International digital strategy development
start-up or grown-up?
You donâ€™t get much more grown up than Riyad Bank. A government owned institution until 1997, it had striven to shed some layers of bureaucracy and establish itself as a vibrant and significant player in the regionâ€™s Financial Services. The Bank had a reputation for trustworthiness but not for innovation and oomph pitched successfully against McKinseys andÂ PWCÂ to evaluate the veryÂ DNAÂ of the Bank in creating an executable digital strategy.
how did we help them grow?
We were engaged in Discovery and Planning Phases of the Bankâ€™s digital strategy. Growth was about the organisationâ€™s belief in being able to compete in the digital space. We evaluated every virtual inch of the Bank â€“ by talking to people â€“ in call centres, branches, offices and boardrooms. We had face to face points of views from over 60 members of staff. Our output was a 3-year plan for 20%+ growth by sales andÂ CPAÂ improvement across retail, corporate and capital businesses.
and the technology-powered marketing?
The Bank had already been first to market with an online banking offer 8 years earlier. Our job was to deploy web 2.0 technology to bring more customers into the bank using digital channels, and integrate with their Websphere IT strategy. As well as technology to communicate from Europe toÂ KSAÂ across the project using skype video and extranet, the strategy harnesses the very essence of Riyad Bank in a social media portal called Riyad Interactive.