The document summarizes research conducted to understand customer insights into digital banking. It found that recall and usage of services varies, with some services needing more marketing. Customers face issues like security and slow internet speeds. The research implications are that dissatisfied customers of other banks could be attracted to ING by addressing issues like wait times. A digital roadmap is proposed that includes improving the mobile website experience, identifying and rewarding loyal "Mehatva" customers, and targeting new customer groups like students and corporate employees.

2. Executive Summary
 The objective of the case study was to garner customer insights through
primary and secondary research
 Various online and offline publications were studied and primary research
was conducted
 The primary research consisted of a field study with 108 responses (20 offline
and 88 online)
 The survey gives insights on the recall and usage rate of 16 digital banking
services, satisfaction level with their current bank’s services
 Other insights – factors for going digital, problems faced while using digital
banking and attributes valued while choosing banking services
 Based on the study a digital roadmap has been prepared with three steps
 Improved dashboard demo, mobile website
 Introduction of most valued Mehatva customers
 New customer acquisition – target institutions and corporate joiners

3. Results and Analysis
 The following chart shows the usage and recall rates for various digital
banking services provided by banks
 Low recall services needs to be marketed more to make the consumer
aware
 Low usage services- Customers should be rewarded for first time usage of
services

6.  The users have faced security issues, this factor needs to be
covered via marketing
 Users in India are marred by slow internet speeds, which can be
covered via mobile 3G data

7. Implications of the research
 Customers who are satisfied with current banking services can’t be moved
to ING
 Customers who are not satisfied, can be enticed towards ING digital
 By working on the parameters that they are unsatisfied with their current
bank
 Waiting period and line management at branch
 Single window services, bank’s operating hours, customer feedback
 Introduce Mobile website- m.ingvysyabank.com
 The recall and usage rate for mobile website is higher
 More people are using mobile website to do transactions
 71% of respondents choose technology to reduce transaction related time
 69% respondents are in favour of using mobile banking
 Quality of service and technology have become the biggest factors for
choosing banks

8. SWOT- Strengths and Weakness
STRENGTHS
Customer access to information 24 hours a day
Ability to offer a customer more than one method
of retrieving information
Sophisticated technology systems
Fund transfer facility- no need for use to travel
Diversity helps to capture different types of market.
The ability to cut internal cost due to advanced
technology
Customer loyalty and CRM
Increased accuracy of banking transaction
WEAKNESSES
High initial cost of infrastructure and
customer acquisition
Continual wants of customers wants and
needs
Hostile feelings of employees due to
possible pending layoffs due to automation
Multiple option for the customers
Initial investment in technology will be
expensive
Opportunities
The ability to have a larger customer base
Rural expansion- capturing enormous market
in previously unreachable places
Better connect with the Gen Y
Threats
Continual changing technology
Uncertainty of the banking industry
Competition from the lower price operation
Possible failure of product due to non-acceptance
of customers

9. Digital Roadmap - highlights

10. Digital engagement for customers
 Social media engagement
 Invite feedback on social media – use of handlers to provide mediation
 Invite inputs on product development
 Help customers identify additional services
 Financial control on-the-go
 Offers through mobile app push messages
 IMPS based message recharge and irctc ticket booking
 Integrate customers insights with CRM data
 Use of analytics to infer the opinion leaders in their target segment
 The most affectionate and regular users – who feel connected to ING bank
 These customers would be termed as Mehatva Customers

11. Use of Predictive Analytics
Mehatva
customer
Reduce
marketing
costs
Publicise
the gift -
ATL
Better
targeting
and
customer
profiling

12. Reward the Valued Customers
Use of advertisements in
newspapers
To showcase how ING
rewards it’s customers
The gift would be
extended to Most-
Valued “Mehatva”
customers
The Fossil Watch is for representational purposes.
The gift should have enough brand power to be able to attract the readers
The non-ING customers would also be enchanted towards using ING Digital Banking

13. Cover the security risk factor
 Brand ING as a Safe way to bank - through advertisements
 This mitigates the customers’ concern about security of online banking
 Integrated Algorithmic protection = Safe Digital Banking
 Find out about how ING has implemented patented algorithms to
provide safe digital banking for all its customers
 Supported by videos on Youtube and website
*representational advertisement

14. Website changes
 ING should work on enticing customers by showcasing better services which
score low on other bank’s parameters
 A Demo of the digital banking – view dashboard navigation and functionalities
provided
 Interactive HTML5 dashboard demo
 user interface and navigation
 all account related information at one place- multiple accounts under same Id
 Easy access to feedback and service requests
 Personalisation and customisation
 Allow customization of dashboard
 Simplified Transaction Process
 Start a mobile website with on-the-go fund transfer @ m.ingvysyabank.com

15. Target students and corporates
 India has a ready user base of 20000 students who would move to Affluent
class every year
 Identify institutes like B-schools where students have higher income potential in the
next 5 year horizon
 Provide full service with lower charges for first 3 years
 Convert them into full potential customers- reaping benefits
 Open accounts on joining day of colleges or during conclaves via banking
partner (sponsor of events)
 Offer free movie tickets on first time use of digital banking
 Target new joiners at corporate level
 Open accounts then and there – on joining day as salaried accounts
 Provide exclusive restaurant discounts when paying by using the mobile app

16. Conclusion and references
 ING bank needs to apply predictive analytics via its partners
Mindtree and IBM
 This would help in real time customer insights, improved customer
service and anticipation of digital information
 The bank should also complement mobile app with mobile website
 The bank should install cash collection machines at ATM’s and use
banking correspondents to improve off-branch cash collection
 Reward valued customers with aspirational gifts which can be
advertised in business newspapers
http://www.accenture.com/Microsites/banking-digital-innovation/
Documents/Accenture-PoV-Banking-Digital.pdf
http://www.pwc.com/en_GX/gx/banking-capital-markets/
publications/assets/pdf/pwc-new-digital-tipping-point.pdf