I&M Bank Limited has launched an enhanced set of financial solutions that will be tailor-made to serve the financial needs of each customer.
The new value propositions will support the Bank’s strategy of deepening penetration into the Retail and MSME segments through tailor-made customer solutions.
For each customer segment, the Bank has clearly defined their banking needs using “personas” – these are based on the customers’ different stages in life and their changing financial and lifestyle requirements.
The enhanced product offerings are then designed to meet the unique needs of each segment persona, with customers having the choice to select the set of financial solutions that best align with their business and/or personal requirements.
The segments identified include “the Game Changer” – Small Medium Enterprises (SMEs) and Micro, Small, and Medium Enterprises (MSMEs) who are focused on growing and improving their business; “the Industry Shaper” – Corporates seeking to maximize profits and business efficiency.
The others are “the Legacy Builder” – high net worth and premium clients keen on wealth management advisory services, and “the Dream Chaser” – young professionals concentrating on education and career enhancement.
Initially, the Bank is introducing two new transactional accounts for Personal and Business clients, namely, Pay As You Go (PAYG) and Club account.
Current I&M customers will be upgraded to the new accounts based on their transactional needs and lifestyle requirements.
The accounts will be backed by a distinct payment card offering that comes with value-added benefits tailored to suit the lifestyle of each segment through a strategic partnership with MasterCard.
Commenting on the development, Kihara Maina, CEO, I&M Bank Limited noted, “We aspire to be more than just a bank, rather we seek to be a financial partner that strives to impact and grow with our customers through the provision of reliable and convenient digital solutions.”
The new solutions look to support business growth, primarily through the customer-centricity offered by digitization.
To this end, recently the Bank launched an internet banking platform known as I&M On-The-Go (OTG), which over time will allow customers to access all the Bank’s products and services in real-time.