Differentiation of Gulf Bank in Kuwait
Gulf Bank’s major competitive edge is product innovation and differentiation in terms of excellent service.
Gulf Bank’s major competitive edge is product innovation and differentiation in terms of excellent service.
As part of a new strategy Gulf Bank launched an initiative to assess the needs of the market and its clients in particular. Gulf Bank discovered that the most important needs of its clients are speed and reliability. Based on their findings, Gulf Bank secretly revamped and re-engineered the internal processes and then launched the “We Promise” campaign; a campaign that caused a 50% spike in the daily loan and credit card volume.
“We Promise” is a program which aims to offer Gulf Bank’s customers the best and fastest service in Kuwait. Within this program, Gulf Bank is promising its clients the following: to deliver their Gulf Bank cards the same day, to disburse their loan the same day, to finance their dream car the same day, to deposit their salary in the early morning and to keep queuing time below 10 minutes.
The program affirms Gulf Bank’s commitment towards its clients in terms of accuracy, quality and time of transactions. The bank also guarantees that all customers will enjoy excellent and fast banking transactions thereby making their visit to the branches of Gulf Bank a productive one. “We Promise” is more than just a program. It is a culture that goes beyond typical customer transactions in order to satisfy all sorts of needs and requirements.