Company X
Growth hacking for a Kenyan Bank that placed Inclusive Innovation at the core of the strategy. The Result: A unique banking first, leading to sustainable wealth creation and financial inclusion for generations to come.
*This case study has been anonymised to protect the privacy of our client.
THE CHALLENGE
To grow a Nairobi-based commercial bank through inclusive innovative product development. What we found was that product and service innovation was anchored in one department without open dialogue and a cultural environment that was not conducive to innovation.
DELIVERED
6 Integral policy shifts within the organisation
A Transformed working environment conducive to creativity & collaboration
6 Product & service ideas.
2 New banking firsts for product & service innovation.
A product strategy for an entire suite of financial products, including prototypes and a go-to-market strategy.
STEP 1: CULTURAL SHIFTS
Workplace culture is a combination of the policies that create the foundation of the workplace and the ways in which individuals and teams communicate within that space. We designed a roadmap that included a workshop program for behavioural transformation to help shift organisational culture and systems to allow for the free flow of ideas between departments and create an environment that is safe, nurturing and open to dialogue, fostering employee wellbeing and in turn placing creativity at the core.
Companies with more diversity in management teams have…
19%
…higher revenues due to innovation, especially for tech companies.
*BCG report 2018.
STEP 2: INCLUSIVE INNOVATION
Building on the shifts created in the previous step, we took selected individuals from across departments and of different seniority levels and took them through a concentrated Inclusive Innovation workshop. Over the course of three days the team was able to identify gaps within their service offering and bring forward products & service ideas for how to better serve existing customers as well as acquiring new ones. This covered accessibility for existing products as well as specifically looking at ways the bank could cater further to female customers and their specific needs.
“Diversity drives innovation, when we limit who can contribute, we in turn limit what problems we can solve.”
STEP 3: PRODUCTION & DEVELOPMENT, PROTOTYPING
Our team took the ideas developed within the collaboration process and transformed them into tangible, workable product solutions, organising them into a suite of financial products tailored for the bank’s positioning, whilst opening doors to new paths for growth through a financial inclusion model. Through this approach, we were able to create a unique banking solution that facilitates financial mobility by bridging the gap between day-to-day financial security and generational financial stability to ensure both short & long term profits for the bank.
GENDER BASED WORKSHOPS
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INCLUSIVE INNOVATION
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DESIGN
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ANIMATION
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CONTENT CREATION
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GENDER BASED WORKSHOPS - INCLUSIVE INNOVATION - DESIGN - ANIMATION - CONTENT CREATION -