This organization has the largest small and medium enterprise (SME) portfolio among the 60+ banks in Bangladesh. Aided by its Founder’s vision of targeting the ‘missing middle’ in banking landscape, this bank has successfully kept a dogged focus on small businesses. But because of the nature of interactions required to serve this customer segment, it was proving to be quite costly to scale significantly. pi STRATEGY was invited to craft the bank’s 5-years strategy with a special consideration on how scaling up could be engineered without incurring a commensurate increase in its cost structures.
pi STRATEGY collaborated with the bank’s C-suite to develop the multi-year strategy. Its analysis also included applying human-centered design (HCD) principles to uncover latent opportunities within the target segment of interest. pi STRATEGY’s global network of experts were actively engaged on this assignment. For example, a Stanford d.school colleague from California worked on the HCD activities and a digital banking domain expert (a PhD) from Mumbai worked on digital transformation strategy. The end result of this collaboration has fueled considerable profitable growth for the bank.
Since its early collaborations with the client yielded impressive results, pi STRATEGY has been invited time and again by the client to collaborate on strategy recalibration efforts in subsequent years as well as focused operational strategy formulation efforts for core business initiatives.
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