Project Phoenix aims to make the bank a platform for innovative financial services through new strategies set to revolutionize customer value and experience
Laying the foundation for a new phase of growth, Doha Bank, one of the largest private commercial banks in Qatar, recently launched project Phoenix, an initiative designed to build strong relationships across cross-functional groups at the heart of the banks’ transformation strategy. The first transformation meeting which was held at Banana Island on November 16, 2019 in collaboration with E&Y and presided by Doha Bank Group CEO Dr. R. Seetharaman, brought together Doha bank Senior Officials and included a series of workshops and activations aimed at encouraging cross-functional engagement and team building.
Focused on nurturing a culture of change to help its employees embrace and lead the organizational transformation that Doha Bank has undertaken, the workshop offered deep insights into new business strategies set to revolutionize the bank’s processes and to realign in an agile structure the prioritization of initiatives.
Commenting on the success of the workshop, Dr. Seetharaman said: “At Doha Bank, we have embarked on a new journey with a vision to reinforce our reputation as the bank of choice in Qatar, delivering superior shareholder returns and an unparalleled customer experience. With a radical transformation underway in the organization, it has become imperative for our senior employees to emerge as champions of change and lead the way in reengineering the processes and operations. The Corporate Offsite workshop offered us an excellent opportunity to engage our executives to facilitate a seamless and fast transition.”
With customers being at the heart of Doha Bank’s operations, the experts from E&Y discussed the bank-wide transformation initiatives and highlighted the importance of improving customer satisfaction by integrating and harmonizing all customer touchpoints for an omnichannel experience; This can be achieved by empowering Doha Bank employees to make decisions and by recognizing, during the event, the Transformation “Avengers”, the employees who are driving the change.
In keeping with the Bank’s desire to remain at the forefront of digital transformation, the program shed light on strategies outlined to drive digitization and automation across internal and customer-facing processes. It also highlighted the Bank’s blueprint for elevating talent development in the organization in order to hire, train and retain best-in-class talent, as well as to create a truly empowered and accountable workforce.
In addition, the program included strategic processes focused on risk and capital management to protect Doha Bank customers, shareholders and the bank’s reputation, as well as on the importance of reducing the cost to improve margin and enhancing revenue through diversified sources of income and resource allocations and budgets to ensure sustainable growth.