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Case Study

Driving a digital ecosystem at bank of New Zealand (BNZ)

By Goutam Challagalla and Dominique Turpin

6 pages

March 2020

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Reference: IMD-7-2169

The Bank of New Zealand (BNZ)’s market share among Small and Medium Enterprises is declining. The new general manager discovers a pain point among SMEs – they are spending a couple of hours a day compiling information from different apps in order to manage their business. BNZ creates are new information portal with ecosystem partners called MyBusiness Live. This portal makes information available to SMEs in one simple dashboard. BNZ has to decide how to charge for the system and whether to make it accessible only to current customers (i.e., closed system) or also to non-customers (i.e., open system). It also has to deal with internal challenges (e.g., salesforce) regarding the new system.

Learning Objective

Participants will learn when an organization should work with ecosystem partners to solve problems outside their traditional product boundaries.
Participants will understand when to charge for services.
Participants will learn whether to make an information system open or closed.

Keywords

Marketing, Marketing Strategy, Digital, Ecosystem, Customer Journey, Customer Insight, Customer Engagement, Bank

Settings

New Zealand (Polynesia)
Bank of New Zealand, Finance and Insurance, Banking
2018-2020

Type

Field Research

Available Languages

English

Related material

Teaching note, Video

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