Business consultancy project
- Bu səhifədəki naviqasiya:
- Implementation
- Partnership with Pasha Bank
| 0 Balance Options
|
49% |
48% |
45% |
4% | |
|
4% | |||||
|
Partnership Services |
48% |
48% |
45% |
6% |
2% |
Table.16 Subscriber count of MVAS services
|
Subscriber count |
2017 |
2018 |
2019 |
|
Bookmate |
172,470 |
175,000 |
208,237 |
|
Zvooq |
293 |
31,571 |
314,562 |
|
Entertainment |
14,457 |
39,714 |
55,454 |
|
Mobile TV |
- |
- |
93,332 |
|
Mobile Cinema |
- |
- |
82,726 |
The increasing popularity of the Value-Added services, the deployment of the value stream through the VAS expansion can be regarded as a trigger for customer retention and new revenue stream generation. The horizontal expansion of product ranges by VAS can create additional opportunities for company.
The enhancement of Data usage
No cannibalization of traditional services.
Simplified CAPEX and OPEX cost
No Investment costs
Increase Customer Loyalty
The value-added services create the additional revenue and do not replace any traditional services consumptions and conversely launch of VAS boosts the data consumption as most of the services are being used by Data services. Besides for the implementation of the services not additional technical equipment or hardware and software upgrade requires. Company does not require any investment costs and the service fee can be limited by OPEX costs. Besides, the deployment of the additional user-friendly services reinforces the customer loyalty to the company. (The Business of Tomorrow, 2018)
According to the aforementioned factual information, the implementation of Mobile Financial Services as a new Value-Added Service can be considered as the new value stream.
Implementation
Introduction.
Mobile Financial Services is in the development stage in Azerbaijan. Majority of banks are working on integration to the online and mobile banking systems. Mobile operators are also assisting the mobile payments through their websites, and the connection to the online payment tools is available from all three operators` website and mobile applications. Moreover, the government regulatory bodies express direct support in the development of the financial services in Azerbaijan. The strategic roadmap which was developed in Y 2017 comprises the short term and long perspectives of the financial service integration for the period 2020-2025. The primary intentions of the roadmap is to strength financial inclusion and extend the financial services channels through alternative digitalized services. (Azerbaijan Economic Reforms Review, 2017)
In compliance with government support and internal digitalization strategy, Azercell is considering the submission of mobile financial service as the new value proposition. In comparison with other developing countries, the banking sector is well developed, and financial inclusion is considerably modest in the country. Based on this, Azercell is planning the Collaborative Model structure in the deployment MFS. The in-depth evaluation of the Banking sector endorsed the cooperation concept with Pasha Bank.
Partnership with Pasha Bank
According to the completed questionnaires’ results, 48% of all Azercell subscribers choose Pasha bank as the best bank in terms of service level and customer orientation.
Traditionally, Pasha Bank was a corporate bank with high-level standards of service for clients and transparent “Know Your Customer” procedures.
Pasha Bank continually holds the highest position in the enterprise market. Currently, one of the main objectives of Pasha Bank is to enter the consumer market and expand the retail sector accordingly. Besides, Pasha bank is interested in the partnership with Azercell and negotiated with Azercell the possibility of launching joined MFS product.
During the interview process, both sides acknowledged the evidence of a mutually beneficial possible alliance between the bank and telecommunication operator. For instance, digital excellence and cutting edge professional software and facilities of Pasha Bank strengthened by the high quality of services, knowledge and skills of employees of Pasha Bank from one side and broad customer base, expertise of Azercell fortified by the fundament of European telecom business heritage (Telia Sonera’s experience) from another side may lead to a synergetic collaboration and invaluable experience strengthening positions of both Pasha Bank and Azercell in Azerbaijan.
Moreover, strong positions of Pasha Bank Tukey and Pasha Bank Georgia can foster the further development and inter-country telecommunication services leading to increased satisfaction of the Azercell customers traveling to Turkey and Georgia, the most popular traveling destinations for Azerbaijani citizens. Figure.44 Best bank by service level and by customer orientation.
Moreover, the organizational structure of PASHA Bank contains a separate award-winning private banking division. PASHA Private Banking established in 2010 is assisting high net worth individuals in managing their assets in effective and fruitful ways. It serves both the financial and non-financial needs of customers. For instance, Pasha Bank fortified by international partners provides the best available solutions in investment management, real estate, medical, educational, and other kinds of services to the clients (Private Banking, 2019).
Furthermore, PASHA Bank is the highest-capitalized private bank in Azerbaijan, with total equity of AZN 418 million, and ranking among the top-three banks with total assets of
AZN 4,696 million. Financial results reflecting the financial state of the Bank at the end of 2018 is reflected in the Table No 17 below.
Table.17 Pasha Bank Financial Results
One of the core competitive differentiators of PASHA Bank in comparison with other Banks is a commitment to the constant development of new digital products and services based on the appropriate digital strategy. The Bank uses the design-thinking methodology to develop its product and service portfolio. This approach provides essential information on customer needs and preferences, which is used in the design of products and processes.
The digital strategy of pasha Bank was formulated in 2017 for a three-year period. According to the 2017- 2020 strategy, Bank is concentrated on the digital transformation of all core operations and processes aimed at obtainment of efficiency and rocketing profitability based on sustainability.
Since its establishment, PASHA Bank and its subsidiaries have obtained numerous awards and accolades from prestigious international and domestic renowned Finance Magazines and financial organizations that reflect the leading position and extremely fast development processes ongoing inside the entity. For instance, 5 awards were obtained by the Bank in 2018 that triggers proactive performance of the Bank for meeting sophisticated and digital-oriented services expectations of customers in the future. (Pasha Bank, 2018)
Yüklə 1,95 Mb.
Dostları ilə paylaş:
