Íslandsbanki places great importance on mapping out a clear strategic direction and developing its business model. Annual Strategy Summits involving Board members, employees and customers have played a key role in defining particular aspects of the Bank’s strategy, including role, values, and vision. The objective of the Bank´s strategy is to create and deliver long-term sustainable value for all our stakeholders.
The building blocks of Íslandsbanki’s strategy are illustrated in graphic form using the strategy pyramid. First introduced in 2009, the pyramid consists of five building blocks that support one another and comprise the overall strategy. The top three blocks – Role, Values, and Vision – rarely change, whereas the bottom two Strategic Themes and Key Projects are reviewed more frequently.
Íslandsbanki’s fundamental role defines its main objective. That role can be summed up by the statement Íslandsbanki provides universal financial services.
Íslandsbanki’s values are the heart of the Bank’s culture and shape employees’ attitudes and behaviour. At Íslandsbanki, we are professional and disciplined in our work habits. We are positive and carry out our work with a smile. We are progressive and look to the future.
The Bank’s vision is to be #1 for service, it indicates where the Bank is going and provides a guidepost for the strategy formation. The key elements of the Bank’s vision are:
- We listen and communicate with our customers
- We know our customers’ needs and show initiative
- We educate our customers so that they can make informed decisions
- We are experts in our products and services
- We enable our customers to do their banking whenever and wherever they choose
Íslandsbanki has defined strategic themes for the next 3-5 years. These themes provide the structure for the Bank's medium-term strategy. The strategic themes are: Multiply, Simplify and Unify.
Each year, a number of key projects are defined. Their role is to support the Bank's strategic themes and the overall implementation of the strategy.