Making sure the customer is at the forefront of all parts of your bank can be challenging. Backbase CEO, Jouk Pleiter recently explored the impressive success of one of our customers, ila Bank. The digital, mobile-only bank in Bahrain is showing impressive growth and has really focused on creating a valuable financial hub for its customers that offers a highly personalized experience.
Value leads to increased banking success
Value is undoubtedly something all banks are striving to achieve. Without it, customers will likely turn to another financial institution where they can get what they want.
One year ago, ila Bank went live with their new digital offering – reaching 4.5 times all of their commercial and business KPI’s.
ila Bank CEO, Mohamed Almaraj revealed in the CXO LinkedIn Live talks, “I am very proud of the team because I think really what is behind all of the IT, and all of the tech, the app, and the developments are a team of people, including our partners, that spent sleepless nights, in the beginning, to really drive the app and the engagement.”
He added, “It’s about making sure that your service is something that people can get value from.”
From idea to execution, hear top tips from ila Bank CEO on how to successfully launch a digital bank.
Ila’s continuing success story is a great example of how working with the right technology partners and having a passionate team can really drive improved value for customers and ultimately lead to a more engaged and loyal customer base.
Changing the way you engage with customers
Moving into the engagement banking era, it’s clear that financial institutions need to improve their relationship with the customer.
For instance, Almaraj said that in the beginning, ila Bank was one of the first to really change the way engagement was being done. The bank steered towards making the company a place of open communication so the customers felt like they were listened to and had a voice – whether via social media or marketing efforts.
Improving your bank’s engagement is crucial to not only attract new customers, but to also keep your current ones happy. At the end of the day, if customers feel like they can easily contact their bank for help or advice and feel up to date with any news from their financial provider, they will be satisfied and stay loyal.