A Norwegian savings bank presented the following problem to our advisers: “We are losing customers who prefer digital service to advice. We are not reaching our growth targets. We have identified two concrete digital growth opportunities, but need assistance to prioritize to find the best path going forward”.  

Ladder with target on top. Illustration.

Itera started by analyzing trends, customer needs, competitors and the market situation. Subsequently, comprehensive qualitative and quantitative analyzes of the two digital growth strategies were conducted against five criteria: price and product, market volume, digital self-service, costs and competitive situation. All data were compiled into a decision basis with evaluation of the two strategies, as well as a presentation of other measures for growth, including a targeted SME initiative.  

The basis of decision defined 

  • a growth potential in the SME market and digital white label. 
  • a lending potential in a specific corporate segment and how this potential could be realized. 
  • how ongoing growth initiatives could be scaled and supplemented with a new digital banking concept.