Bank of Georgia is rolling out an ambitious project in Tbilisi designed to appeal to the affluent segment of the market. Working with Milan-based agency DINN! the result is not only a visually stunning branch but one that respects the historical and cultural local heritage, writes Douglas Blakey
Bank of Georgia, along with rival TBC, dominates the banking sector in Georgia. By assets, Bank of Georgia has a market share of around 35% with similar market shares by loans and deposits in the mid 30%s. Despite its market strength, Bank of Georgia can win market share in the growing affluent sector and so is working with leading Italian design innovation firm DINN! to target wealth management client wins.
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Bank of Georgia’s new branch in Tbilisi is like no other in the region. And a glance at the images demonstrates that it will have few equals for originality around the world.
The aim is simple to define but harder to craft. The bank briefed Italian design consultancy DINN! – the agency represents the mix between design and innovation – to deliver the project.
Among a number of challenges, the branch project requires to respect local historical and cultural heritage. In addition, the branch aims to optimise the customer experience inside a stunning environment. Finally, the project brief is to deliver for the bank successful business returns on the investment.
DINN! has a strong track record in conceiving international high-end value projects. In particular, it envisions brand touchpoints and experiences through branding, service design, interior and architectural design and digital touchpoints.
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By GlobalDataGeorgian mix of tradition and innovation
Georgia is developing a strong international reputation for encouraging innovation. The country’s banking sector comprises 15 banks but is heavily weighted towards the two market leaders. For example, the country’s third-largest bank has a market share by assets of only 5%.
The local economy is growing with GDP growth in the first half of 2019 of 5% year-on-year. The country’s affluent segment is small but growing and one that Bank of Georgia can target for market share growth.
And so it teamed up with DINN! to design a branch capturing the history of Georgia. At the same time, the branch promotes bank’s values and the opportunities it offers, all designed to offer the affluent segment something unique and visually appealing.
A key early call is the choice of location. The bank is taking the opportunity to revamp and enhance one of its own properties, the very first bank branch in the country. The bank believes that the physical touchpoint is a fundamental “moment of truth” for the brand. And an opportunity to give a face to the bank by a memorable customer experience while enabling clients to discover Georgia’s uniqueness.
In search of the magic formula: mixing digital and physical
Banks around the world are trying to marry together the best of the physical channel with all that digital can offer. Moreover, banks are trying to offer something distinctive that can still deliver a return on investment.
The bank along with DINN! kicked off the project by redefining its brand values. The result is the design of a new visual identity. That combines with the retail experience and theinterior design for the flagship outlet with the technical support by BUILT, part of the DINN! agency.
Having identified the stunning location, a bank branch dating back to the 19th century the goal is transform the space into a ‘destination store’.
Bank of Georgia winery adds to store’s appeal
The customer experience starts from a concierge welcoming in a branch that will be a starting point or a celebration of Georgian heritage. Examples include Asomtavruli writing, an ancient unique alphabet, with poetry quotes carved in the furniture.
A mirror glass in the middle of the space reflects a beautiful ceiling. It also highlights the richness of the local water. There are also spots flagging up local food and wine as well as local culture and the arts.
Indeed wine features in an Austrian safe room dating back to 1903 with a winery and a sommelier. So clients can browse, taste and buy the most leading Georgian and European labels.
The branch operates with a front-office completely dedicated to clients, with the concierge desks and eye-catching meeting rooms.
The end result is a branch promoting the bank’s distinctive appeal to the target market segment. And while the affluent segment demands the best that an omnichannel service can deliver, Bank of Georgia believes the new outlet also delivers the best possible personal service.
