Bank of Georgia, the holding company of JSC Bank of Georgia, has rolled out a new strategy for its premium banking service, dubbed Solo, targeting the HNW banking segment.
Under the strategy, the bank will now offer its Solo clients access to exclusive products and concierge-style environment at newly designed Solo lounges.
Go deeper with GlobalData
Solo clients will also be offered new lifestyle opportunities, including exclusive events as well as handpicked lifestyle products.
Bank of Georgia CEO Irakli Gilauri said" "With Solo we are targeting the mass affluent retail segment and aim to build brand loyalty through exclusive experiences offered through the new Solo. We currently have only 8,000 Solo clients and an estimated market share of less than 13% in this segment.
"We have already opened two new Solo lounges and will increase number of lounges in line with the increasing number of clients. Our goal with the new strategy is to significantly increase our market share in this segment over the next three to four years."
Solo clients are provided various luxury products and accessories, at cost in Solo lounges, that are not available in the country.
They are also offered tailored solutions such as new financial products, which pay a higher yield compared to deposits, and other securities developed by Galt & Taggart, which is the investment banking unit of JSC Bank of Georgia.
