BUSINESS: 381 PRACTICES
Alpha Bank Group
The Alpha Bank Group is one of the leading Groups of the financial sector in Greece. It offers a wide range of high-quality financial products and services in the domestic and international market and has one of the highest capital adequacy ratios in Europe.
i3 is the Bank's internal innovation and new ideas competition. The competition is addressed to all employees of the Bank, motivating them to submit new, innovative ideas and proposals based on their personal experience. Its identity is composed of three concepts: inspiration, innovation and implementation. These three structural elements govern the competition in each of its stages, from the initial idea to the final implementation, aiming to improve the banking experience of the Customers and the creation of new innovative products and services, through and from the exploitation of the possibilities of the digital technology. Digital technology comes with the main purpose of improving the customer experience, which has emerged as a decisive factor for banks' competitiveness, in all channels provided for customer service: store, web, mobile banking, etc.
i3 is the Bank's internal competition for innovation and new ideas, which is addressed to the Bank's employees, motivating them to submit new, innovative ideas and proposals related to the upgrade of the Customer experience, based on their personal experience. The Program's identity is composed of three concepts: inspiration, innovation and implementation. These three structural elements govern the competition in all its stages, from the initial idea to the final implementation, with the aim of improving the banking experience of the Customers and the creation of new innovative products and services, in and by exploiting the potential of digital technology. Digital technology comes with the main purpose of improving the customer experience, which has emerged as a decisive factor for banks' competitiveness, in all channels provided for customer service: store, web, mobile banking, etc.
All employees of Alpha Bank
April 2021 to December 2021
The concept of the i³ 2021 internal competition is based on the pillars of Alpha Bank's transformation, which reflects the Bank's intention to contribute to the creation of original ideas linked to the Customer's perspective, the creation of new products and services, as well as upgrading the Customer experience through the improvement of internal processes.
The first phase of the competition started with the submission of the ideas of the participants, which were then evaluated by a Committee made up of members of selected departments of the Bank, in order to highlight the 10 best proposals. Afterwards, the shortlisted candidates received guidance from experienced colleagues in order to further develop and evolve their idea. In December, an Event was organized that was broadcast live throughout the Bank and during which the 10 finalists presented their ideas in front of Bank Executives and the three winners were announced. The jury selected the awarded proposals based on specific criteria: the innovation of their idea, its practical application, and above all the benefit to its Clients.
Employees have the opportunity to actively participate in solving chronic problems of their Customers and in diagnosing their new needs, regardless of their position, and are even rewarded for it. Their experience and their contact with Customers is valuable for the creation of products and services that meet the needs of the market.
Through the Program, employees have the opportunity to actively participate in solving chronic problems of the Bank's Customers and to recognize new needs and be rewarded for this. Gaining experience in matters concerning the Bank's Customers, contact with them and understanding their real problems is valuable and contributes to the creation of products and services that meet the needs of the market.
Colleagues from all over Greece participated in i3, in the first stages of the distance competition by digital means and in the Pitch Event held in Athens with a physical presence.
Collaboration with market representatives (the consulting firm EY and Startup Giving Streets) who transferred valuable know-how to the participants and analyzed new trends and market data through interactive workshops.
The entire competition has been set up and is based on the participation of the Bank's employees.
The Bank has found a way to "listen" to its Customers through the frontline people who come into contact with them every day. Thus it tries to adapt its products and services to the new demands of the market, [PM1]
The Bank finds a way to "listen" to its Customers through the front line people who come into contact with them every day. Thus, through their suggestions, it can adapt its products and services to the new demands of the market, in a way that ensures the satisfaction of its Customers. The tender has resulted in new products and services that through customer satisfaction, the Bank has managed to increase its position in the Market.
