Building a digital transformation strategy for a leading retail bank by creating a new “virtual branch” concept
- Business Dilemma:
The bank wanted to create an innovative concept that would increase brand differentiation and support the bank’s continued high customer recruitment rate. The bank turned to TASC for assistance in developing a new digital concept.
- Process:
The project included extensive user research, market research, and alternatives analysis using user research methods, surveys, and focus-groups to identify users’ needs in digital banking, building personas and user-journey. It also analyzed alternatives for the digital concept based on customer needs and testing the concepts on focus groups. Our team formulated the “Virtual Branch” concept, examined the concept relative to competitors’ offerings, and assessed the operational and economic implications of integrating the concept into the bank’s overall business strategy.
- Strategic solution & impact:
TASC’s digital-transformation concept was fully adopted and successfully launched, generating a significant increase in the bank’s customer recruitment and retention rates.
