RETAIL BANKING
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RETAIL BANKING

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CASE STUDY ON RETAIL BANKING

CASE STUDY ON RETAIL BANKING

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RETAIL BANKING RETAIL BANKING Presentation Transcript

  • RETAIL BANKING IN INDIA
    • PRESENTED BY: (GROUP 4)
    • SAKET RARA
    • SAGAR NIKAM
    • SACHIN MORE
    • NITIN DAFADE
    • GAURAV KUMAR
    • MITHUN SADAVARTE
    • DEEPAK DODDAMANI
  • SUMMARY
    • RETAIL BANKING: Retail banking refers to banking in which banking institutions execute transactions directly with consumers rather than corporations or other banks.
    • Services offered includes : Savings and checking accounts, mortgages, personal loans, debit cards, credit cards and so forth.
    • Indian retail banking is showing phenomenal growth
    • Key drivers: Increased consumerism, Internet, Emergence of new age companies, technology.
  • SUMMARY CONTINUED…..
    • FIVE FOCUS AREAS:
    • Imagination
    • Emotional Connection
    • Functional & technical advantage
    • Personalized contact
    • Testing & Improvement
    • THE FIVE COMMANDMENTS
    • Market offering & positioning
    • Customer relationships
    • Competitors study
    • Customer care & feedback
    • Employees satisfaction
  • THE RETAIL BANKING STRATEGIES ADOPTED BY A FEW NEW AGE BANKING ORGANIZATION IN INDIA. DISCUSS…
  • RETAIL BANKING STRATERGIES
    • Constant innovation in products, services to match the requirements of the customer segment.
    • Quality service and quickness in delivery.
    • Introduction of new delivery channels
    • Tapping of unexploited potential and increasing the volume of business
    • Detail Market research
    • Cross selling of products
    • Business process outsourcing
    • Tie-up arrangements
  • RETAIL BANKING STRATEGIES CONTINUED….
    • Fixed and unfixed Deposits, (cluster deposits which can be broken into smaller units to help meet depositors’ overdraft without breaking up entirely)
    • Centralized database for ‘any branch banking’
    • (whereby the customer can access his account in any of the branches)
    • Room services (whereby the customers are visited at their residences offices to enable them to open their accounts)
    • Automatic teller machines
    • Tele banking network
    • Extended banking time
    • Courier pickup for cheques and documents
  • WHAT ARE THE STEPS TAKEN TOWARDS TRANSFORMING RETAIL BANKING BY BANKS LIKE SBI?
  • STEPS
    • Presence And Availability
    • Core Banking
    • Extended Hours, Quality & Quickness in Delivery
    • Better Infrastructure
    • Make Routine Tasks Easier And Less Time Consuming
    • - Net Banking
    • - ATM Centers
    • - Handy Fund Transactions
    • Merger/Acquisition Process
    • - Imperial Bank Of India
    • - State Bank Of Saurashtra, Cochin, Travancore, Indore
    • Services, Product Range, Group Companies
    • SBI----
    • - Capital Market Ltd.
    • - Mutual Fund
    • - Cards And Payment Services
    • - Factor And Communication Services
  • 3. SHOULD RETAIL BANKING BE TREATED LIKE RETAIL STORES IN TERMS OF ITS OPERATIONS TO MEET WITH SUCCESS IN INDIA AS SUGGESTED BY BCG?
  • PRESENT SCENARIO
    • Indian retail banking has been showing phenomenal growth
    • In 2004-05, 42% of credit growth came from retail
    • Over the last 5 years CAGR has been over 35%
    • Retail credit level crossed Rs.189K Crore in 2004-05
    • Market has transformed into a ‘buyer’s market’ from a ‘seller’s market’
    • Comprises of multiple products, channels of distribution and multiple customer groups
  • ECONOMY VS. RETAIL BANKING
    • Retail assets are just 22% of the total banking assets of India
    • Contribution of retail loans to GDP:
    • India 6% China 15 %,
    • Thailand 24% Taiwan 52%
    • Indian population below 35 yrs of Age – 70 %
    • Reach of Formal Banking Channels – 20-25% of Indian population
    • Source: Cygnus Industry Insight
  • MARKET SHARE: RETAIL LOAN - 2005
  • BANKING LIKE RETAIL STORE
    • “ Any where”, “Any time” Banking
    • Improved processes/Bundled product offerings
    • Faster service/Reduced TATs
    • Customer specific products/offerings on a regular basis
    • Focus on understanding customer needs/ preferences
    • Segmentation/Differentiation of customers
    • Building relationships
    • SIMILARITIES:
    • Customer oriented approach
    • Stiff competition to be tackled
    • Dynamic business environment
    • Faster changes in technology & methods
    • Greater potential in Indian market
    • DIFFERENCES:
    • Mind sets different
    • Priorities are different
    • Differentiation potential varies
    • Customer buying behavior is different
    RETAIL BANKING V/S RETAIL STORES
  • RETAIL BANKING IN RETAIL STORES WAY… AS IS / BEFORE TO BE /NOW PRIORITY Credit & Risk Customers & retailing APPROACH Secure & conventional location for financial transactions (Banks dictate terms) Customer centric retail banking (Customer is King) CUSTOMER BASE Corporation & other banks Retail consumers, corporate clients, other banks FORMATS Single Entity Multi-location, multi branch MORE EMPHASIS ON Improving transactional efficiency Providing service and value to consumers CUSTOMIZATION Rarely there Highly customized
  • RETAIL BANKING IN RETAIL STORES WAY TO IMPROVE FIVE FOCUS AREAS RETAIL STORES APPLICABILITY TO RETAIL BANKS IMAGINATION Sell dreams, Offer a vision where customers can go. Sell dreams of comfortable & secure retirement plans etc. EMOTIONAL CONNECTIONS Provide information, Serve & create bond e.g. Update new plans tapping new needs FUNCTIONAL & TECHNICAL ADVANTAGES Retail stores provide value- added products & services Create products & services with act as differentiator PERSONALIZED CONTACT Data warehousing, data mining e.g. advices on money management depending on individual needs TESTING & IMPROVEMENT Keep experimenting New methods, plans, Implement & improve
  • RETAIL BANKING IN RETAIL STORES WAY… FIVE COMMANDMENTS RETAIL STORES APPLICABILITY TO RETAIL BANK SEGMENTATION, TARGETING, POSITIONING accordingly make product offerings simple & relevant e. g. positioning HBOS :Consumer champion in Britain CUSTOMER RELATIONSHIP Track & correct mis-perceptions of customers Feedback,complaints,helpdesk. COMPETITION Survey competitors: offerings, strategies & promotions & beat them Competitor oriented strategy, Be updated & improve PROACTIVE Listen to customers continually & carefully Unstated needs identification INCENTIVES Performance based To Sales & frontline, back-office staff
  • CONCLUSION
    • Retail banking has a great scope in India due to increase in consumerism, purchasing power of customers.
    • E-banking, phone banking, Mobile banking, ATM, have become necessity, and are no more factor of differentiation in urban and semi urban cities.
    • Bankers can adopt strategies used by retail stores to very large extent to woo the customers and survive in competition.
  • THANK YOU…!