Qorus Banking Innovation Awards 2019

Smartbank - Smart way of living!

10/09/2019 Banking Innovation


Innovation presentation

Millennials segments have been the last in the list of traditional banks not far ago. However, they are the cornerstone for future and growth. Their needs and behaviour are quite different from traditional segments. Different values, different ways of living, different expections!.

Universities segment and business line have allowed Santander to keep in touch with that reality and to value the worth of segment in its entirety but our value propositions even though they were chasing this segment's need still didn't catch up to the fullest in our banking journeys and experiences and our reach itself.

SamrtBank is born from both competing with neobanks and to extend universities segment, because at the end, millenials by definition are way beyond universities profile. It is much more ample. So we decided to twist our approach and reach them. And we did it.

On april this year we launched our first 123 Smart Account with a very specific media message and distribution/ sales / customer service approach. We delved into the world of deep communication engagement following our millenials in things like Games of Thrones advertising, connecting with their preferences and emotions; and then we knew we have to be there, in their lifestyle events so we engaged into being in events like Mad COol Festivals.

But being with the millennial was not only advertising/communication, events and accounts and a new service model, we offered through out shopping platform deals that we know are beneficial to them whether from needs or pleasure/leisure. TOgether with San Universities we have developed services in order to help very young millennials to engage in career development; and with risk team to help them to find home whether renting or buying in a more easy way, by modifying / adjusting the requirements of bank guarantees.

In this way we have a value proposition leveraged on competitive advantages that allow us to compete with incumbents and challenger banks (N26, BNXT, Revolut)

Uniqueness of the project

1. University Segment gives us big size advantage for getting to know and getting to acquire a portion of the market

2. SmartBank team is Millenial

3. Smart Bank value proposition compared to other incumbents and many challenger is beyond traditional banking

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