Dr. Seetharaman, Group CEO, Doha Bank, the leading private commercial bank in GCC and Qatar, recently took part in a knowledge-sharing session addressing the power of business partnerships and collaborations. More than 300 guests including merchants, partners and prominent business leaders in Qatar attended the event.
“Today’s average customer is keen to derive added value from his/her relationship with a brand. One of the key trends emerging from the rapid digitalization of the world is a shift in the stakeholder awareness,” says Dr. Seetharaman.
Dr. R. Seetharaman said, “In an increasingly converged world, businesses of all kinds are subject to environmental and social shifts that impact productivity. It is important to work alongside existing and potential business partners to identify areas of collaboration that will help deliver more value to our customers.”
Dr. Seetharaman said, “Doha Bank is proud to have established long-term associations with our merchant partners who support our commitment to our shared customers and help deliver a greater level of customer service and value to these customers.”
Mr. Suresh Bajpai, Head of Retail Banking at Doha Bank, said the Bank is equally committed to supporting the needs of customers and its merchant partners, “Today’s customer wants to make the most of the converged world and be able to utilise multiple consumer channels to complete their banking tasks, while also demanding the added value that makes the relationship fruitful. Customers live in a highly demanding environment and we know they are seeking cost and time savings, more generous rewards, and solutions that are easy to access. On the other side, retailers across business platforms are dealing with increasing overheads and shrinking profit margins, the need to keep abreast of consumer spending habits, and stiff competition. So in short, consumers are looking to spend wisely and retailers are looking to make more money. As a financial services partner, Doha Bank is capable of bridging this gap by delivering credit management solutions to retailers and customers, and facilitating payments across the supply chain, or implementing shared systems and platforms for seamless processing and delivering expertise in customer engagement programmes.”
Mr. Bajpai added, “A simple example is the card loyalty program which brings a range of service brands together under an umbrella and increases revenue opportunities, and helps retailers cross sell and upsell, and allows them to acquire new customer segments as an offshoot of the loyalty programme. In return, the customers widen economies of scale in their spending, plus the ability to redeem points at a wider range of purchase points.”
“The most successful corporate-level partnerships are the ones that filter benefits down to help customers gain the most value out of their relationships with the brands. And this is often a tangible monetary benefit or value in kind,” said Mr. Bajpai.
During the event Doha Bank acknowledged the longstanding relationships and collaborations with their partner merchants by awarding them accolades of recognition. Merchants in travel, hospitality, luxury retail, electronics and auto, presided by their senior officials received the awards on behalf of their firms.
Dr. Seetharaman concluded the evening by handing out commemorative trophies to a number of Doha Bank’s longstanding merchant partners who have delivered excellent performance and value to Doha Bank’s customers. The partners recognized during the ceremony were Porsche, Nasser Bin Khaled Group (NBK), Fifty One East, Jumbo Electronics, Techno Blue, Apparel Group, Pan Emirates Home Furnishings, The Qatar Chamber, The Millennium Hotel Doha, The Renaissance Doha City Center Hotel, Lulu Hypermarkets, Quality Group of Companies, Al Sulaiman Jewellers, Malabar Gold and Diamonds, Blue Salon, Pari Gallery, Salam International, Louis Vuitton, Dar Optics Group, Ali Bin Ali Group, Orient Pearl Restaurant, Mamig, Roger’s Diner, Dunia, Lenôtre, Patchi, Starlink, Darwish Travel Company, Regency Travels & Tours.