The Emirates NBD Group launched Liv in 2017 as the UAE’s first digital banking proposition.
Since then, it has won numerous awards for disrupting traditional industry paradigms to offer customers a lifestyle-first intuitive banking experience.
Key changes have been made recently to Liv to better serve what its calls ‘an underserved but pivotal customer segment’: Generation Now.
“Our analysis demonstrated that this segment has unique needs that no other banking proposition in the market has effectively addressed so far,” Pedro Sousa Cardoso, the Chief Digital Officer of Retail Banking and Wealth Management at Emirates NBD, told Campaign Middle East.
So who are Gen Now?
Emirates NBD says this new market comprises Gen Ys and Gen Zs. “Young professionals in this segment have a unique lifestyle and perspective on life: research indicates that they are more technologically sophisticated, have a higher-than-average tolerance for risk, tend to juggle multiple jobs, and are more sustainably conscious, to name a few attributes.”
The newly-revamped Liv says it addresses this opportunity with a revised value proposition that aligns with Gen Now’s banking and lifestyle needs.
Reflected in its new tagline, ‘Liv Ahead’, its differentiated value proposition offers customers a host of new and rewarding products and services.
For example, Liv says it is the first digital bank to introduce an innovative gamified offering allowing customers enhanced interest rates up to 3 per cent and banking benefits such as free local transfers and global ATM withdrawals by banking more with Liv.
Next generation
Thinking ahead to future customers, it has launched a bespoke smart financial app called Liv Young that enables parents and guardians to open a mobile-based account for their children between the ages of 8 to 17 to develop good money habits.
Designed specifically for modern families and lifestyles with the ability to set chores for children, it gives kids and teens a better understanding of managing finances along with security for parents.
The account also makes kids eligible to own a debit card for ATM withdrawals and digital payments.
