Fairbank and Morris Nigel. It’s headquartered out of McLean, Virginia, with branches in multiple states.
Capital One’s financial products are tailored to customers that run the gamut from individuals to small businesses to very large commercial entities. Credit cards and automobile loans are central to Capital One’s service offerings, but it also brings banking and savings products to the table.
The company employs more than 48,000 people and boasts 755 branches. Its ATMs can be found in the U.S., Canada and in the U.K. Capital One has its origins in the credit card realm, and it is the third-largest credit card issuer in the United States as recently as 2016.
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Capital One Mission Statement
Capital One’s Mission Statement can be found under the “Our Company” section of its official website.
- Capital One’s mission statement claims that the company is “on a mission to help our customers succeed by bringing ingenuity, simplicity, and humanity to banking.”
- The statement goes on to detail how the company was founded on the belief that the banking industry would be revolutionized by information and technology, beginning with credit cards.
- In introducing the company’s founder, Richard Fairbank, the statement goes on to say that Capital One believes “that innovation is powered by perspective and that teamwork and respect for each other lead to superior results. Across the company, we’re building customer experiences that are real-time and intelligent. We measure our efforts by the success our customers enjoy and the advocacy they exhibit.“
Analysis
- The statement claims that the company wants to bring ingenuity, simplicity and humanity to banking. It does this by providing a simple, straightforward mobile phone app ant Internet website that customers can use to manage their affairs with Capital One, whether they are credit card customers, banking customers or they reside in some other aspect of Capital One’s sphere of service.
- If the company was indeed founded on the belief that the banking industry would be revolutionized by technology, then Capital One has certainly taken advantage of this knowledge and run with it. Capital One was founded well before this information technology revolution took place, and it now ranks as the fourth-largest credit card issuer in the United States, behind only Chase, Citibank and Bank of America.
- The company has indeed built customer experiences that are real-time and intelligent. I personally use a Capital One credit card, and the company’s services and offerings are as versatile as they are easy to use. It may seem strange to note, but the Capital One website and mobile phone app are extremely easy to read, and it’s not hard to see your expenses or your interest charges for what they are. Capital One also offers CreditWise services, allowing people to easily access their credit scores for free on an up-to-date basis. Capital One’s Quicksilver One card also offers rewards cash each time you pay down your balance.
- It’s also important to note that the company’s claim that it measures its efforts by the success its customers enjoy and the advocacy they exhibit rings true. Looking over a variety of reviews of the company’s credit cards and banking offerings on websites like BankRate.com, CreditKarma, NerdWallet and ConsumerAffairs reveals that, with rare exception, Capital One customers seem to be very happy with the service they receive.
Capital One Headquarters
Capital One is also sure to throw in mention of its award-winning office designs that promote creativity and collaboration, including the company’s new (as of 2018) headquarters in McLean, Virginia, where a variety of positions work side by side to engineer the future of Capital One.
Capital One Slogan
Capital One’s slogan, which has become well-known over the years due to the company’s advertisign campaigns, is, “What’s in your wallet?”
The Bottom Line
Capital One claims to put its customers first by offering them intelligent design and experiences that are intuitive, innovative, straightforward and easy to use.
I can personally attest that this is indeed the case, as the company’s products are simple yet versatile and their practices seem to be fair.
The company’s headquarters, for what it’s worth, are state-of-the-art, and a stimulating place for the various people who work at Capital One to make it the company it is.
In the end, Capital One lives up to its mission statement by making its user experience as simple and as straightforward as possible.
Image Credits © Ruth Sharville (cc-by-sa/2.0)
