How do you develop a bank in collaboration with your customers?
The international financial crisis created a massive loss of trust towards the world of banking across Europe and the US and it fundamentally changed the way customers perceived Danske Bank.
In the wake of the financial crisis and challenged on their brand and core values, Danske Bank launched the campaigns "Din Mening" ("your opinion") and "Bedre Bank" ("a better bank") as part of a long-term image improvement process. More than 3000 customers let their voices be heard on the website, but crucially, even more expressed their opinions about the initiatives on web platforms outside of Danske Bank's control. In order to relate to the new situation and to re-think and re-establish a close relation between the bank and its market, Danske Bank asked us for advice.
In close collaboration with the bank and through an involving development process together with some of Danske Bank's most important stakeholders, we developed a vision for how the bank should act digitally and engage their stakeholder online in the future. The result identifies and prioritizes a set of strategic goals, the most important target groups and a set of hands-on initiatives that should be employed internally and externally to achieve the goals of the vision. Among other things, Danske Bank lacked the knowledge and tools for listening to the market and identifying relevant conversations. They also needed to address the organizational set-up so that the right employees could participate in conversations quickly and accurately.
The result of our collaboration with Danske Bank was a process anchored broadly in the organisation, a social vision and a set of business prototypes, that provided solutions to the bank's challenges and which puts these solutions in a larger strategic context.
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