Business case ANORBANK
How ANORBANK used Porter's Basic Competitive Strategies and Customer Segmentation strategy to succeed in the market
Business case ANORBANK
How ANORBANK used Porter's Basic Competitive Strategies and Customer Segmentation strategy to succeed in the market

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On September 1, 2020, the first domestic digital bank, Anorbank, received a license in Uzbekistan. As a competitive advantage, the bank chooses Michael Porter's strategy - Focus

  1. By the time it entered the market, Anorbank did not have a clear product strategy. Entering the market with the installment Card was not successful.
  2. The Mobile Application of the Bank did not meet the requirements of consumers
  3. SME segment didn’t respond well to bank’s offerings due to low brand awareness and weak product portfolio


  1. Conduct consumer research, identify a portrait and form segmentation
  2. Form a product portfolio according to the Kanno model
  3. Completely redesign the application by adding key products for the consumer
  4. Run a 360 advertising campaign to increase brand awareness and ensure app downloads
Company Profile
ANORBANK is a commercial digital bank.

The bank provides banking services to individuals and businesses without the need to visit the bank. We do not have the usual branches in the city, we are available in millions of devices across the country.

The bank was founded on September 1, 2020. The founders of the bank are former managers of Kapitalbank - leading private bank in Uzbekistan. The headquarters is located in Mirzoulugbek district of Tashkent. Also, the front office is located in the head office, for rare cases when the client wanted to receive services offline. Unlike traditional banks, digital products in Anorbank are developed in-house, by a large army of IT developers and product managers. The company works in an agile format, where work is carried out by teams that form sprints and conduct scrum meetings. In addition to the head office, the bank has a contact center building, which employs more than 100 people who speak Russian, Uzbek, and English. Bank representative offices have been opened in each region.

While the remaining 33 banks were traditional and served customers in their offices, simultaneously developing remote banking services, the founders of Anorbank realized that there was a certain segment of consumers, who actively used Internet and mobile applications, and also did not want to waste time in queues to receive banking services. Anorbank has focused its efforts on meeting the needs of this segment of consumers better than competitors do through digital banking.

But not everything went so smoothly. The first 6 months, things were not going very well. There were no more than 30 thousand users of digital bank, and the main product with which the bank entered into communication - installment cards did not take off. Then the bank attracted a group of Reformat consultants. As a result of the research and analysis carried out, it was revealed that the mobile application did not meet the requirements and expectations of consumers, and the installment card was not the main product that they wanted from the bank in the first place.

To correct the situation, it was decided to do the following:
• Conduct a study of the target market, form a segmentation based on the Abel model and identify a consumer profile
• Form a product portfolio using the Kanno model (as a result of which it turned out that, first of all, consumers need transfers from card to card, and a mobile application can be transferred from a problem child to a star)
• Completely redesign the application, fix bugs and bring core products to the main screen.
• Run a 360 advertising campaign to increase brand awareness and ensure app downloads

As a result, the decision was made to strengthen the diversification and focus strategy, and to add a segmentation strategy due to the fact that the target market was quite large and different groups expected different products. Thus, the bank began to offer a relevant product for each segment, as well as use this segmentation in the bank's CRM system. In November 2021, a new Anor 2.0 mobile application was developed by the bank developers, and an advertising campaign was launched with the new positioning of the rebel bank - "Live Free" to build brand awareness.
Content and copyright in digital communication
As a result, already 3 months after the restart, the bank reached 1 million downloads of the mobile application . The brand health indicator Top of the Mind increased by 3pp. The number of monthly active users increased by 35%. The bank began to attract 9 billion soums of deposits per day. The bank's assets exceeded 1.6 trillion soums and took a strong position among private banks.

Results in numbers
  • Strengthening of brand position, increase in Top of mind indicator +3pp% (according to this indicator, Anorbank was  ahead of the competitor with a lower SOV)
  • 1M+ banking app downloads (initially 30k)
  • MAU +22pp% (before the start of the campaign, the indicator did not exceed 5%)
  • Increase in deposits by more than 55 times
  • Increase in sales volumes +561%

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