Context
One of Georgia’s leading banks refreshing its brand and moving from a predominantly corporate business towards a retail banking model.
Objective
Deliver a comprehensive bank transformation: develop propositions for retail, VIP and SME customers and update pricing, the branch model, corporate culture and communications.
Role
A Senteo consulting team engagement.
Approach
- A new product portfolio for retail, VIP and SME customers.
- Updated pricing and product bundling.
- New branches and a redesigned branch operating model.
- Development of corporate culture and communication practices.
Outcome
Customer waiting time decreased by 70% and teller throughput increased by 350%.
In the first year, the retail customer base grew by 85%, assets by 65% and liabilities by 268%. The bank ranked second by retail customer market share.
Project materials also report an expansion of the bank’s branch network during the transformation.