Executives at First National Bank in South Africa are considering whether to start a potentially exciting, but rather unorthodox new form of saving. Instead of paying interest, this product gives depositors the opportunity to win big cash prizes every month. Michael Jordan, CEO of Bank Consumer Solutions Division must decide whether to approve the product, weighing the potential benefits against large investment, uncertain market demand, and the complication that the product could … Read more »

Executives at First National Bank in South Africa are considering whether to start a potentially exciting, but rather unorthodox new form of saving. Instead of paying interest, this product gives depositors the opportunity to win big cash prizes every month. Michael Jordan, CEO of Bank Consumer Solutions Division must decide whether to approve the product, weighing the potential benefits against large investment, uncertain market demand, and the complication that the product may be legal challenges.
«Hide

from
Shawn Cole,
Peter Tufano,
Daniel Schneider,
Daryl Collins
Source: Harvard Business School
20 pages.
Publication Date: Oct 19, 2007. Prod #: 208072-PDF-ENG
First National Bank Golden Opportunity HBR case solution