Johannesburg, South Africa | THE INDEPENDENT | Absa on Monday launched its repositioned brand to the market signalling a shift to being a more deliberately customer-centric business with the new brand promise of ‘Your Story Matters’.
According to Arrie Rautenbach, Group CEO of Absa, the bank has set a clear trajectory to ensure that Absa’s entire suite of services and offerings lives up to this crucial pivot towards a more human-centred, empathetic banking service ethos across the continent.
“As a full-service bank, we cater for customers from all walks of life – from clients who only interact with us digitally, to those who prefer the reassurance of talking to one of our colleagues in-branch, we are a bank for all seasons,” says Arrie Rautenbach, Group CEO of Absa.
“Your Story Matters is more than a strapline, it is a declaration of our intent that our customers are much more than mere account numbers, they matter to us and so do the stories behind the individuals. Gaining this context will allow Absa to serve them in a more meaningful manner,” he adds.
Rautenbach said the refreshed brand strapline is part of the business’ ambitions to align their offerings and brand experience with their internal corporate purpose launched last year of ‘Empowering Africa’s tomorrow together, one story at a time’.
The reimagining of the brand follows a detailed review of customer insights, feedback and research. “A very consistent message comes across in research into perceptions of banks and banking,” says Sydney Nhlanhla Mbhele, Absa’s Group Chief Marketing and Corporate Affairs Officer.
“Customers feel that the relationship is one-sided and that banks don’t understand either their life situations or their individual needs. This often leaves them feeling helpless as well as disconnected from opportunities to improve their individual or business prospects,” he adds.
Already, in four African markets Absa launched Women in Business offerings to directly address the needs of female entrepreneurs, supported by mentorship programmes that have contributed to the performance and sustainability of women-led businesses. Absa’s financial literacy projects and ‘Ready to Work’ programmes continue to ensure that our customers and youth are supported with knowledge in order to be informed, savvy economic actors.
“This repositioning is not just a marketing exercise – it is a company-wide business transformation and reaffirmation of a more human-centred approach to banking coupled with a seamless experience across our touchpoints. The entire company has bought into this renewed vision, and we have worked tirelessly to take our colleagues, particularly our frontline on this journey. While this is the beginning of the journey, customers can expect improved levels of service experience, underpinned by empathy,” adds Mbhele.
This bold repositioning of the Absa brand comes five years after Absa became a standalone African bank and marks a significant point in its growth and development.
“We are a customer-centric bank and continuously transform the way we operate to meet our customers’ needs outside the realm of traditional and conventional banking. This new brand promise will only reinvigorate our efforts to put the customer at the heart of everything we do, allowing us to connect deeper,” said Mumba Kalifungwa, Managing Director, Absa Bank Uganda.
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