Member presentation and their challenges
One of our dedicated members from the European Union, has been part of the Qorus network for four years. Throughout this period, we've fostered a close working relationship, ensuring they stay informed about the latest features, services, and developments within Qorus. This includes in-house briefings, physical conferences, online community events, insightful reports, and learning expeditions. Our goal is to maximize the benefits of their Qorus membership by helping them engage with members in similar situations.
In our regular discussions, we highlight the resources available through Qorus, such as member-to-member connections, exclusive content from the Qorus Innovation Portal, access to senior advisors, and participation in community roundtable discussions. Recently, this European bank approached us with a significant challenge: they are preparing a project plan to transition to the Euro by 2025. Given the complexity of this operational shift, they sought guidance from a bank that has successfully navigated a similar process.
Solutions implemented
To address this challenge, Qorus conducted a thorough review of our member base, focusing on countries that have recently adopted the Euro. We facilitated a member-to-member call between our European member and a bank from Latvia, which had previously gone through the Euro adoption process. The Latvian bank shared their experiences with honesty, transparency, and a strong orientation towards value.
During the call, which lasted approximately 1.5 hours, around 10-15 participants from both banks engaged in detailed discussions. The Latvian bank outlined their step-by-step process, the challenges they faced, and the solutions they implemented. This interactive session allowed the European bank to ask specific questions and delve deeper into the practical aspects of the transition.
Results achieved
The true value of this member-to-member sharing session was the opportunity to learn from a team that had already completed the Euro adoption project. While official regulations and guidelines are essential, firsthand experiences and specific design considerations provided invaluable insights. The transparency and sincerity of the Latvian bank added significant value, helping our European member understand the potential challenges and possibilities involved in the process. This type of practical knowledge is often missing from conferences or reports.
Collaboration next steps
Following the successful online session, both banks expressed their willingness to stay connected and support each other with future challenges. This ongoing collaboration underscores the strength of the Qorus network and the benefits of peer-to-peer learning within our community.
