Share this page
Customer-centric digital platform pioneers banking innovation in Bahrain.
Challenge
As millennials and new age prospective banking customers rely more on digital channels, our client, a leading bank in Bahrain, aimed at transforming its customers banking experience. We helped our client lead the wave of digital innovation with a platform that attracts new customers to new products at a fraction of the cost.
The Bahrain-based bank knew that to engage millennials and new-age banking customers, it needed to revitalize the channels they’re offered. These always-connected, always-informed customers rely on the immediacy and convenience of smart devices to access exactly what they want when they want it. For them, banking is no exception.
Strategy and Solution
Our concept empowered new age customers with an intuitive banking platform that’s powerful, engaging, and easy to use.
Within 3 months we deployed a platform that navigated the banks legacy systems and ensured national regulatory compliance while aligning with our vision of a digital-first, banking-enabled customer.
The refined digital experience meant that existing customers could access a wider range of banking products on a channel they’re more comfortable with, and new customers could be easily onboarded without stepping foot into a physical branch. Our client’s entire product range became available in the palms of new age customer’s hands.
Our suite of Digibanc™ products seamlessly integrates the banks legacy systems with a frictionless digital onboarding proposition, a completely refreshed payments and transactions experience, and powerful cards and account management tools all within the app. Customers could now explore various bank products and services without leaving their homes.
The Bahrain-based bank knew that to engage millennials and new-age banking customers, it needed to revitalize the channels they’re offered. These always-connected, always-informed customers rely on the immediacy and convenience of smart devices to access exactly what they want when they want it. For them, banking is no exception.
The Digibanc™ suite of products has allowed the bank to attract a segment of the market that’s younger, makes decisions faster, and actively seeks out value
Transformation
The bank’s refreshed approach to omni-channel banking attracted new and existing customers to the digital platform while reducing physical branch footfall by 33%, and cutting new customer acquisition costs by 45%. This clearly indicates that digital innovation can rapidly shrink operating expenditure, and intelligently cross-sell products with unprecedented precision.
The Digibanc™ suite of products has allowed the bank to attract a segment of the market that’s younger, makes decisions faster, and actively seeks out value.
By deploying a customer-centric digital platform that hones in on the younger generation, we’ve established competitive advantage that has not only made our client a digital leader, it has ensured its long-term success.
Since the platform’s launch, our client has established itself as a digital leader in the GCC with more than 65% of new accounts opened at a fraction of the cost.
