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The Spark | Ignite/Connect/Achieve www.thesparkng.com Amaechi Okobi on The New Brand Identity Amaechi Okobi is the Head of Strategic Brand Management at Access Bank Plc. In this interview with us, he gives an insight into what can be expected with regards to the new brand outlook in the wake of the merger between Access Bank and Diamond Bank. By John Iyoha First reactions at the news of the merger My first reaction was one of excitement, the fact that we have a five-year strategic plan that involves a certain number of customers and now, with this merger, we are well ahead of schedule to achieving that goal. I was also excited because I know Diamond Bank and I know what they are good at. I also know what we are good at, and so the idea of these two companies coming together definitely excited me. Additionally, from a legacy standpoint, I was excited to work on something this huge. The most important part of external communications around the merger This has to be the fact that we both have customers that love both brands. Letting them know that all is well in the midst of all of this is critical. The essence of the bank they know and love will remain intact, and communicating this has been paramount. Coming together was done for the sole purpose of giving more value to the customer. Getting staff onboard during this merger process It’s critical. For everything you do, your employees are your first point of call. A lot of uncertainty can come with a move like this, putting your staff in the know at every turn is how we averted the panic that comes with change. Staff can be your biggest advocate, and if you take them along the journey and they are comfortable knowing they have all the information they need, they will be great allies. Considering differences in corporate culture, how has the synergy between both banks been during this transition process? Diamond Bank is more of a retail bank, and Access Bank is more of a wholesale bank, and we are both good at what we do. There are also differences in our corporate culture, for example, the dress code - when your focus is retail versus when it is wholesale, there will be a difference. So, yes there are differences we would have to learn from so that the larger new entity can operate as one. We are focusing on each other’s strength as we try to downplay the weaknesses with a mind to moving forward. So, there are synergies and it our job to find them and exploit them. The most challenging part of the communication process so far Trying to get information out on time, trying to inform our staff and customers before the rumor mill does. Staying ahead of the pack on stories that concern us is the challenge. Changes we should expect about the new brand identity and culture It’s not too early to talk about what the new entity and brand will look like, the logo that you all know as Access Bank or Diamond Bank will definitely evolve. Just as we are merging businesses, customers and employees, we are also going to merge the logo. The logo will be considerate of Access Bank and their customers and their love for the brand as well as Diamond bank and their customers and the love for the brand What’s next? Right now, most of our staff are all excited. We all want to succeed and we know that this merger is a step towards that success. We are looking forward to it. “The essence of the bank they know and love will remain intact, and communicating this has been paramount.” 26 @thesparkng
www.thesparkng.com The Spark | Ignite/Connect/Achieve Robert Giles on Retail, Tech, and Innovation Head of Retail Banking, Diamond Bank PLC, in this interview with The Spark team highlights the expectation between the marriage between Access Bank and Diamond Bank, especially as it concerns retail, technology, and innovation. By Ayandola Ayanleke Thoughts on how the merger will play out We have a unique opportunity to combine the retail strength of Diamond Bank, with the corporate strength of Access Bank, to produce a bank that has something for everyone. We expect to deliver better outcomes for customers in terms of speed, security, and service. Diamond Bank customers will benefit from the strong treasury services and products from Access Bank and Access Bank customers will benefit from the retail products of Diamond Bank. We have already announced that 3,100 ATMs can now be used for free by customers of both banks – giving a tangible benefit in the pockets of our customers. As we get closer to the legal merger, the same will be rolled out for transfers, cheque clearing and of course access to a much-enlarged branch network. The key focus for retail services With the combination of both banks, we will truly be ‘a place for everyone’. We will continue to support financial inclusion through our partnerships with MTN and Airtel to provide digital financial services. We will enlarge our proposition to support market traders – BETA – and we will combine our shared philosophy of supporting women and youth. For instance, we will roll out the W Power Loan across both banks very quickly. We also both share the philosophy on using digital to drive better outcomes for customers – we will continue to invest in digital solutions to financially include and serve customers better. Assuring the retail market We will like to assure the retail market that nothing will change! Please continue doing your business with us as you already have. Your account number will be unchanged. Your card and cheque book will continue to “Diamond Bank customers will benefit from the strong treasury services and products from Access Bank and Access Bank customers will benefit from the retail products of Diamond Bank.” work until its normal date of expiry. We are planning this merger around the customer and will not do anything to disrupt the things that work for you today. We will only enhance them. And we will keep communicating with you as we go through this merger so nothing comes as a surprise. As a customer, you are now a part of the largest bank in Africa by customers and will not only have access to the best service in Nigeria but in the key financial centers of the world – the UK, Dubai and soon in China. Ensuring a seamless service during the transition It is very important that there is no disruption for customers. We are working to ensure that whatever we do with technology, we will make it invisible to the customer who will continue to enjoy services in a seamless manner. Be that card, mobile app or internet banking or branch and ATM – we will be there for you when you need us. The entire integration plan is built on a simple philosophy – if a decision takes a service backward for a customer, we will not take it. Every decision we make will either retain a customer experience or enhance it. Plans to integrate the technology solutions of both banks We will bring our platforms together. This is a very unique situation in the country where two banks share the same banking platform and the same channel management platform which means we have a common understanding of each other. The most challenging part of the process so far We are really happy with how the process is going. We are ahead of our initial estimates on timelines for the legal merger, having obtained CBN and SEC approval in principle. Our focus will be on ensuring we keep communicating with our customers, staff and other stakeholders so everybody is up to date with the exciting progress of creating this strong institution. What customers should look out for We are coming together to give you more. Look out for our ATMs – you can use them for free whether you bank with Access Bank or Diamond Bank. Be ready for the launch of Diamond Xtra season 11, giving savers the opportunity to win salary for life. Look forward to free transfers and access to all of our branches from the date of the legal merger. And of course … look out for the Lagos Marathon on 2nd February – we are running it together! @thesparkng 27
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