Reimagining banking for the people of Myanmar, a cash-based society disrupted by Covid

Yoma Bank - Myanmar — Complex systems

Pre-military coup, Myanmar, a predominantly Buddhist society, was largely dependent on cash for daily transactions. With the onset of Covid, physical money was seen as 'dirty' and a potential virus carrier, leading Yoma Bank to urgently reconsider how their extensive branch network could be transformed to promote digital adoption, while ensuring their new physical-digital business model maintained a key role in their customers' lives.

Balancing the needs of both customer and bank

One of the world's most innovative architecture companies was appointed to lead the urgent design and implementation of a reimagined branch network for Yoma bank in 2021. Ghost was commissioned as their human-centred design partner, tasked with ensuring the redesign would meet the rapidly changing needs and expectations of the people of Myanmar, a largely Buddhist society.

Our challenge was to create a guiding set of audience insights, design principles, and practical tools that balanced both bank and customer needs in the physical and digital banking environment.

Our recommendations were translated into a physical branch 'kit of parts' that would give the physical redesign the greatest chance of success and minimise regretful investment. Due to pandemic travel restrictions, this was done remotely; working through local researchers and helping to grow Yoma's nascent customer experience capability — something Ghost was well positioned to lead as a natively remote team.

As part of this work we defined our customers as representative groups — or personas — this gave us the best chance of actively meeting their needs and delivering experiences that each group of people value.

Aligning to allow for rise of digital uptake

We played a key role in helping Yoma's leadership group align on their shared vision. Together, we established priorities, helping Yoma move away from their current teller-heavy model of physical branches, to a more open modular approach, better suited to the preferences of their customers.

Our approach included a range of core branch layouts with adaptable elements that could be easily replaced depending on the pace of digital uptake in a location and its subsequent growth. We developed a framework for branch refits, offering flexible options for branches depending on location, audience (urban or rural) and security requirements (for branches located in Myanmar's politically unstable regions).

Outputs included a comprehensive outline of our strategic thinking, providing Yoma Bank with the tools to ensure Myanmar societies' digital adoption grows.

Value of remote in a time of turmoil

Despite the challenges of working with a geographically distant client, we successfully managed our remote engagement with researchers and employees both inside and outside of Myanmar's conflict zones, while ensuring a consistent regard for the Buddhist principles embraced by the majority of Yoma Bank's audience concerning personal finance.

Yoma were in the process of rolling out the first 'hero' branch in it's largest city Yangon when a military coup destabilised the country. As a result, New Zealand severed all ties with the illegal regime in Myanmar and our work with Yoma Bank came to an end.

Key value delivered:

Our team successfully navigated various challenges, catering to a culturally distinct audience, in a cash-based society, amidst political unrest. Despite these hurdles, our collaboration with Yoma Bank resulted in the delivery of a robust strategic framework and on the path to establishment of a revised physical and digital banking service.