Al Rajhi Bank Inaugurates First Innovation Lab at Riyadh branch

08 August 2017

Al Rajhi Bank launched the first innovation lab in the Mohammadia branch in Riyadh. As the first bank to incorporate such a service, Al Rajhi Bank aims to enrich the customer experience, as more labs are to launch at select branches in main regions of the Kingdom. Mr. Steve Bertamini, Chief Executive of the Bank, in the presence of Bank General Managers and officials, inaugurated the Lab.

This innovative initiation comes as Al Rajhi Bank recognizes the rapidly evolving developments in a constantly changing world. Such rapid change must follow the banking sector in terms of customer service development and innovation. The Bank is determined to establish faster banking operations, more accessible facilities and smarter services that are easier to use.

The design of the first I-Lab model was a non-traditional interactive lab with several mechanisms and programs that study customer behaviour as they use the bank services and then the I-Lab determines how these services can be developed to improve quality.

These programs calculate exact details like: time used for each step, and customer reactions while using a service. Such details can determine whether steps require reducing or merging.

All customer feedback and ideas will be evaluated as part of workshops and improvements and will be re-tested to deliver the result to customers.

With the innovation lab, Al Rajhi bank aims to allow customers to participate and provide ideas on the latest digital products and services.

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