Customer experience, profitable growth and strong solvency

Oma Savings Bank Plc is a profitably growing Finnish bank and the largest savings bank in Finland based on total assets. OmaSp focuses on retail banking operating local and close to its customers nationwide in Finland. The bank also operates in mortgage banking.  In the core of our strategy is differentiation. The bank offers its customers the best banking experience through personal customer service and digital service channels. We believe that an excellent customer experience leads to our target profitable growth. Cost efficiency is at the core of driving business. Our target is to maintain strict governance of risk management and credit policies as well as adequate capital buffers at all times.

The bank’s aim is to strengthen its market position in its respective area and among all the above-mentioned customer groups. However, growth is sought in business areas where growth can be achieved within the framework of the company’s business profitability and risk management objectives. Oma Savings Bank has been one of the most profitable and effective banks in Finland already for years, and the aim is to maintain this position in the future as well. The development of business volumes is based on organic growth, but reorganisations are also possible in the future.

The company’s personnel is committed and the bank seeks to support their career development with versatile tasks and continuous development. A substantial part of the personnel also own shares in the company.

Fostering excellent customer experience

OmaSp strives to be a bank of satisfied customers that is local and close to its customers and offers the best service locally. This objective entails the bank's target to have the highest customer satisfaction in the industry among its primary customer categories, i.e. families and small and medium-sized enterprises as well as the target to offer its customers with the best customer experience. OmaSp aims to keep its customer experience at a high level by focusing on development of value adding services according to customer needs, by reacting rapidly to changing customer needs by knowing its customers well, as well as by having high accessibility through advanced digital service channels and an extensive branch network. The Bank is also a reliable banking partner for its customers, managing its customers’ and its own financial affairs diligently, persistently and reliably.

Active Search of Profitable Growth 

OmaSp believes that excellent customer service will speed up bank's profitable growth. Instead of price competition, OmaSp focuses on excellent customer service and high service accessibility. OmaSp strives towards excellent customer service and good service accessibility through being local and close to its customers both in digital and physical service channels. For these purposes OmaSp seeks continuously to know its customers’ needs well and to develop its services and service channels to meet the changing needs. The bank's management sees that this strategy creates growth opportunities particularly in larger cities where, to the understanding of the company’s management, many competitors are focusing more on price competition, at the expense of a good customer experience. In smaller municipalities, OmaSp's competitors have reduced their presence. OmaSp is of the view, however, that many of these location exhibit a strong demand for local services. This creates growth opportunities for OmaSp, as the bank's management believes its strengths to lie in its local expertise and in high service accessibility.

OmaSp's entire organisation is engaged in active sourcing of new customers to drive growth and strives proactively to highlight the benefits of good and skilled customer service. With its professional service, OmaSp seeks to create value for its customers in the long-term, as the bank's management believes this to be more attractive for the customer than any, even momentary, lower prices from a bank whose service quality and accessibility do not compete with OmaSp’s customer-oriented service level. High customer satisfaction improves the company’s chances for upselling, as well as increases customer loyalty, thus reducing customer churn. The high recommendation rate, in turn, benefit new customer acquisition, as satisfied customers recommend OmaSp to others.