ING Hunt for Lions

2. Digital Banking
– A New Way Forward

3. Banking
Banking is one of the most essential and important factor in one’s life as it
deals with cash and cash transactions. Financial needs are equally
important in life for enjoying a comfortable economic status and hence
banking sector plays a vital role for all of us.
Few decades earlier, banking was available to few classes only i.e. the elite
section of the society was getting banking facilities as banks were limited in
numbers and mostly accumulated in urban areas and metro sectors.
Due to Introduction and adoption of technology in the banking sectors, the
nature of the traditional banking substantially changed, as now it is not
confined only to urban and metros cities.
Banking
Traditional Digital
Branch ATM Call Centre Internet Mobile SMS

4. Branch Banking
Branch banking is the act of doing one's banking business at
a location. A location where greater variety of services and
products become available to a broader public at once.
Strength
• Safety of transaction
• Easy to use
• Availability of support
• Less chances of failure
• Build trust in a customer
Weakness
• Time consuming
• Management is Complex
• Can’t be accessed 24*7
• Monopoly
Branch
ATM
Call Centre
Threat
• Change in the preferences
of the customer
• No Proper Facilities To
Uneducated customers
• Decentralized Management
Opportunities
•New Customers can be
targeted easily
• Can be made available to
large number of people in a
unbanked area

5. Digital Banking
Digital banking means more than just going paperless. This
type of banking involves the technology and enhances the
customer experience by providing services and products on a
digital format.
Internet
Mobile
SMS
Strength
• Fast and safe transactions
• 24*7 Available
• Simple and Easy to use
• Attract new customers
Weakness
• Only for educated
customers
• Connectivity
• Transaction failure
• Less customer support
Threat
• Change in the technology
• No Proper Facilities To
Uneducated customers
• Outdated and changing
technology
Opportunities
• New Customers can be
targeted easily
• More technology can be
introduced
• future customers can be
identified

6. ING Vysya Bank Ltd is a premier private sector
bank with retail, private and wholesale banking
platforms that serve over two million
customers. The bank was formed from the 2002
acquisition of an equity stake in Indian Vysya Bank
by the Dutch ING Group.
ING Vysya is the seventh largest private sector bank in India and as
of June 2014, the Bank had 563 branches and extension counters, 25
satellite offices and 640 ATMs. ING Vysya is one of those banks that
gives respect to technological innovations in their products and
services.

7. Road Map for in Digital Banking
To propose a road map for ING Vysya to move towards digital
banking a research was conducted. This research consisted of a
survey conducted on a sample of 112 customers of various
banks. The survey was conducted in Ranchi, India. According to
the research done these are the four suggestions for ING Vysya
that will lead it forward in the new age of banking.
 ING Vysya should go for more Customer Centric Approach,
 ING Vysya should target the rural areas,
 New ways to engage customers and future customers, and
 Integrate the various product and services in then Digital
platform for better customer experience.

8. Customer Centric Approach
Most banks never create a close relationship with their retail customers
and understand little of their actual needs. Tailored products and
services in digital banking are rare. Instead, complaints about
inadequate services, slow transactions and inefficient customer support
surface in the news with depressing regularity.
The journey towards customer centricity will offer ING Vysya bank the
golden opportunity to create a new trust-based bond with their
customers through the digital banking.
 Organise around our customers
 Intelligent deployment of technology
 Empower our people
 Simplify product offering
„Provide transparency on pricing/charges
„Increase penetration of online and mobile applications

9. Customer Centric Approach in digital banking can be achieved through
Analyze the needs of the existing
customers through there purchasing
and social media behavior.
Design product and services for digital
banking. These can be opening of a
account online. Requesting for a loan
and other facilities.
Availability of customer support 24*7
Customer support should be given to
the customers through live chat,
Video chat and through social media
platforms.
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10. Social media is one of the fastest growing channels in
banking and banks need to fully mobilize it. A few banks
have already begun the shift from using social media simply
as an engagement tool to actually marketing products and
services through the channel.
Internet and mobile banking, and social media, generate a
lot of useful data about customers. This data can be further
be used by ING Vysya bank to capture the customer needs.
The engagement of ING Vysya on the social media will not
only help to connect with the ING customers but also the
future customers.
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11. ING for Rural India
The digital platform can go a long way in achieving the goals of financial
inclusion by using technology solutions to reach the rural population.
ING Vysya Bank needs to realize that products rolled out to the rural
population need to be tailored to suit their wants and be flexible enough
to allow for quick withdrawals, deposit of small savings, etc.
Furthermore, there is a need for simplicity in products so that it is easy
for these customers to understand and invest. Piggy-backing on the
reach and penetration of mobiles in the rural hinterland, ING Vysya
should use mobile technology to reach out to this belt.
Mobile Banking has facilitated
many functions such as
payments, the transfer of funds,
etc for those with small savings
and the need to remit money on
a periodic basis.

12. New way of fund transfer
A ING Vysya customer can transfer money to any person in
India, who has the ING mobile application. This can be done
in three easy steps:
1. Type in the name of the person,
2. The phone number of that person,
3. Create a Pin Number for the transaction.
The person will receive the money on his ING app. Now the
person will go to the nearest ING Vysya Bank and will show
the app to the cashier. The QR code on the app will be read
for completion of the transaction.
The Cashier will ask a copy of the Identity and address proof
and the Pin . Transaction complete, Person will receive the
Amount.
ING VYSYA
Customers
Any Person
The person will show the
app to cashier.
The QR code and the pin
will be identified and will
get the money.

13. Executive Summary
This report provides an analysis and evaluation of the branch banking and
digital banking. This report tackles the important question: how can ING
Vysya bank achieve success in the digital banking.
The research draws attention to the fact that the digital banking will be
the future of the banks in India. Results of data analysed shows that the
customers need secure and fast transactions and services which can save
their time.
The report recommends a road map for ING Vysya bank to move towards
digital banking. These recommendations are
• Moving to a more customer centric approach,
• Target the rural areas through technology,
• New ways to engage customers and future customers
These suggestions will help ING Vysya to become the pioneer of the new
enhanced digital banking.

14. Conclusion
India's banking industry could become the fifth largest banking
sector globally by 2020 and the third largest by 2025. These
days, banks in India are turning their focus to servicing clients
and improving their technology infrastructure, which can help
better customer experience and give them a competitive edge.
ING Vysya can gain the popularity of internet and mobile
banking at this time with the help of the customer relationship
management (CRM) and data warehousing. By going with this
research and findings ING Vysya bank can drive the next wave of
banking technology in the country.