Wednesday, October 28, 2020

Barclays Bank moving with digital times

To live in an era where one chooses to ignore digital media is dead and buried with the ghouls and goblins. If you are not attuned to the virtual world, prosperity remains a phantom expectation that cannot be attained.

After operating for 66 years in Botswana, Barclays is now coming to terms with reality and engaging the local bloggers, social media influencers and journalists in a bid to keep up with the times and ultimately grasp the emerging youthful market with the growing disposable income.    

Dudu Molloy, Head of Marketing and Corporate Relations of Barclays Bank, has alluded to the fact that the world around us is dynamic and continues to change by the second and therefore presents itself as a challenge in the banking industry. 

“We are faced with issues of fines, sanctions, corruption, spoofing, catfishing and corporate espionage which are everyday cyber crimes that banks all over the world have to deal with,” she said. 

Barclays Bank has been able to identify the gap that needs to be filled in order to diversify their clients; products and services. Barclays confidently boasts their significant contribution towards the development of the country and have managed to influence the local banking industry.

Amidst the dialogue between the Barclays team and their digital friendly guests it was unanimously decided that the industry had the budget but, however, there were existing disparities between the bloggers, influencers and journalists which created stumbling blocks in attaining each other’s desired results.

Social Media Manager Kenanao Phele further explained that there was a need for extensive training research and reading for them to equip themselves with the relevant information to the consumers.

Also brought up for discussion was the motives, objectives and the plans in place to address the many social ills that were faced by Batswana in general and what the attendants’ role was in addressing the situation.

Various ideas were thrown into the pool and what stood out was that being the versatile society that Batswana are it was imperative that a generic approach to establish the needs and requirements for different communities and deliver them as and when the need arises be taken.

A generation gap was also identified and appreciated. Adaptation is key for both the older and younger generation for them to merge and appeal to different markets for purposes of progression and growth.

Barclays Bank is currently actively seeking fresh ideas to splash out to the youth as a way of interaction with them and make their products and services more appealing but not leaving behind their older conservative clientele.

The traditional advertising methods to get public attention are no longer efficient and hardly garner tangible results and therefore the bank has realised that it is imperative to package their products in a more attractive manner to effectively suit to their relevant to their clients.

Moving forward, in order to advance their aspirations and efforts, Barclays has taken it upon themselves to engage the influencers, bloggers and journalists with their international stakeholders to work with the global community in order to grow the traditional and emerging media.

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