ING Hunt for Lions

2. A ROAD MAP FOR
ING Vysya
Bank
DIGITAL
TRANSFORMATION

3. 3
Challenges faced by Branch Banking

4. 4
Solutions identified

5. 5
Solutions identified

6. 6
Solutions identified

7. 7
Solutions identified

8. Branch Banking
Strengths
• Confidence.
• No danger of online
failed transactions.
• More secure.
Weaknesses
• Cumbersome to
travel.
• Branches may not
be in your area.
Opportunities
• Branches can be
increased in rural
areas.
• Eg: JanDhanYojna in
India
Threats
• IT revolution.
• Online
transactions are
efficient and
quick.
SWOT
Analysis

9. Digital Banking
Strengths
• Diminished transaction
costs.
• Easier integration of
services.
• Interactive marketing.
Weaknesses
• Security threat
• Uneasiness with the
rural population
• Liquid cash can be
manipulated
Opportunities
• With JanDhanYojna,
banks will be overfilling
with customers soon
• With so much untapped
population it becomes a
necessity
Threats
• Cyber security
• Difficulty in maintaining
so much data
• One attack on the bank
and millions will be
affected.
SWOT
Analysis

10. Industrial Digital Transformation
10
Source: Digital_Transformation__A_Road-Map_for_Billion-Dollar_Organizations by Capgemini Consulting
Source: Pew Research Center August 2013 The Financial Brand

11. Customer Insights
11
Preferences
Online banking
Branch Bankng
Neutral

12. Product Offering Comparison
12
BANK NAME PERIOD OF FIXED DEPOSIT
ING Vysya 366 to 730 days
Central Bank of India 777 days
IDBI Bank 5 years
Axis Bank 2 Years < 30 months
Comparison of Periods of FDs of Major Banks (Source: allbankingsolutions.com)
Home Loan comparison

13. The Road Map
eTransfers,
Mobile
payments
Analytics and
CRM
Digital tools
Online
communities
and support
• Using internet as a
medium: either through
computer or mobile.
• Mobile Payment using
• SMS
• Direct Mobile
Billing
• WAP
• NFC
• Relationship with the
customer maintained
over internet. (CCRM).
• Customer inputs taken
(via social media) and
solution found out.
• Money management
tools to aid customers
in financial
management.
• View expenditure,
savings and income
activities.
• Open forums to discuss
schemes.
• Feedback from
customers via forums.
• Latest information
(regarding a scheme or
a policy) to be posted
on the forum.
Outcomes Activities
• Ease of payments.
• On-the-go payment.
• Quicker transaction.
• Easily approachable.
• Customer satisfaction is
taken care of.
• Brand loyalty.
• Providing germane info.
• Immediate visibility to
valuable insights.
• Ability to track budgets.
• Customer profitability
and cross selling
• Transparency.
• Building confidence in
customers.
• Increased marketing
13

14. Road Map (cont..)
Virtual Assistant Digital Signage
Mobile Apps
and social media
Other
• VAs are either self
employed or under
company management.
• Provide customer
service through e-mail,
internet and more
recently through Skype,
Google voice etc.
• Digital ads to attract
customers.
• Using LEDs, LCDs for
hoardings or spreading
graphic images, videos,
streaming media on the
net.
• Use of apps for
assistance (as done by
ING in Netherlands in
collaboration with
Nuance).
• Social media ads to
capture the next-gen.
• E-signatures
• QR scanning code
• Virtual queues
• Financial planners
• Multilingual facility
Outcomes Activities
• Protean solutions
provided.
• Multifaceted.
• Low cost as no hiring of
the assistant required.
• Easily understood as
they are simple.
• Increases marketing
scope.
• Attracts more attention
• Future customer base is
attracted.
• ‘See more buy more’
philosophy is used.
• Security
• Boost traffic to website
• Reduced waiting time
• Risk management
• Increased Globalization
14

15. Summary and Conclusion
15
SR NO TOPICS COVERED
1. Challenges Faced By Branch Banking
2. Solutions Identified
3. SWOT analysis: Branch Banking v/s Digital Banking
4. Industrial Digital Transformation (Graphs)
5. Customer Insight (Research on preferred banking
methods)
6. Road Map: A Step By Step indication of digitalization can
be obtained
Conclusion:
• Analysis on problems faced by Branch Banking is done.
• A SWOT analysis is performed.
• Product Comparison is show.
• A Research which shows preference to Digital Banking is performed.
• A Road Map used to obtain the same is studied in detail.

16. Thank You
ING Vysya
Bank