2. • The understanding of the business problem
• The understanding of the TG (not so much the numbers)
• The authenticity of the idea (not so much the execution)
• The power of the ideas (not so much the width of work)
• Whether it talks the language of youth and engages them
• Whether it will get youth onboard
• Whether it will lift the image of SBI
KINDLY JUDGE THIS PRESENTATION ON…
3. There was a time when banking was only about core banking solutions.
5. On-the-go transactions (products, food, cabs) - up by 140%
Recurring transactions (bills, rent payment) - most neglected
Planned large transactions (travel spends, bank deposits) - decreased in number but increased in size
Frequency of transactions
Sizeoftransaction
30%
65%
60%
Planned large transactions:
Recurring transactions:
On-the-go transactions:
2012 2016
10%
25%
Source: NSS 68th Round Household Consumption in India 2011-12, BCG CCI consumption survey, Mary Meeker 2016
6. There has been a boom in digital transaction products.
Both NBFC and Banks.
7. And youth have taken to it in a big way.
“I use Patym daily since I do not believe in carrying cash anymore.”
Ishita, 25
“I use Bhim so as I don’t have to go through the usual hassles of transferring money.”
Harsh, 29
“My Axis Bank app has simplified all the banking services that were quite tedious earlier.”
Sameer, 32
Source: Personal Interviews, telephonic conversations with males and females aged 25-35 across India, including metros, mini metros and tier-2,3 towns.
8. The skew of course favours the private banks. They are perceived to have
better customer service.
“I have been a privilege customer at ICICI and I know that their services are really good, so, I
naturally switched to both their imobile app and Pockets.”
Anantraj, 27
“I have a salary account with HDFC and I also use their digital platforms, including Chillr on my
phone. I can trust them blindly, plus Chillr is so cool and gets so many things done.”
Mark, 29
“I bank with Kotak which has assigned a personal manager and also sends me regular updates on
my expenses and money management, all digitally.”
Mansi, 35
Source: Personal Interviews, telephonic conversations with males and females aged 25-35 across India, including metros, mini metros and tier-2,3 towns.
9. In the bargain, the PSU banks like SBI have had it tough. Both on signing
up youth in a big way, and having their business.
“I cannot bank with these government banks that my parents and grandparents frequent. I don’t
think they’ve caught up to the fast times.”
Maithily, 27
“I have bank accounts at SBI and BOI, but they’re inherited accounts. These old government banks
mostly do not have proper infra and most times their services are slow or down.”
Kunal, 32
“Government banks are slow and rarely updated in tech. Private banks have the tech to support all
my banking needs.”
Samit, 25
Source: Personal Interviews, telephonic conversations with males and females aged 25-35 across India, including metros, mini metros and tier-2,3 towns.
10. 1. Getting youth on board 2. Making SBI look new-age
SBI NEEDS SOMETHING THAT
RAISES THE NEW CROP OF YOUNG CONSUMERS FOR THE BANK
12. Seamlessly extending the trust of the mother brand.
Gaining access to a world of whole new values with a whole new face.
Receiving a reverse rub-off to the parent brand (initially)
13. Something that older banks like ICICI and HDFC have tried too with lukewarm success-
Chillr and Pockets.
(Amongst ‘Youth centered’ apps Pockets is in the top ten downloads (.39%) including banks
apps. Avg. time spent per user is also highest- Source Similar Web 2016)
15. For an older bank like SBI, Titan-Fastrack is obviously the better way to go.
It should benefit from the trust that SBI enjoys.
16. Leveraging the trust of SBI. Other than that, the less SBI it is, the better.
XBy SBI
17. On the outset, doesn’t seem to be easy. The landscape is quite cluttered.
Plethora of apps offering a range of features. And packaging them young.
18. 1. It needs to be a better product 2. It needs to be far more appealing
OUR OFFERING NEEDS TO BE
EXCEPTIONAL ON BOTH LEVELS
19. The audience we are talking to looks easygoing but is infact quite evolved
and demanding.
20. Born with a Silicon Spoon, they are constantly swimming in technology. It is their
weapon to live and rise in the world.
They also have a very high to sense of entitlement.
21. When it comes to transactions, they have had it more easy than any other
generation.
22. With the ethos of spending more than they earn, transaction apps for them
mean a lot more than just access and paying money.
Source: TD Ameritrade, BCG perspectives, GoldmanSachs
23. They are ways of seamlessly being connected to an ecosystem of consumables to
make possible...
24. …A LIFE OF ‘CAREFREE CONSUMERISM’
A seamless experience of accessing everything you love at the least possible
effort.
25. Because of its high standards, Carefree Consumerism has infinite room for
improvement.
29. Consumer apps: (cab
booking, food
ordering, home
services )
Money transfer, Scan
& pay ,
Balance check
Access to Multiple
bank accounts
Bill payments &
recurring expenses
Special Consumer
services (Travel,
movie tickets)
Online Saving
account, Credit
card
Digibank (DBS)
Kotak 811
Chillr (HDFC)
AXIS Mobile + LIME wallet
TapZo (Interface aggregator)
Paytm, Freecharge (Dedicated payment gateways)
THE PRODUCTS ARE SKEWED MORE ON ONE SIDE OR THE OTHER
Airtel payments
Pockets (ICICI)
PAYING
SPENDING
30. Consumer apps: (cab
booking, food
ordering, home
services )
Money transfer, Scan
& pay ,
Balance check
Access to Multiple
bank accounts
Bill payments &
recurring expenses
Special Consumer
services (Travel,
movie tickets)
Online Saving
account, Credit
card
SBI ‘X’
Digibank (DBS)
Kotak 811
Chillr (HDFC)
AXIS Mobile + LIME wallet
TapZo (Interface aggregator)
Paytm, Freecharge (Dedicated payment gateways)
Consumer apps: (cab
booking, food
ordering, home
services )
Money transfer, Scan
& pay ,
Balance check
Access to Multiple
bank accounts
Bill payments &
recurring expenses
Special Consumer
services (Travel,
movie tickets)
Online Saving
account, Credit
card
Airtel payments
Pockets (ICICI)
PAYING
SPENDING
31. CONSUMER APP
PRODUCT &
SERVICES
SERVICE
SELECTION
APP SELECTION DEAL SELECTION PAYMENT STAGE
• Select among type of
product/service he/she
wants to purchase
• Eg. Money transfer,
product & services, bill
payment
• Choose service provider
(Dedicated apps, app
aggregators, websites)
• Interact with various user
interfaces
• Evaluate offered deals
• Selection is based on
price, quality of offerings,
& personal preferences
• Use payment gateways
(Paytm, Ola money etc)
• Provide card/bank details
A BASIC TRANSACTION JOURNEY
32. Consumer journey
stage
Consumer pain point App feature
Service selection
Wastage of time for searching multiple
apps/sites
Aggregated in one screen
Deal selection
Inability to select best deals offered by
various apps
Scheme & discounts curated together
Payment stage
Repeatedly provide bank details/OTPs for
multiple accounts
All bank accounts linked to app
Payment stage Selection of account for payment Account prompt based on history
Payment stage Extra spending without expense tracking
Splitting expenses & expense tracking tool
integrated with the app
Payment stage Over spending
Ability to set max caps on attached bank
accounts to manage spending
RECOMMENDATIONS FOR ‘CAREFREE CONSUMERISM’
34. The functionality of AXIS and the Interface of Pockets
“The AXIS BANK app is the best, cleanest and easiest. There is no need to ever go to the branch”-
Sameer, 29
“I like the interface of Pockets. It colourful and energetic. You feel like going back to it.”-
Maithily, 27
35. 3. CAREFREE CONSUMERISM IS LESS ABOUT THE HASSLE AND
MORE ABOUT THE EXPRESSION (OF ATTITUDE)
37. Simply Do So Much, No Stress
EASE OF USE
Easy Payments, No Worries for Change
Easy Transactions & Deals
PROBLEM-SOLUTION
Why Are All Banks Like This?!
Don’t Take Load
NEW WAY OF BANKING
NO ATTITUDE ATTITUDE
Fighting back
Flittering thinking
Bank Jaane Ke Liye Bank Kyun Jaana
Just 90 Seconds
India’s First Downloadable Bank
LOT OF NOISE, BUT LESS ON POINT!
38. The opportunity for SBI:
TO CREATE THE ULTIMATE PLATFORM
FOR
‘CAREFREE CONSUMERISM’ OF YOUTH
+ + =
PRODUCT DESIGN ATTITUDE
41. CONCEPT 1
PRODUCT TRUTH
The easiest possible way of transacting
CULTURAL TENSION
Ethos of working hard Vs Smart ingenious solutions
INSIGHT
The carefree ways of youth are often mistaken to be lazy and
wasteful.
OLD BELIEF
To get things done, we need to go through hassles.
NEW BELIEF
To get things done, one needs only to be smart.
56. CONCEPT 2
PRODUCT TRUTH
Makes things as simple as they can be
CULTURAL TENSION:
Complication of abundance Vs Simplicity of happiness
INSIGHT
To keep it carefree, the young are hiving off what they don’t need
in their life
OLD BELIEF
You need a lot of stuff to be satisfied. Keep hoarding.
NEW BELIEF
You only need the essential things that keep you happy. Live
ephemeral.
“From time to time I clean up my
phone, so that it becomes simple to
use.”
Ishita, 25
Source: Personal Interviews, telephonic conversations with males and females aged 25-35 across India, including metros, mini metros and tier-2,3 towns.
69. Launch Objective:
Make X-by SBI the new cool, talked-about and must have app on the block.
Engagement:
Get youth to understand
and experience the app
WOM:
Get youth to interact and
talk about the app
Visibility:
Get youth to see it as a
large movement around
them
Digital content Digital activation Interactive/plain ambient
Digital advertising Influencer activation TVC, Print
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