The world is changing fast, and banks have to innovate to keep up. Becoming more customer-centric is one of the keys to unlocking future growth. We helped solve part of the puzzle
The world of finance has been heavily criticised in recent years as one of the parties to blame for the financial crisis. Customer approval ratings hit an all-time low.
Rabobank thought it was time to change. Being one of the largest Dutch banks, with its strong agricultural roots and presence in all parts of Dutch society, it could make things happen. Customer-centricity was found to be a new direction to unlock future strategic growth. Fronteer was asked to develop and support a bank-wide initiative to co-create new value together with its customers.
We designed a two-phased approach. In phase 1 we co-created new concepts with Rabobank and its largest B2B customers. In phase 2 we held six large events: each time, 150 Rabobank employees and managers, together with 25 Rabobank customers, learned how to co-create new concepts.
The programme resulted in several new initiatives at local branches, of which there are one hundred across the country. At its Utrecht HQ, new business models have also been developed. One of them is an new lending approach, where wealthy customers provide loans to businesses. Rabobank is becoming a new type of bank, one ready for the future.
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