A walk in Mar Mikhael reveals that it has become the hub of hospitality for millennials in Lebanon: during the day, its appealing restaurants and quick snacks attract those who work in the area, while in the evening it’s a destination for gatherings with friends over drinks or bistro dinners.
As such, Banque Libano-Française (BLF) was savvy enough to identify the street’s attraction to that young demographic. “We chose Mar Mikhael area to launch our new e-branch concept , notably because it is vibrant and attracts the public, and mainly millennials, into its restaurants and pubs”, explains Marwan Ramadan, Assistant General Manager and Head of Branch Network Division at BLF, adding that more digital solutions will be available soon at BLF e-branch .
Millennials, who are often referred to as the “tech generation”, are typically more comfortable behind the screen rather than communicating with tellers or their bank managers for their banking needs. The new e-branch concept offers them, and BLF clients in general visiting the area, an enhanced digital banking experience which includes several key and common banking needs.
For example, not only will customers be able to withdraw cash, they will also be able to deposit cash and checks, settle their credit card payments, pay for a wedding gift and transfer money between accounts through two ATMs making for a speedier and more efficient banking experience. BLF also eliminates the need to visit the physical bank by allowing customers to access their account, apply for loans, settle their tuition fees, track their outward transfers, in addition to the above mentioned ATM features, through the e-branch, BLF e-banking service and the mobile app My BLF, in a simple and secure way. This is yet another tool which will surely appeal to millennials, but also to anyone who is simply too busy to go to a traditional branch.
The e-banking concept is simply the latest tech platform through which BLF demonstrates its innovative mindset and its ability to stay up to date and allow its clients to benefit from interconnected platforms with the peace of mind of knowing their accounts are safe.
Concerning the Bank’s digital strategy and roadmap, Ronald Zirka, Head of Marketing and Retail at BLF explains: “What differentiates Banque Libano-Française and gives a competitive edge to its digitization efforts is its ability to continuously enhance its digital platforms. Lately, the Bank launched a new solution that allows its customers to track their transfers on the e-banking and the mobile app, My BLF, by checking their transfers step-by-step status, including the execution dates and all fees and commissions charged by every correspondent in the chain”.
“Understanding our clients’ expectations is the main driver behind every change. BLF strives to anticipate those expectations to enhance the customer experience on all its physical and digital channels”, he adds.
What started in Mar Mikhael will surely spread to many areas across Lebanon and as such, more BLF clients will benefit from technology to have easy, efficient and safe access to their bank.