Innovation case study submitted by Dubai First during 3rd Continual Improvement & Innovation Symposium organized by Dubai Quality Group's Continual Improvement Subgroup to celebrate World Quality Day 2011.

1. Innovation Storyboard
Dubai First
Emirati Card
February 2010 – May 2010
Emirati Card Team

2. 1. About the Organization
• Introduction
– Dubai First was established in 2007 and is one of the leading consumer finance companies in the UAE specializing in
liability and credit card products. The company strategy is based on building sustainable long term value through
innovation in harnessing a genuine customer service experience. Since inception, and with a strong, multi-cultural
workforce of professionals, Dubai First sought out to develop a niche reputation in the consumer finance and credit cards
sector.
• Mission/Vision statements
– Vision: Becoming a leading consumer finance company in the region
– Mission: Develop sustainable long term value which is better than our competitors for our shareholders and for our
customers.
– Values: Customers first, Passion to success, Courage to be different, Personal Integrity & Leading from the front.
• Products/Services offered
– Product
• Credit cards (Royale, Emirati, Titanium Life, Platinum, Master Gold, Master Classic, Visa Gold, Visa Silver, Corporate,
Business)
• Loans
– Service
• Branches, Online banking, Contact center, Contact us, Dedicated lines, Relationship & Lifestyle managers
• Product services: Welcome gifts such as air tickets, Oud & weekend getaway, Roadside assistance, concierge services
and lifestyle services.
• Locations
– Dubai (Head office)
– Abu Dhabi (Branch)
– Sharjah (Back office)

3. 2. The Idea
• Identifying the opportunity for innovation & business problem
– No sales
– Recession
– Downsizing
– Market instability
• Preliminary research
– In house research
– High income
– Credit check across all segment
– Market research
• Project prioritization
– Resume sales with focus on an innovative, secure and unique product
• Tools/Techniques to generate the idea
– Question to launch a unique & attractive product to customers
– Based on research considering Age, Income, Spend factors, Risk, Payment behavior & Credit trend
– Product related to the culture of the country and the people
– Gift linked to items used by Emiratis
– Design of the card with the flag
• Advantages of various alternative
– Open sourcing to all segments
• Disadvantages of various alternative
– High Risk
– Recession

4. 3. People Involvement
• Team formation
– The management formed the team for the project from the following cross functions in the organization
• Head – Distribution & Quality Service
• Manager – Communications
• Head – Sales & Liabilities
• Head – Projects & Technology
• Head – Internal Control, Legal & Compliance
• Stakeholder’s buy-in
– Presentation drafted to the Board
• expected financials
• design
• benefits of the product
• setup of systems
• tentative launch in May 2010
• Resources determined
– Radio announcement
– Newspaper publication

5. 4. Process
• Process of developing the concept into a detailed plan
Meeting Research Product Required
Introducing a unique & low Credit behavior and Emirati Meeting &
Thought
risk product market study segment launch
Information Decision Approvals
gathering
– Business Requirement Document drafted
– Technical requirements and system setup approval
– Meeting with IT and solutions provider
– Integration of the new cash back calculation and tracking of welcome gift in the system features
• Evaluation of the solution’s feasibility
– Risk assessment carried out by credit risk department
– Credit score cards
– Followed other standard procedures for product launch
– Agreement obtained by stakeholders based on the credit check
• Pilot testing of the idea
– Launch planned in two phases
• Phase 1: teaser campaign & testing of systems
• Phase 2: official launch
• Results for the pilot trials
– Interest and inquiries from the market from both UAE and other nationalities
– List of customer information obtained for the official launch

6. 4. Process (contd.)
• Full scale implementation plan
– Media campaigns
– Call backs & visits to customers from whom the interests were received
• Informing various stakeholders and obtaining support
– Reports prepared based on the tracking done by the service units
– Meetings held with the Board and the stakeholders
• Implementation monitored and controlled
– Leads tracked through service units – branch, contact center and customer engagement unit

7. 5. Results
• Planned vs. Actual
– Break-even achieved within few months of launch
– Over achieved the acquisition numbers by 30%
– The book size grew by more than 4 times the plan
– Portfolio currently growing at a CAGR of over 50%
– High success rate in product cross sell to Emirati customers
• Actual benefits realized from the implementation
– Emotional link with the product
– Continue to receive leads
– Most successful in comparison to other products

8. 6. Learning
• What Went Well
– Selection of
• Product
• Name
• Design
• Gift
– Supported the product strongly
• What Went Wrong
– Product kept confidential and required to go live as soon as possible to beat competition
– List of discounted outlet were not extensive which is tailored to the lifestyle of the Emirati
• Single Point Lesson Learnt
– Think wise and execute quickly
• Approach in doing a similar project the next time
– Research in advance prior to executing the plan

9. 7. Way Forward
• Recognizing the team members
– Team recognized by the CEO
• Future development of the idea or using the same idea in different applications
– Improving product launched through
– Survey to understand customer needs and requirements
– Incorporate a number of outlets to fulfill requirements
– Approaching organizations for bigger tie-ups
– Working in certain activities linked with the Emirati traditions/culture

10. Thank You