Defining the retail strategy for Ecuador’s top bank

Pichincha

As Ecuador’s largest private bank, Banco Pichincha serves around 1.8m customers, and manages over 200 branches. Mormedi created a new retail interior strategy to consolidate Banco Pichincha’s positioning as market leader. The result blends space, branding, and service design into a differentiated and uniquely customer-centric experience.

Project:

Defining the retail strategy for Ecuador’s top bank. 2019.

Client:

Banco Pichincha

What we did:

Analysis, Design strategy, Qualitative segmentation of the bank's customers, Design of services by segment and distribution model, Space design.

Industry:

Retail Banking

Challenge

To maintain its position as the most popular bank in Ecuador, Banco Pichincha asked Mormedi to create a unique, on-brand retail banking concept and CX interior design strategy that could be implemented across a number of branch typologies.

Approach

Mormedi’s three phase approach (Strategy definition, Conceptualizing, Branch adaptation) allowed us to ensure control over the design intent was maintained from concept to launch. Our Strategy team conducted primary customer research, including focus groups and competitor analyses, creating personas with which to interrogate design concepts and to help journey mapping. An integrated digital roadmap was also outlined. Based on customer insights from Phase 1, a flagship branch design was developed in Phase 1, alongside new service models and KPI definitions. The final deliverables included spatial layouts, customer flow maps, materials, and furniture specification.

Result

A wholly new CX direction that captured Banco Pichincha’s value and personality, adaptable to 4 different branch typologies and multiple footprints. The successful rollout of the design at BP’s flagship store.

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We set out to create a bright and positive interior that was both welcoming and professional. Brand capital was reinforced with restrained use of colour and spatial layouts defined by values like inclusivity and transparency. The result is a space that feels very much Banco Pichincha without being a cliched corporate copy-paste interior.

The design story embodied the values of honesty and respect by taking in elements Ecuadorian culture as well as the iconic Pichincha massif. Using mottled concrete to elevate greys beyond the functional, flashes of colour, and locally sourced materials and technology.

Bespoke furniture for the flagship was designed to be adaptable to all other locations too. Modular seating can be changed to adapt to different customer flows. Plants and auxiliary furniture are used to create privacy spaces for calls and work.

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A blueprint and guidelines for all branch designs was created, to allow for the consistent delivery of the brand experience regardless of the space available.