What are your views on the marketing trends currently present in the banking industry?

The use of digital marketing using social media channels, including SMS messaging, continues to grow as the major marketing trend within the banking industry; this means of communication is preferred based on its cost effectiveness, ability to measure views and can be targeted to all or selected segments based on the message.

What would you say are the best strategies for marketing in the banking industry?

The Middle East has one of the highest penetrations of users who use social media as a means of communication and for information gathering. The days of banks using TV, radio and print material to communicate with their customers has shifted to digital communications. Handheld devices [mobile and tablets]are in the hands of the majority of the population and the best strategies to use is via social media.The percentage of customers who apply for a financial products via mobile will also grow as more banks support this option for mobile-savvy consumers. The key will be to combine customer analytics with mobile delivery to drive sales.

What are the challenges currently faced in marketing for the banking sector and how would you suggest to address them?

Digital disruption has impacted the banking sector and financial services industry on a global basis. While most disruptors are smaller niche players that won't grab substantial market share from traditional banks, they still threaten profit margins by gaining small market share which was not a threat previously. The biggest threat is that banks lose their daily connection with consumers and businesses and the flow of customer insights slow down.

How important are loyalty programmes to a financial institution?

Loyalty programmes are indeed a very important tool for both the retention and acquisition of customers. Loyalty too allows for further branding awareness. As banks compete for market share and to meet the demands of it customer segments a well-managed loyalty programme with a long term strategy is vital to ensure cost-optimisation.

What are the trends in CSR programmes in the region?

As CSR activities continue to become more important to the wider population as it relates to national and global agendas the era of pure donations has shifted to that of a more strategic and sustainable approach to CSR activities. A fundamental framework towards sustainability activities anchored to agreed principles allows for focus.
Trends are related to customer service, staff well being, activities of the bank and are in turn related to environmental, investment in business involved in environment friendly activities, community investment and stakeholder engagement on 'materiality assessment'—the process of identifying those issues that are at the core to the bank's sustainable development. These are all important to us as it allows focus for reporting and informs our strategic approach.

How does the bank choose which CSR initiative to pursue?

Our sustainability framework represents the integrated approach we are taking to make our business more sustainable. The bank has identified five priority areas to organise our approach, tied to Islamic principles of good governance and management. The framework has been developed in alignment with our business strategy and our most material sustainability issues; the five areas shape the development of our sustainability strategy. The Saudi Investment Bank [SAIB] has a significant opportunity in its ability to contribute to and shape sustainable development. As a bank, we play a fundamental role in society. We catalyse economic growth and stability by facilitating the flow of finances in society. We also have the power to influence the direction of that growth so that it becomes more sustainable, accessible, and inclusive, through the design of our products and services and the projects and businesses we choose to finance.
As earlier stated, our approach to sustainability centres on the five focus areas of our sustainability framework that capture our most material sustainability issues. The annual identification and prioritisation of our material issues is informed by frequent dialogue with our stakeholders.
We strive to build lasting, trusting relationships through an open and constructive dialogue and by considering stakeholders' views when we make decisions. We also seek to provide timely, reliable and fact-based information about ourselves, the financial sector and the economy so that our stakeholders have an informed basis for their views and decisions.

Describe the importance of social media interaction for the bank?

A focused approached linked to a strategy is important to achieving success using social media. Based on this approached these channels have proved a huge success for the bank. We continue to retain the number one ranking in the banking sector across social media channels in relation to the number of customer interaction is has achieved—likes, clicks and views.

What other social media initiatives do you have planned for the bank?

Content aligned to the targeted audience linked to ongoing engagements are vital for all current and future initiatives using social media. Strategically the bank remains a step ahead and vigilant in terms of the new trends and demands of or exiting and potential customers using social media channels.

What is your vision and goals in developing's brand?

The brand remains at the heart of the bank's 40-year success. One of our key initiatives, which formed part of our five-year strategic plan, was to assess our brand and its positioning for the future. Linked to a new vision and mission and through a thorough process, which started in 2015. In April this year, SAIB launched its new and revitalised brand as well as its brand guidelines in alignment with the five year strategic plan. Our vision is to offer the simplest and most accessible products and services to each of our customers and our brand will continue to support this vision in the near future.

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