Page 48 - Capricorn IAR 2020

FINANCIAL DIRECTOR’S REVIEW STRATEGY AND MATERIAL MATTERS GOVERNANCE REPORT
Meeting customer needs and expectations
Customer-centricity means delivering the brand promise to customers across every interaction and touchpoint. It requires unique and differentiating customer experiences. We have to focus on the problems we can solve for our customers, how we can deliver value and retain them for life. The availability and use of data management, statistics and analytical modelling are essential to understand needs. Customer complaints are a valuable source to uncover expectations and reveal improvement opportunities.
We monitor all social and media channels as part of reputation risk management, and to inform relevant customer initiatives, making sure we invest in the areas that have a real impact on improving customer experiences.
We developed and introduced new products to meet customer needs:
• Bank Windhoek launched the Selekt Gold and SelektSaver products for the retail affluent segment, introduced a bundled fee and embedded bancassurance
• A revised and enhanced student loan product offers an increased study amount in line with current tuition and study fees in the market
• Bank Windhoek introduced an account for Namibia Students Financial Assistance Fund study grant recipients
• Bank Gaborone launched two new retail products and five new market identifier code (“MIC”) loan
options to councillors and government employees
• Cavmont Bank launched SPENN, a mobile money application, in February 2020. Read more about this in
the case study on page 26
We also made progress in meeting customer needs and expectations through the following operational improvements:
• External market research to provide data-driven content was completed for Bank Windhoek and Cavmont Bank
• At Bank Windhoek, the turnaround time for instant card issuing has been reduced from three days to seven minutes and the service acquisition turnaround time improved from 90 to 35 minutes
• Total merchant profiles at Bank Windhoek increased with more than 180
• Bank Gaborone opened three new branches with all brand renovations in the Group aligned to the
“branch of the future” concept
• Bank Gaborone activated six new ATMs and Bank Windhoek activated nine
• Bank Windhoek issued more than 350 point-of-sale devices with more than 100 new merchants created.
More than 250 new point-of-sale devices were deployed by Bank Gaborone and more than 80 new
merchant profiles were created
• Cards can now be issued instantly at Bank Gaborone, compared to a waiting time of up to 14 days previously
• At Bank Gaborone and Cavmont Bank, several back-office processes were centralised, reducing customer
complaints relating to errors and processing delays
• A new queue management solution was implemented at three branches (Mariental, Ongwediva,
Lifestyle) and self-service kiosks placed at eight branches (Mariental, Ongwediva, Oshakati, Lifestyle,
Main Branch, Maerua Mall, Swakopmund and Walvis Bay)
• New brand signage was completed for Bank Windhoek branches and offices, giving a visual impression of
STAKEHOLDERS THAT HAVE AN INTEREST IN THIS MATTER
Customers
Government and regulators
Shareholders Communities
Strategic alliance partners
a progressive local bank
RELATED STRATEGIC CHOICES
RELEVANT PRINCIPAL RISK
Reputation Strategic Operations
BOARD OVERSIGHT
BSEC
Building our foundation Win through operational excellence
100 80 60 40 20 0
Customer satisfaction ratings (%)
Group CEO’s report from page 23
Customer satisfaction score (%)
July 2018 Bank Windhoek July 2019 Bank Windhoek July 2020 Bank Windhoek
Net promoter score (%)
July 2018 Bank Gaborone July 2019 Bank Gaborone
Customer effort score (ease of doing business) (%)
July 2018 Cavmont Bank July 2019 Cavmont Bank
46
Bank Gaborone and Cavmont Bank did not participate in the 2020 DSQ research and therefore no data is available for these two banks for 2020.
52 62
32
72
70 53
55
60 49
72 83
78
71
89
83 82 80
80 82
81
89