Team: Faded Flame, IIM Kozhikode, HUL L.I.M.E Season 4


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Devised a Strategy for Kotak Mahindra Bank's Marketing Mix

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Team: Faded Flame, IIM Kozhikode, HUL L.I.M.E Season 4

  1. 1. Arnab Guha Mallik TEAM: FADED FLAME IIM KOZHIKODE Anshul Kumar Abhisek Paul Ph: 8086087963 Ph: 8943994677 Ph:8943707444 Sector – BFSI Company – Kotak Mahindra Bank Limited
  2. 2. Modern day banking customers are taking greater control of their banking relationships. They are ready to switch banks and demand improvements. Banks in turn need to re-evaluate their strategies and the way they interact with their customers. They need to give their customers greater flexibility, choice and control and focus on consumer needs and engagement Primary Research Overview Sample Overview  Kotak Mahindra Bank wishes to establish itself as the pre-eminent bank of choice for the mass affluent of India.  Kotak Mahindra’s offering of 6% on savings account has been a marketing success met by increased savings account deposits.  However, it was not the only bank to do so. Competitors like Yes Bank and IndusInd Bank have also increased the offering on savings account post the RBI deregulation.  In spite of other banks still offering 4% on the savings account, Kotak Mahindra has not been able to match them yet in terms of market share and popularity.  In such a competitive scenario, depending on just the PRICING strategy is not sufficient.  what is needed is the improvement and opportunities in the other levers of the marketing mix of the financial products and services that it offers, so that it is able to differentiate itself from the competitors in the coming future. OBJECTIVE Number of respondents – 79 24% of the respondents were between the age 21-25 years, 35% in between 26-30 years, 21% between 31-35 years and 20% greater than 35 Consumer Survey Insights 1. Bank loyalty is high in consumers , however most are unwilling to shift from/change their current bank 2. Trust is the most important factor while opening a new bank account. Previous brand image and an expert opinion plays a pivotal role here 3. Personal Networks and trusted financial communities are the most trusted source of info to be updated about bank offerings 4. Social media is the most used platform for knowing a bank’s products and services
  3. 3. Consumer Survey Insights 1. Communication clarity is the most important factor to improve satisfaction among the customers 2. Most consumers seek expert advice on complex products as a part of standard service offering 3. Major consumers value cash back on credit/debit cards as a main source of rewarding their loyalty 4. Niche customers want their loyalty to be rewarded by premium offerings (something different from standard) 1. Most consumers (approx. 76%) prefer branchless banking (entirely online) 2. Accessibility (presence of ATMs included) and personal relationship are the most important factors in keeping loyalty with a bank 3. Internet banking and ATMs are the most influential banking experiences 4. Ease of Use/Navigation in internet banking is the most valued by customers IMPLICATIONS AND INTERPRETATION • The growing importance of word of mouth, reference group and the waning power of direct selling have implications for banks’ marketing strategies. • The strategy should be Pull i.e. turning their satisfied customers as advocates. They can also influence online affinity groups as marketers by letting them select and shape the communications they receive. Shift marketing from “push” to “pull” • Banks need to capitalize on customers’ growing enrolment in loyalty programs. • Most customers enjoy financial rewards. Although costly, such rewards offer huge potential benefits in loyalty and advocacy. • Banks should tailor programs for affinity groups and let customers choose rewards based on their value to the bank. Develop flexible loyalty programs Some more figures 76% of the respondents were male. 79% of the respondents earned between 5 to 15 lacs of salary annually 41% of the respondents have changed their primary account earlier Customer should be allowed to shape their own experience
  4. 4. SocialMedia Focus on customer engagement through Social Media Use social media to make banking easier Build a strong relationship through improved Customer care LoyaltyPrograms Reward customers, keep them engaged Focus on loyalty programs not only for present customers but also new customers Improvetechnology Focus on mobile banking Use SMS services to simplify Bring out new technologies Online account opening Move from multi-channel to omni-channel distribution •Customers care more about convenience than about channels. •Banks need to look beyond multi-channel toward a fully integrated banking experience that combines the advantages of physical branches and in-person interactions with the information-rich digital channels. •Omni-channel distribution leverages customer data gathered from branches, website visits, social media and elsewhere. Focus on Customer Care •Banks must provide relevant information and advice. They also need to address grievances of the consumers in a short time frame. •Hence banks need to be responsive and receptive •Banks should encourage customers to use digital channels whenever possible. •Banks should determine which services customers want to handle through branches and encourage — not force — other transactions to move to digital channels Make low-cost digital channels customers’ preferred choice •The use of cutting-edge technology is vital to all these implications.. •Technology can also help to maintain intimacy and sustainable relationship as customers move towards digital banking and greater self-service.. Use innovative technology to deliver the retail bank of the future IMPLICATIONS AND INTERPRETATION Focus on customers need, give them more flexibility Technology will be key Seamless integration with digital and other inexpensive media all focused on customer needs The 3 PILLARS DELIVERING VALUE to CUSTOMERS OUR DECISIONS
  5. 5. 0 0.5 1 1.5 2 2.5 3 0 1 2 3 4 5 6 7 8 InteractivityLevel No of Channels Banks No of Channels Social Grades HDFC BANK 8 3.06 ICICI BANK 8 2.81 AXIS BANK 5 2.28 CITI BANK 5 2.02 YES BANK 6 1.97 KOTAK MAHINDRA 5 1.62 STANDARD CHARETERED 4 1.8 INDUS IND BANK 4 1.24 ING VYSYA BANK 3 0.79 SOUTH INDIAN BANK 3 0.72 KARNATAKA BANK 3 0.57 BANK OF PUNJAB 2 0.36 The Social Media Grades shows how active the banks are in the social media space Calculated on a scale of 5, the interactivity level of the banks in Facebook, Twitter, LinkedIn, YouTube and Blogs are taken into consideration No of channels represents the bank’s presence in any social networking sites Social Media Grades for the Private Sector Banks in India Data Taken from simplify360 social media analytics platform © InRev Systems 2011 Interaction Plot of the Private Sector Banks in the Social Media Space Interactivity level measures the engagement of banks like replying to customers, and other interactive campaigns carried out No of channels include the total no of social media sites employed by the bank like twitter, Facebook, blog etc. Kotak meanwhile has only 16868 followers on Facebook and 2 meaningful Facebook apps about offers and donate for a cause (check appendix for detailed comparison) From the interaction plot and the social grade table, we see KOTAK lies below other competitive banks in the social media space.  Great opportunity, tim e to improve. Twitter handle not utilized much for all banks opportunities for more interactions and engagement
  6. 6. According to Forrester Research 55% of consumers want ongoing conversations with companies and brands. 89% said they would feel more loyal to a brand if they were invited to take part in a feedback group. We as a team suggest some SOCIAL MEDIA STRATEGIES AND EVENTS TO DRIVE LOYALTY, ENGAGEMENT and REVENUE Customer Care APP: (KOTAK MAHINDRA CUSTOMER CARE: “WITH YOU, FOR YOU” )  FACILITIES (Promise to get back within 7 working days)  Click on the Customer Care app and you are taken to a page with the following options: 1. Online form: The customer fills in his details and elaborately describes the problem 2. GUI: Enter location in dropdown menu to get free hotline nos. of the customer care of that particular city Customers do not have to search on the internet for specific city nos., they can go to Facebook and easily find out. Better service + Flexibility 3. Give the name of a customer care officer and her/his email id and ask customers to write to her 4. If not satisfied someone higher in authority (Name, email and designation) More personalized services; shows that Kotak cares more about the well- being of their customer and how highly they are valued  DEDICATED “ASK_KOTAK” TWITTER PAGE: Customers to ask or note down their grievances against Kotak Mahindra  They can track problems of customers as and when tweeted. Replying with a solution helps in building a better image in the minds of the consumers  TWITTER still untapped by banks  LIVE CHAT (CONSUMER SERVICE) 1. Through facebook 2. GOOGLE+ HANGOUT All Kotak will need is a dedicated team of about 10 people handling customer requests who are not even afraid to apologize! Leverage “WITH YOU, FOR YOU” SLOGAN KOTAK MAHINDRA ASSISTS: A page where information about banking, ATM banking and all other functions/basic information are explained as FAQs. The page will also contain information about Kotak’s various products and services  Simplifies banking services for consumers  Promotion about their own services: FREE Payments APP: Currently present only through net banking extend to both mobile banking and Facebook i.e. both the mobile app and Facebook app to contain payment options  Rationale: gives the consumer more flexibility and choice. Becomes so easy for a customer to pay bills from wherever he/she feels comfortable from.  Mobile banking payments will allow him to pay bills on the go as and when remembered  Same footing as other competitors  App containing different payment options: Enter details and pay 1. Mobile, 2. DTH, 3.Insurance premium, 4. Electricity, 5. Gas, 6. Taxes and 7. Mutual funds Facebook apps Login into bank account app on FACEBOOK 1. Check balance 2. Check transaction history Gives flexibility, ease and choice to consumers. They decide the way to log into their bank account 1 2 3 4 SOCIAL MEDIA STRATEGY We suggest the increase in apps on FB to 9 from 1 as of now Detailed comparisons of banks: Social Media Page Appendix
  7. 7. Get deals APPs: (discounts or cash back offer) BUILD AND IMPROVE UPON THE ALREADY PRESENT SERVICES  dining : Select outlets e.g.  Make a status update  Tag us  Enjoy upto 30% savings on restaurants etc.  shopping : Online shopping through ecommerce portals  Offers + mobile service e.g. 1. Make a purchase 2. Register like get jabong 5767676 and get vouchers  Travel: Railways, buses and air. Tie ups with travel booking sites like make my trip and Expedia etc.  Entertainment : Movie and concert tickets  others(gifts) The Deals are primarily directed at the Loyalty Program Increasing the offers on display to drive loyalty Using Social Media to promotes such deals and encouraging use of mobile app and SMS increases engagement 5 6 App to calculate savings 1. Anti-smoking campaign: Calculate the amount you can save on cigarettes link to Subbu’s Saving tip 2. Save electricity campaign: link to Subbu’s Saving tip Subbu is used in marketing communication to talk about savings. Leverage the same to promote about social and environmentally relevant topics. Creates better brand image Earlier Now Link the current communication strategy on SUBBU’s saving tips to offers and apps on Facebook SOCIAL MEDIA STRATEGY The figure on the right side shows the current marketing campaign highlighting the great offers on E-Commerce platform earlier Subbu advised to shop online now Kotak is giving the same offers only to save MONEY Linking the 2 communication easy building and leveraging the successful campaign using SUBBU as an advisor The figure shows the transition  communication earlier on the FB page to now Same message and source to highlight relevant issues
  8. 8. • Target audience: 18-25 year old males!! • Rationale: A lot of youth open bank accounts at this stage and are well aware of offers and tech savvy too • What is it?? : An online communities of youth where they take part in a variety of events such as discussions, quizzes, polls about banking, problems they are facing, changes they want etc. 1. They get funds for each such activity which is measured by a tracker in the app. 2. There will be a referral option where one can refer the app to his friends and post on their walls. If his friends register, the customer gets 500 points as funds for every such referral. 3. With the funds one can redeem a prize like Xbox 360s, PS3s. Samsung Galaxy S2s, Nikon DSLRs 4. Every participant with over 10000 points are given a free account with the bank Serves as a community/forum. Helpful to get new ideas easy and inexpensive way of market research Gets many people on board reach increases and so does awareness. INCREASES ENGAGEMENT AND CREATES BRAND AWARENESS FB CONTESTS to drive engagements and Revenue  Create a special app for a monthly contest:  Duration 3 months; Customers tor register on the application  Customers have to start spending with their Kotak Mahindra Bank debit card to collect coupons. The app will be interactive to show the no. of coupons collected  Every Rs500/- spent in a single transaction gives you a coupon. Every incremental Rs500/- on the same receipt gives you another coupon. Every 6 such coupons gives a chance to win one of 8 Samsung Galaxy S2/ Nokia Lumia 800 smartphones to be given away monthly  Collect 12 such coupons to complete a card. The customer with the maximum no of cards will win a laptop or an IPAD.  One can earn extra coupons by inviting friends to sign up and spend using their CIMB Bank debit cards. Customers will also get bonus coupons at selected merchants.  ENGAGEMENT on Playing, REVENUE generated from the spending and LOYALTY from the OFFERS + ADVOCACY “SPENDING IS FUN” contest!! KOTAK MAHINDRA “Time to keep playing” Contest!!! Apply for recruitment: easy way to screen and inexpensive Find us/Store Locator Video repository showing usage of ATMs and other basic needs 7 8 9 SOCIAL MEDIA STRATEGY OTHER PROMOTIONS • Announce new branch openings on Facebook • Giving away Monthly vouchers worth Rs 1000 – Login to Kotak Mobile during the offer period – Do any of the following transactions and stand a chance to win*: • Transfer funds, Recharge pre-paid mobile, Pay utility bills or Pay credit card bills • Weekly contests on Facebook – Play a movie quiz every Wednesday to win couple movie tickets for every new Friday release
  9. 9. CREATING VALUE: Dedicated Customer Loyalty Program: Both a Challenge and an opportunity  Cutting measures due to financial pressures has made it more important to closely monitor customer experience.  Increasing the share in the customer’s wallet is the new mantra  Customers expect same level of service across all the touch points and expect a fair and transparent treatment.  Today’s banking customers are spoilt for choice. With few barriers to entry, customer preferences have become increasingly mobile.  Customer loyalty is a precious commodity which must be safeguarded at any cost  Visibility is extremely important when it comes to a loyalty Program.  Banks need to have a dedicated loyalty program in order to differentiate in an industry of similar financial products and services Kotak Mahindra Bank’s current position in terms of a loyalty program  KMB offers its major loyalty offerings currently by discounts and cashbacks on platforms such as, CineMax , Dining offers and similar offers with Nokia and eBay  Kotak appears to favour product usage or transaction frequency.  Since banks’ businesses are hugely relationship oriented, their loyalty programs must also be of similar persuasion  customers need to be rewarded on every aspect of the relationship (not just on number of transactions) “ ” : Kotak’s new Loyalty program (overview)  Will emphasize majorly on creating a relationship with the customer at all the touch points (including online and offline)  Will reward customers for their relationships in entirety: and not just on the number of transactions and usage.  Kotak would consistently value its customers irrespective of the revenues they bring  Inclusive Loyalty Program: Less stringent criteria to qualify for loyalty rewards in this particular program  Rewarding longevity: offering greater rewards to customers that have stayed with the bank for the longest length of time or made repeat purchases “Lasting Accord”: Special Loyalty Program for premium customers (overview)  Special admiration given to the “premium customers” through this reward scheme  These customers made aware that they are a high value asset for the bank with interaction programs  A premium customer should be highly visible in a lot of all customers- added value  Bank to reward premium usage such as flying business class by corporate clients, 5 star, resort booking with a specially designed KMB’s credit card only for its premium customers How? We suggest 2 loyalty programs Detailed Comparison of loyalty programs: Check APPENDIX
  10. 10. Delivering Value: Launching Kotak Mahindra Bank’s dedicated Loyalty Program “ ” : (detail) Salient Features  Encouraging the use of latest mediums: Each time a customer uses mobile or Internet banking, subscribes to alerts via SMS or visits an ATM instead of a branch, he or she is awarded reward points  Kotak will create “Customers are Owners” network which will aim to reward customers for “everyday banking”, and acknowledge the importance of both the depth and monetary value of customer relationships  Automatic membership to the program as soon as a customer opens a bank account with Kotak: creating a pull  By rewarding the full scope of relationships ranging from checking and savings to loan applications, the program encourages customers to do more with Kotak, and also with their cards  Inclusive loyalty program: This program will include all the Kotak bank customers and while this may create a “feel good” factor for the customers, it would create a sustainable relationship with each and every customer of the bank  Redeem the reward points for a number of inbuilt online features and schemes over a wide range of products and services PRINTAD1
  11. 11. “Lasting Accord” : For premium customers (detail) Salient Features  Reward points offered on a special premium credit card called “superioron” offered just to premium customers identified by Kotak- points earned on every rupee spent with predefined merchants both online/offline. Customers to earn up to 10 points on every Rs 150 spent  Option of redeeming the points with cash back, e-vouchers for major fast food outlets, fare reduction with major airlines  Redeem your points online  Log into internet banking  Click on ‘Premier Card’ within the ‘My Accounts’ section  Click on ‘Superioron Rewards’  Redeem your points by phone  Have your Kotak Premier Credit Card account number to hand  Place your order with the specially dedicated Kotak Premier team  Kotak will create “Premium ownership” network which will aim to reward premium customers for “everyday banking”, and portray the estimation of the premium customers’ importance for the bank PRINTAD2
  12. 12. TECHNOLOGY IS KEY!! Kotak Mahindra provides links to download the forms which can be filled and submitted in the nearest branch to open account.  IMPROVEMENT POSSIBLE Customers on filling the form online would be sent a welcome kit , cheque book including a working ATM/debit card within 2 days A banking correspondent would deliver it. He will take the signatures and other proofs from the doors tep The account will then be activated in 24 hours. Thus from the form fill-up to account opening duration =3 days flat The option of opening a bank account will be available through Internet, mobile as well Facebook SUGGESTION KEEPING CONSUMER NEED IN MIND ADDS VALUE Online Account opening: 3 DAY GUARANTEE!!PROMOTE NEW FEATURES OF TECHNOLGY OR MOBILE BANKING ON FACEBOOK  MOBILE SERVICES: With your User ID and password in place online banking is smooth, convenient, easy . Easy way to remember net banking id, next time you are shopping online  Sms “userid” to a no like 567676  Mobile recharge for DTH and cellphone: Type KOTM <mobile no><operator><recharge amount><last 6 digits of the debit card (net banking user id)> very innovative and adds VALUE as it removes the need of internet, sure to garner huge interest and adoption Promote usage of Mobile banking with offers: ”Kotak Mahindra brings to you banking anytime anywhere. Transact using the Kotak Mahindra Mobile App and get a chance to win Flipkart vouchers everyday!!” Easy to use, people know how to SMS- more convenience and flexibilty to consumers RFIDforpersonalizedservice The Need for Personalized service •Although employees can not know the names of every customer who comes through the door, many clients may expect them to do so, and do not want to announce their own names How will the bank leverage? •When the customer leaves the bank, the readers again capture the card's ID number, indicating a transaction has been completed. The bank can evaluate how long customers waited before being selected by someone from the relationship- management team, as well as how long the client took to complete a transaction. Cashacceptor What is the Need? •One of the main hindrances to complete branchless banking is the limitation that deposits have to be made at the branches only. However, with the help of cash acceptors, this limitation could be overcome. What it is? •The machine called cash acceptor — that looks like an ATM — where you can deposit cash. The machine not only counts the cash, but also authenticates the notes and credits the money to your account in real time. Makes life easier for consumers CompleteBranchlessBanking What is Branchless Banking? •Branchless banking means you do not need to go to the branch of the bank to open an account. Its all done online. All transaction are also online. If you need a demand draft or a cheque book, it will be delivered to your home. The advantage is convenience of banking, lower transaction costs and higher interest rates.
  13. 13. APPENDIX  Primary research findings with graphs  Competitor Analysis- Social Media Page  Comparative Study: Offers of Banks  LOYALTY PROGRAM COMPARISON OF BANKS  Other technologies suggested
  14. 14. 42% 45% 6% 6% 38% 6% 6% 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% Trusted brand name Friends/parents/reference group suggested Saw ads in print media Saw/Heard ads in TV/Radio/Movies My previous experience with the new bank was good, so opened… Came across a promotional campaign in the city/mall/stores etc Others Selection of new banks: factors When it comes to money, trust is the most important factor to decide which bank to open an account in. Previous brand image and an expert opinion plays a pivotal role here 3.87 3.71 3 2.95 2.88 3.55 0 0.5 1 1.5 2 2.5 3 3.5 4 4.5 Face-to-face discussion with friends, family and colleagues Financial comparison webistes Financial advisor Media reports Competitor advertising Online Personal networks/trusted communities Information Sources Secure and trusted opinions count for banking customers. Personal Networks and trusted financial communities are the most trusted source of info to be updated about bank offerings 39% 16% 7% 17% 21% Social Network Find out more about their products and services Access my account Share budget and spending patterns Share great offers related to banking Comment on the level of service I have received Customers like more interactive platforms. Social media is the most used platform for knowing a bank’s products and services 76% 24% 62% 12% 0% 10% 20% 30% 40% 50% 60% 70% 80% Expect advice on complex products to be a part of the standard service that the bank provides Prepared to pay separately for advice on complex products Prepared to pay for basic services if the services are improved Prepared to pay for advice on complex products if the advice was completely independent expectations in terms of paying Customers need more value in use. Most consumers seek expert advice on complex products as a part of standard service offering 38% 24% 21% 17% Improvements Communication clarity Standard terms and conditions Service quality Personalization Improved Marketing mix plays an important role. Communication clarity is the most important factor to improve satisfaction among the customers Bank loyalty is high in consumers. Most customers are unwilling to shift from/change their current bank. But poor services can woo them away 24% 76% bank shift Yes No Results of the Primary Research: Survey Number of respondents – 79 Males – 74%, Females- 26% Income range: <5 lakhs – 19%, 5-10 lakhs – 48%, >10 lakhs – 33% Age group: 21-25 yrs – 24%, 26-30 yrs - 35%, 31-35 yrs - 21%, >35 yrs – 20%
  15. 15. Loyalty programs are of utmost importance. Niche customers want their loyalty to be rewarded by premium offerings (something different from standard) 76% 24% Branchless Banking Yes No Consumers are changing their banking services usage platform. Most consumers (approx. 76%) prefer branchless banking (entirely online). 58% 66% 54% 56% 58% 60% 62% 64% 66% 68% If you actively use three or more products from a bank, that loyalty should be rewarded with better service If you actively use three or more products from a bank, that loyalty should be rewarded with lower fees or higher rates on deposits Switching: Loyalty Program 8% 6% 29% 3%10% 23% 21% Loyalty Program Services Price reductions on bank products and services Gifts Cash-back on credit/debit cards Nothing, I don’t pay any attention to loyalty/rewards programs in banks Premium services from the bank Price reductions for partnerships (cinema, retailer, etc.) Air miles/hotel points People are more willing to accept rewards in form of cash back rather than in kind. Major consumers value cash back on credit/debit cards as a main source of rewarding their loyalty 74% 73% 69% 76% 74% 76% 78% 72% 75% 75% 76% 73% 74% 64% 66% 68% 70% 72% 74% 76% 78% 80% Recommendations Rewards / Loyalty Programs Brand Image / Reputation Personal Relationship Branch / Bank Locations ATM Locations Accessibility / Convenience Quality of Advice Ease of Use Interest Rates Instant response to its customers Schemes and offers. Behavior of employees Factors affecting loyalty Accessibility (presence of ATMs included) and personal relationship are the most important factors in keeping loyalty with a bank 76% 82% 68% 79% 74% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% Page Setup/ Menu Flow Ease of use/ Navigation Speed of page loading Variety of transactions General assessment about the service Factors: Internet Banking Nowadays consumers want things to be as simple as possible, so that they do not have to put in much efforts 91% 82% 63%65% 89% 80% Factors influeincing banking experience Internet banking Mobile banking/payments Social media Telephone ATM Branches Internet banking and ATMs are the most influential banking experiences LINK OF SURVEY:
  16. 16. Competitor Analysis- Social Media Page Facebook page? If yes, no of Likes Yes, 588489 Yes, 822408 Yes, 39303 Yes, 337852 Yes, 474195 Twitter page? If yes, no of followers 52 6028 885 4385 11646 No of facebook apps 9 8 7 3 7 What are they? • Mere zindagi ki picture – create your own personal movie celebrating the moments • Mere zindagi ka safar – reliving the journey of your life • Plan your money – cigarette calculator, power of 1000 calculator, eating out calculator, mein banoonga crorepati calculator • Customer Care • Axis Bank Branch • A to Z offers • PicBadges • Buy Tickets • Axis Speedpay – pay all your bills instantly • Your Bank Account – on Facebook, lets you check your account details, get e- statements, Upgrade debit cards, request cheque books • iArena – the gaming application • Khayal aapka photo contest • Product Suite • Bank-on-the-go • Offer zone • Customer care • Locate us • Locate us • Customer care – Yes Touch Service • Product Suite – savings account, global Indian banking, wealth management program, senior citizen program, fixed deposit • Money Monitor – personal finance tracking tool • Events • Offers and Privileges • Twitter • SmartBuy offers - exciting deals and discounts on HDFC Bank Credit Cards with SmartBuy – computers, electronics, mobiles, watches, appare l, jewellery, books, gifts, t ravel accessories • Products – Accounts and Deposits, Credit Cards, Loans, Service • Twitter • Cash Back • Weigh your wallet – get to know who you are when it comes to money • My Citibank privileges – Personalized Offer Recommendations from Citibank • Connect – Access all your account information on Citibank Online • The Delight of Delhi •The magic of Mumbai •Global – continent wise global reach of Citibank Axis Bank ICICI Bank CitibankHDFC BankYes Bank Kotak meanwhile has only 16868 followers on Facebook and 2 meaningful Fb apps about offers and donate for a cause
  17. 17. Banks HDFC AXIS ICICI CITI BANK YES BANK INDUSIND SBI KOTAK MAHINDRA Online Shopping Online shopping offers on Mobiles, other electronic devices, jewellery, watches, gifts and travel accessories shopping at many major Online stores, get to know about the current special offers/discounts and get a preview of the new items added on to the shelves by these online retailers/service providers Air, Rail travel Vouchers, holiday packages, electronic gadget purchase offer, books, toys and games, Dining and culinary treats Visit any of the mentioned websites and buy through reward points Debit to savings/current accounts covering categories like Apparels, Hotels,, Gifts, Florists, Electronics, etc No specific catalogues on their site, just IndusInd Bank e-Secure confirms your identity through a simple check process when you make online purchases Accessories, automobiles, books, consumer electronics, entertainment, finance, gifts, jewellery etc. One of the largest catalogues in the industry Apparel, Artefacts & Collectibles, Astrology Ayurvedic Products, Books & Periodicals Education, Electronics & Household Items, Florists, Gifts, Hotels Bill Payment Postpaid and prepaid mobile payment .DTH services of TATASKY. Insurance premium and subscriptions of India Today Electricity, Gas, insurance, mobile and telephone, municipal taxes, mutual funds payment Discount on bookmyshow bill payment Postpaid mobile, insurance, DTH, donations, subscriptions , electricity, mobile recharge, landline Insurance, donation, charity, subscriptions, mutual fund, Gas, Utility, mobile bill payment Telephone Bills, Electricity Bills, Mobile Bills, Recharge your Prepaid Mobile, DTH Recharge , Insurance Premia, Gas Bills SBI e-PAY- pay for E- ticketing, e-tax, telephone bill, electricity, insurance, credit cards MTNL, BSNL, Airtel & telephone/mobile bills, Electricity Bills, Pay Visa Credit Card Bills, Pay Insurance Premiums Debit Card Offers Benefits on fast food outlet payments, hotel booking and online movie tickets booking free domestic ATM transactions, personal insurance, only Debit Card that is well and truly your own, since you even decide how you want it to look. Earning Payback reward points for redemption, cashback on mobile recharge, Bonus Weekend offers; for example on buying Apple iPad 2 Tablets No additional Debit card offers Attractive discounts at TGIF stores across the county, 20% discount on VLCC day, discount on visiting resorts Discounts on apparels to electronics, from dining to travel & holiday, from jewellery to wellness Cash back on debit cards, pay for purchases, restaurant bills, hotel bills, airline tickets and other purposes Discounts on shopping at eBay, cinemax, infiBeam,, tradus, discount on Apollo hospital health check Credit card offers Easy EMI payment offers, online mobile recharge, travel bookings, special discounts on family restaurants Use your Axis Bank Card & Get Rs 250 off on a minimum purchase of Rs. 999, Extra 15% Off on all products exclusively for Axis Bank Card Holders Offers on selected dining, cash back on fuel purchases, entertainment Special ICICI Jet Airways credit card (free miles on joining) Offers on dining, shopping, entertainment, travel , paying of EMI (major benefits for credit cards only) shop online, pay hotel bills, plan vacation, pay fuel charge, pay shopping bills, accident insurance, lost card protection Dining Offers- offers from the leading restaurants, Travel Offers- tied up with the topmost in the airlines, travel and hotel industry SBI spiceJet card-Cash Back, SpiceJet Discount Vouchers, Excess Baggage Vouchers, Lounge Access & Incremental rewards on your spends Domestic Flights- Rs.250/- caseback per booking ID, Domestic Holidays:- 7 % cash back International Holidays 10% cash back on base fare Other offers Special benefits on shopping from eBay India and relish sumptuous meals at a famous restaurant or get the choicest of consumer durables in super discounted prices with and Prepaid cards to purchase anytime and anywhere, corporate cards for business travel and vendor payments Loan on credit card, Redeem Reward Points in return of air travel miles, cash back and other gift vouchers YES BANK - BAJAJ Allianz Jiyofit Programme | A Zero Balance Savings Account with various health benefits All IndusInd Debit Card holders will get a discount for different travel services availed at by using their IndusInd Debit card. 2% discount to all on sale of gold coins of 500 grams or more at any one time . Holidays and Hotel Booking for SBI Credit Card Holders Royale Signature Card -Access to 600 VIP Airport Lounges Worldwide Fuel Surcharge waiver Exclusive dining benefits at the Taj Comparative Study: Offers of Banks
  18. 18. Bank Name HDFC ICICI Bank Kotak Mahindra CitiBank Axis Bank Yes Bank Different Loyalty Programmes My Rewards Payback, Hand picked Rewards Kotak Card Benefits Suvidha Titanium Rewards Debit Card, Gold Debit Card BAJAJ Allianz Jiyofit Programme General Terms and Conditions Card member must accumulate a minimum of 500 points to be eligible for redemption of Reward Points in the MyRewards redemption program Earn while you spend with our exciting reward program. Get 1 reward point for every Rs 100 of POS usage on your Titanium Rewards Debit Card. Reward points can be redeemed against exciting gifts, merchandise and gift vouchers, need to collect 400 points before starting to redeem A Zero Balance Savings Account with various health benefits. This program looks to promote a proactive and preventive approach towards improving one's health & fitness. With the Jiyo Fit Debit Card, you have the power of healthy options, all in the palm of your hand. Get Health Insurance cover, and gain healthcare benefits such as discounts & special offers at gyms & fitness centres, health-food restaurants & stores, chemists, spas, and lots more. Features Reward points offered on different types of credit cards- points earned on every rupee spent with pre-defined merchants both online/offline. Regalia, Infinia- special type of credit card offered to the premium customers to earn up to 8 points on every Rs 150 spent earn PAYBACK points on purchases from ICICI Bank Credit Cards and Debit Cards. Earn even more points at HPCL, and many more PAYBACK partners in your city or online and redeem your PAYBACK points for fabulous rewards Redeem Hand-picked Rewards against a wide range of exclusive options. Choose from fashion to fragrances, dining experiences to holidays, home entertainment to hi-tech gadgets and a lot more. Each item has been carefully hand-picked to ensure that our card members* get only the best. makeMyTrip:Domestic Flights: Rs.250/- cashback per booking ID, 5% cashback on domestic holidays, 7% on international, 10% cash back on base fare of the international flights CineMax: Buy 1 Ticket and Get 1 free on Saturday and Sunday at Wine and Dine Delights: Save up to 20% * on dining across 120 restaurants, similar discount options with Nokia and ebay Using Citibank Suvidha Account, the more banking services you use, the more Suvidha Loyalty Points you earn. You can redeem your Suvidha Loyalty Points online for a wide range of gifts Reward program, enhanced limits for cash withdrawl, flexibility of usage, fuel surcharge waiver, insurance, access to airport lounges, online payments, worldwide reach, customer care, etc Axis Bank has announced the launch of Swipeon, a mobile phone based card acceptance service which will convert any mobile phone into a card acceptance device by simply attaching the Mswipe card reader to the phone. Obopay - Mobile Money Services - This service will enable consumers to transfer money to other individuals, pay utility bills as well as recharge prepaid SIM cards (top- ups), by using their mobile devices LOYALTY PROGRAM COMPARISON OF BANKS (1/2)
  19. 19. Mobile Apps and other feautures Android App-This application helps you check your account balance, transfer funds, pay your bills and conduct many other transactions while on the move ngpay App- you can bank on the move. With ngpay you get a range of services from a network of partners. Book tickets, shop or transfer funds, there are so many possibilities. iMobile- ICICI Bank's mobile banking application. Easy, convenient and secure to use, iMobile lets you transfer funds, pay bills, book travel or movie tickets, recharge your prepaid mobile and DTH, locate an ATM etc Mobile Banking: Menu driven service - no need to remember complex codes Citi Mobile- Simplest and most convinient way of accessing the banking services while on the move, regular updates on the dining offers across the city Use CitiBank Online (on a mobile browser) to check the balances in your linked accounts—checking, savings, credit card, home equity or personal lines and loans, and mortgages Pay bills and track payments Deposit checks into your personal checking account using your mobile device See recent activity Transfer money between your Citi accounts Send money to other people with Popmoney Mobile based card acceptance is expected to benefit merchants with home delivery services, cash-on- delivery agents, taxi drivers and others as they can easily accept card payments on the go, with very small investments on their part. Enjoy surcharge waiver on fuel spends at all fuel stations across India with your Axis Bank Titanium Rewards Debit Card. There will be a cap of Rs. 200 on the monthly amount of fuel surcharge waived and no reward points will be awarded on fuel purchases Discounts and other offers 10% Off on Domestic Flights subject to maximum of Rs. 200 10% Off on International Flights subject to maximum of Rs. 500/- 10% Off on Domestic Hotels subject to maximum of Rs. 500 on ebay Credit Card Shopping- 5% Off Debit Card- 5% Off Net Banking- 10% Off Travel Vouchers with Cashback on booking with Discounts at selected outlets 15% Discount at dining at selected restuarants Check your account balances for Current, Savings & Term Deposit accounts Transfer funds between your accounts or other accounts in Kotak Bank Send and receive money from your mobile instantly via Interbank Mobile Payment Service (IMPS) Make payments to selected merchants via IMPS Merchant Payments Purchase & redeem Mutual Fund units Report loss/theft of Debit Card and request for replacement Check status of your Cheque instruments Request issue of new Cheque book Pay Utility Bills to over 150 service providers The Titanium Rewards Debit Card grants you access to premium airport lounges in Delhi, Chennai, Kolkata, Mumbai and Kochi. No more waiting in long queues. Pay your telephone, mobile or utility bills, book movie, train or flight tickets or shop online from the comfort of your home using your Titanium Rewards Debit Card. Extra 15% Off on all products exclusively for Axis Bank Card Holders Use your Axis Bank Card & Get Rs 250 off on a minimum purchase of Rs. 999 by using Promocode AXIS250. Discounts & Special Offers from Gyms, Spas, Beauty Clinics, Diagnostic Centers and Retail Chains Cashless admission to Bajaj Allianz networked hospitals just by producing the Jiyo Fit card at the counter nstant & Hassle-free claim preauthorization and re- imbursement using the Jiyo Fit Card Special Offers from Brands, Airlines, Hotels and Restaurants Earn and Redeem loyalty points at Partner Outlets LOYALTY PROGRAM COMPARISON OF BANKS (2/2)
  20. 20. THANK YOU