Scotia Bank Indirect Lending
Being the dominant player in a market can bring its own vulnerability. Leaders at Scotiabank, which dominates the Canadian Indirect Lending market, did not want to rest on their laurels and allow competitors to take away their customers. To ensure and strengthen their market position, they needed to align strategy to customers’ changing needs.
AlignOrg Solutions helped Scotiabank refocus its organization to align its strategy and trade-offs to customer needs. First, we worked with their leadership team to define their marketplace position, examining questions like: “Ideally, customers choose us over competitors because…?” and “What activities drive our ability to differentiate ourselves from competitors?” These discussions enabled leaders to clearly define their strategic priorities and trade-offs.
Then we gathered customer research to provide insight about customers’ experiences and buying process. We also uncovered employee perceptions about how well Scotiabank and leadership align their action to the stated strategy.
Based on this analysis, we helped them assess how well their organization practices aligned with or didn’t align with leaders’, customers’, and employees’ perceptions. Viewing these three perspectives provided frame-breaking strategic insights for Scotia’s management and employees.
Our results led Scotiabank to resource priorities differently to support their strategy. Employees and management became more unified, as strategic trade-offs were better understood throughout the organization. Employee engagement increased measurably. Most importantly, revenue in the Western Canada region grew by 30% as a direct result of the work.