Diamond Bank

Diamond Bank Facts and Figures:

  • Established in 1991
  • 1,500,00 customers                  
  • USD 7,3 billion assets
  • Head Office in Lagos, Nigeria, 6 additional sites: Ivory Coast l Benin l Togo l Senegal l Burkina Faso l Mali
  • One of the fastest growing bank in Africa, now 8th bank in Nigeria, 36th in Africa
  • 225 branches
  • 1,500 BankWorld ATMs
  • 900,000 BankWorld Internet users
  • 1,750,000 BankWorld Mobile users

The Challenge

Diamond Bank was faced with the all too common difficulty of managing different software for each channel. Every new product being launched would take significant time and work, ending in inevitably high costs for the bank. As well as paying too many licence fees, Diamond Bank faced problems with crowded branches and the migration of transactions to self-service channels. Diamond bank knew that managing their channels in silo would not help to meet their customer focused strategy.

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The Solution

Diamond Bank, a leading bank in Nigeria, began working with CR2 by utilising our BankWorld ATM solution before embracing omnichannel while expanding across West Africa. The bank began their search for a new multichannel solution which would enable them to meet all of their challenges. They were already familiar with Bank World ATM and its capabilities and after evaluating several vendors, decided that BankWorld was the solution which would equip them with the tools to best service their customers. Diamond Bank saw that BankWorld could provide a robust and flexible platform for their ATM, internet and mobile channels.

Consistent with their commitment to providing an unparalleled customer experience, Diamond Bank deployed CR2’s BankWorld multichannel platform across their ATM, internet and mobile banking channels. This included innovative banking services unique in Nigeria such as Money Voucher and tailored and responsive services. Diamond Bank also acquired the BankWorld customer intelligence tool to quickly analyse their database and enable the bank to effectively target specific customers with interactive offers and services.

The Results

Customer Base Growth In such a competitive marketplace with ever changing customer demands, Diamond Bank has positioned itself as the most innovative bank in Nigeria. In 2013 alone, the footprint of Diamond Bank grew by 10%, with customer base growth of 33%.

Increased efficiency As BankWorld is a fully integrated platform, the bank’s staff can easily manage this rapid growth from a single point. With tellers having access to BankWorld, they are empowered to perform transactions such as transfers or payments quickly and efficiently on behalf of customers. This allows Diamond Bank to realise an all important reduction in queuing time. BankWorld also facilitates the speedy design and launch of products across all channels simultaneously, giving clients the opportunity to accept offers and services directly through the banks self-service channels.

Fast Deployment of new services and network extension With the help of BankWorld, Diamond Bank’s ATM network has grown rapidly from 15, to a network of over 1,000 ATMs providing many more services in a very short time. Diamond Bank is continuing to roll out advanced new services on the BankWorld platform to ensure it remains at the forefront of banking technology while also allowing them to tap into the vast unbanked population in Nigeria. Diamond Bank are also continuing to expand their service offering by rolling out BankWorld ATM, Internet and Mobile across Ivory Coast, Benin, Togo, Senegal, Burkina Faso and Mali.