Are internal start-ups cannibals or category killers?

By Brad Howarth

This meant UBank could happily engage with consumers through social media at its launch, at a time when other brands had yet to test that channel. “We helped to facilitate that back into the larger organisation, to the point where we see NAB as one of the leaders now in social media in Australia,” Twigg says. “It’s a great example of how a slightly higher risk profile in strategically selected spaces can provide real value to the group.

For instance, UBank pioneered shifting the traditional 100 point identity check online, allowing prospective customers to start transacting in as little as 10 minutes. “Now that 100 point check process is gradually being adopted across the bank, and you can see massive customer experience uplifts,” Twigg says.

Read more here: Business Spectator

    

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