WINNERS’ INTERVIEWS
The changing face of KIB Mohamed Said El Saka, Deputy Chief Executive Officer and Acting Chief Executive Officer of Kuwait International Bank, explains how the bank embraces change while holding to its values
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IB won the award for Best Customer Acquisition at the Banker Middle East Industry Awards; what has made the bank a leader in this field? “A few decades ago, banks seeking to grow their customer base had a few options; customers were predictable and easy to find. In today’s market, finding potential customers is a much more challenging feat. “We have learned that we must come to terms with shifts in consumer preferences, as well as their rising expectations for efficient personalised services. At KIB, having a strong customer acquisition strategy is an essential component. Understanding the demographics of our customers is critical to the growth of our customer base and the success of our business. Without this, we would not be able to figure out which channel is the most sustainable for bringing in new customers. A key success factor is our ability to select the proper channels to engage with our target market by utilising digital channels for customer acquisition and retention. “Of course, transferring the activity into the digital world is not sufficient on its own. KIB has also placed the customer in the center of its business universe and strengthened efforts in ensuring the highest quality products and services to deliver a reliable, and personalised customer experience. KIB has been successful in creating and sustaining its brand loyalty by offering an authentic and personalised digital experience to all its customers.”
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BANKER MIDDLE EAST INDUSTRY AWARDS 2018
Mohamed Said El Saka
How does KIB view change? “In order to survive and thrive in today’s competitive landscape; banks must be inherently flexible. KIB has always recognised that change is not only inevitable, but it is a vital necessity. “KIB is no stranger to change. It was 10 years ago that the bank underwent its first strategic transformation, when it made the transition from a specialised real estate bank, to a full-fledged Shari’ah-compliant Islamic bank. In 2015, KIB embarked on a comprehensive strategic plan, aimed at improving the Bank’s performance indicators, as well as enhancing the quality of its products and services.
“Today, KIB is in the midst of its new strategic transformation: a comprehensive and long-term programme which is aimed at transforming the way KIB engages with customers across every touch point and communication channel. This new strategy focuses on offering a next-level customer experience that delivers much more than just ‘banking’ in the traditional sense—but rather establishes KIB as a partner in every aspect of its customers’ lives; a true ‘Bank for Life’. “In today’s rapidly-evolving world, change is a must to ensure growth, development and sustainability—in individuals and organisations alike.” How important is change management at KIB? “KIB is well aware that constant change is the new reality. With this unprecedented scale of change sweeping the banking industry, we realise that change management must be institutionalised across the entire organisation for greater internal agility. Successful change management has become increasingly important for the sustainable development of organisations including financial institutions. “KIB has adopted a formal change management approach, which has led to the seamless adoption of new products, systems, channels and process. Our effective change management process has us on top of changes in compliance rules, bank processes, and practices which ultimately, results in a strong competitive advantage while mitigating risks.” How does KIB’s new brand identity tie into its new strategic direction? “The underlying spirit of KIB’s unique strategy is embodied in its new brand and corporate identity. More than just being an update to a decade-old logo, the fresh and modern look is reflective of the re-energised, progressive and innovation-focused Bank that KIB is being transformed into.
