#10
SBM
SBM, as a bank brand, istransforming customer experience through customer obsession; and in turn, its focus on customer obsession is reshaping the banking landscape.
The catchall phrase, “Build it, they will come,” no longer holds water in the age of the discerning customer. In the financial services sector, the role of banks has evolved from somewhere you go, to something you do, making it ubiquitous. It is this very reasoning that led the SBM brand, headquartered in Mauritius, to build not just a bank, but a brand focused on customer centricity.
The secret sauce of customer focus at SBM is its people. To be customer-obsessed at SBM, one must be driven to give the customer wonderful experiences and help them meet their needs within reason. Typically, this means the bank’s Elite Banking team meets you, the customer, in the comfort of your office or home, to have tea with you and your favourite pet, Whiskers, as they discuss all-matters estate planning and tax advisory. SBM comes to you to discuss your business, because this relationship investment will ensure you have ‘A Smarter Tomorrow’, as the bank’s slogan suggests.
Today’s financial sector is vibrant and dynamic, owing to evolving market and global forces. The sector serves Kenyans of all cadres, and each customer has their own unique set of needs. The corporate customer is looking for convenience and innovation that will improve the efficiency of their enterprise, whilst the small and medium enterprise (SME) owner is looking for leverage to grow their business and open new horizons through access to affordable financing solutions. On account of this, customer experience is a critical aspect at SBM, considering that customers have more options for their banking needs.
SBM has maintained excellence in customer experience by banking on a winning formula that focuses on innovation, sustainability, environmentalism and creating unique and personal customer moments backed by positive employee experiences.
The bank understands that strong relationships are the cornerstone of customer loyalty. Through its dedicated team of relationship managers, SBM goes beyond traditional transactional interactions. These skilled professionals take the time to understand each customer’s unique financial goals and preferences, tailoring the bank’s offerings accordingly. By cultivating these personalised connections, SBM builds a foundation of trust and loyalty, ensuring customers feel valued and empowered.
Furthermore, SBM is focused on creating immersive retail experiences. The bank has raised the bar by incorporating the latest insights from design science into its 41 branches distributed around the country. The design of its branches plays a crucial role in shaping its customer perceptions. From the moment customers step into an SBM bank branch, they are greeted with an atmosphere of warmth and sophistication. Comfortable waiting areas, streamlined service counters, and a harmonious blend of aesthetics and functionality create an immersive and customer-centric environment.
Hellbent on upholding its commitment to inclusion and diversity, SBM has also taken steps to cater to customers with hearing impairments by training staff in sign language. Moreover, the majority of the bank branches offer ramps and lifts to ensure convenient accessibility for individuals using wheelchairs. These adjustments have resulted in an experience that leaves a lasting impression, and sets SBM apart from its competitors.
SBM acknowledges that time is a precious commodity for its customers. In a world where every second counts, the bank has implemented innovative strategies to optimise the efficiency of the customer’s time. One standout feature is the elimination of queues at banking halls. Leveraging on technology and efficient service processes, SBM ensures that customers receive undivided attention without the frustration of waiting in line, demonstrating its unwavering commitment to putting customers first.
In the present era of digital transformation, SBM is embracing technological innovation to provide seamless and convenient banking experiences. The bank recently underwent a comprehensive upgrade of its online banking services, introducing simple and innovative digital solutions. Through a user-friendly and secure platform, customers can effortlessly access their accounts, make transactions, and manage their finances anytime, anywhere. This effectively minimises paper usage across all branches, demonstrating SBM’s heightened environmental awareness. SBM believes in empowering its customers with greater control and convenience, delivering a truly customer-centric banking experience.
The bank’s relentless pursuit of customer obsession sets a new standard in the banking industry. By prioritising personalised relationship management, creating unforgettable banking experiences, and harnessing the power of technology, SBM is reshaping the way customers engage with financial institutions. Through a commitment to building strong relationships and leveraging technological advancements, SBM ensures that its customers receive unrivalled service. As the banking landscape evolves, SBM stands at the forefront, redefining customer centricity and inspiring trust and loyalty in its ever-growing customer base.
The focus on innovation, sustainability, environmentalism, employee, and customer experience has resulted in a customer satisfaction score of 90 percent and a Net Promoter Score (NPS) of 66 percent, whilst the industry average is 55.8 percent, indicating strong customer satisfaction and loyalty. At SBM, things may not always be done perfectly, but it is from those instances of falling short that drives its obsession to learn and improve. This ensures that every customer receives the best experience daily, as SBM persistently pursues its goal of achieving ‘A Smarter Tomorrow.’
