In 2015, Bank of Georgia launched a mobile bank. Ever since, it’s been ramping up its digital transformation program. By all accounts, the bank is on to something, converting customers over to digital channels.
The following was produced by Tearsheet Studio. We worked with fintech software provider Strands to create a visual and audio case study about Bank of Georgia’s digital transformation.
Beginning two years ago, the Bank of Georgia began its journey toward agile development. It created cross-functional teams to develop banking products and to design the digital channels.
The company also turned to Strands, a software provider of cash flow management tools to banks, to help power its banking app. Strands’ Personal Financial Management Solution uses artificial intelligence to show people how they spend, and then help them do it better.
The two companies created a single team to work on the integration. The timeline was compressed — the companies went from signing a contract to launching a product in six months. They kept to their steering meetings religiously.
Customers are responding to Bank of Georgia’s PFM rollout. It’s had a big positive impact — firstly, on the customer satisfaction side. But secondly,
on the engagement side, too, because the bank is getting almost 39% daily engagement for its mobile bank, according to Levan Kobakhidze, Bank of Georgia’s chief digital officer.
Customers enjoy looking at the data insights, visualizations of different statistics on their transactional history. This allows them to make a lot of decisions based on how they want to manage their finances.
Download the case study to learn
- How Bank of Georgia approached its digital transformation within the digital team and across the organization
- The steps Bank of Georgia took to convert customers’ physical interactions into digital experiences
- How Bank of Georgia used PFM to increase app store ratings to 4.7 of its mobile app
- Bank of Georgia’s plans for transitioning business customers to digital