Businesses of all kinds are subject to environmental and social shifts that impact productivity in an increasingly converged world, said Doha Bank Group CEO, Dr R Seetharaman.
He was speaking at a knowledge-sharing session organised by Doha Bank at the Four Seasons, Doha, on Monday night.
One of the key trends emerging from the rapid digitalisation of the world is a shift in stakeholder awareness, as well as the fact that today’s average customer is keen to derive added value to his relationship with a brand.
“Doha Bank has documented cases where customers and the business community benefit mutually from diversified partnerships with industry leaders in various sectors. The Doha bank LuLu shopping card is a key example of such a collaboration, delivering both monetary value and prestige to customers as well as to both the entities.
“The credit card was recently adjudged the best in the Middle East for the ingenuity of delivering both customer savings on all purchases as well as working seamlessly to deliver promotional campaigns that add even greater value to everyday household and personal spending.”
Another example of collaboration delivering great value to the customer is the recently launched Al Hayer GCC and Mena Fund, which combines the local knowledge of Doha Bank, which instituted the fund and has operations in the UAE and Kuwait besides Qatar, along with the international fund management expertise of the fund manager ING Investment Management.
“Al Hayer Fund aims to deliver better earnings to investors seeking to participate in the GCC and Mena equities. The fund is a Class A open-ended fund that is currently in its initial subscription phase and receiving strong interest from Qatar investors, including individuals and institutions.”
Seetharaman said Doha Bank aimed to contribute positively to the community and these knowledge-sharing sessions bring together leading visionaries and partners, who can help accelerate the pace of development in key areas that will improve innovation in products and services as well as deliver a greater customer experience.
In his presentation, Michael Allen, founder and managing director of Allen International said: “Power has shifted to those who understand the digital space, which represents a very large portion of the world’s population. And change is being driven by the Internet. This means that consumer expectations have changed. Because choice is abundant, transactional behaviour is also changing. The individual is in control of not just the channels he or she uses but the services utilised.”
Doha Bank’s head (Retail banking) Suresh Bajpai spoke from a bank perspective about winning customers through collaboration.
“Today’s customer wants to make the most of the congregated world and be able to utilise multiple consumer channels to complete their banking tasks, while also demanding the added value that makes the relationship fruitful.
“The most successful corporate level partnerships are the ones that filter benefits down to help customers gain the most value out of their relationships with the brands. And this is often a tangible monetary benefit or value in kind.”
Among others who spoke were Khalifa Haroon, founder of ILoveQatar.net and Vodafone head (Innovation and Interactive); and Furqan Athar, partner and director, strategic planning – finance, at McArthur and Company.
During the event, Seetharaman handed over trophies to a number of Doha Bank’s longstanding partners who have delivered “performance and value to customers”.