The document discusses strategies for increasing adoption and engagement of customers on Kotak Bank's mobile app. It outlines approaches for onboarding new customers to the app and bringing existing customers onto the mobile channel. Some key strategies proposed include referral programs, targeted communications, improving app functionality, offering incentives for app usage, integrating loyalty programs, and leveraging analytics to personalize the customer experience. The goals are to drive higher mobile banking usage, increase customer stickiness, expand the bank's share of customers' wallets and minds over time, and reduce operating costs.
This document discusses digital banking versus branch banking and provides a roadmap for ING Vysya Bank to move towards more digital banking. It highlights the advantages of digital banking through a SWOT analysis and compares the products offered by ING Vysya Bank and Axis Bank. Additional features for ING's digital platform like wallets, chat, a virtual branch, and customized products are proposed. Research findings show a need for banks to improve digital services to increase profits and customer base.
BITZ BOOTCAMP DC: Smart Service - Winning the Customer ExperienceLocalogy
This document discusses the importance of providing smart, contextual customer service across multiple channels in order to meet evolving customer expectations. It outlines the key aspects of customer service that customers now demand, including being smart/contextual, real-time, accessible wherever the customer is, easy to use, and fast. It then discusses tools and strategies for providing an omnichannel customer experience, such as live chat, social media/messaging, self-service portals, video chat, mobile apps, and artificial intelligence/chatbots. The document emphasizes the value of integrating these channels and technologies to give agents a full view of customer data and provide a seamless experience across any service channel.
Module 1 introduction to cebb ppt slidesharemfopps
The document discusses how developing customers' financial capabilities through consumer education can help address challenges to adopting branchless banking and support building an active customer base. It explains that focusing on understanding the customer experience, identifying financial capability gaps, and designing education to build relevant knowledge, skills, attitudes and self-efficacy can help customers more successfully adopt and regularly use branchless banking services. The case study of a bank in the Philippines highlights how simply signing customers up did not translate to active use of mobile wallets, showing the importance of the missing step of financial capability development.
Banks are realizing that to provide superior customer service and survive, they must deliver a highly personalized customer experience. However, most banking consumers do not have a personal relationship with their local branch staff. Leading banks are aware that personalization needs to happen across all channels in order to build trust and loyalty. While digital banking is growing in popularity, many consumers still visit branches a minimum of nine times per year, providing opportunities for personalized service. Bank executives acknowledge needing improvement in personalization and meeting the needs of business customers. To better serve customers, banks must understand their perspectives, incorporate their feedback, and innovate continuously across all touchpoints.
The document discusses the development of an app called "App Ka Prerna" that aims to help users reach their short-term and long-term financial goals through personalized financial management and budgeting tools. The app would aggregate all of a user's financial accounts in one place, categorize transactions, track spending trends, monitor credit utilization, enable category-based budgeting with notifications for overspending, and provide recommendations for investments, loans, insurance policies, and ways to save money through price comparisons. The goal is to provide a holistic financial management platform to help users better plan, track, and achieve their financial objectives.
Transforming the Branch: What Banks Need to DoCognizant
To meet customers' expectations and remain profitable, banks must transform their branch locations into high-value, high-functioning operations that leverage the power of digital within the context of traditional branch environments.
A document outlines FinTech enabled solutions that can help launch products within 100 days. It describes 14 solutions including frontline sales acceleration using gamification, speech analytics to improve customer satisfaction and sales, a virtual customer assistant using AI, digital customer onboarding, KYC automation with AI, voice biometrics for fraud reduction, call center performance improvement, scaling data access/storage without high costs, employee engagement, customer onboarding solutions, regulatory reporting simplification, data governance for compliance, an e-KYC solution for financial crime compliance, and an expense management solution using APIs. Each solution includes the challenges it addresses, its key technologies, a case study example, and its impacts on clients.
Smartphones & Mobile Money: Principles for UI/UX Design (1.0)CGAP
CGAP holds that Smartphone interfaces are likely to become the main interface for mobile money use. A well-designed interface will drive growth, profitability, and a much improved user experience. This presentation outlines 21 principles for UI/UX design.
This document discusses digital banking versus branch banking and provides a roadmap for ING Vysya Bank to move towards more digital banking. It highlights the advantages of digital banking through a SWOT analysis and compares the products offered by ING Vysya Bank and Axis Bank. Additional features for ING's digital platform like wallets, chat, a virtual branch, and customized products are proposed. Research findings show a need for banks to improve digital services to increase profits and customer base.
BITZ BOOTCAMP DC: Smart Service - Winning the Customer ExperienceLocalogy
This document discusses the importance of providing smart, contextual customer service across multiple channels in order to meet evolving customer expectations. It outlines the key aspects of customer service that customers now demand, including being smart/contextual, real-time, accessible wherever the customer is, easy to use, and fast. It then discusses tools and strategies for providing an omnichannel customer experience, such as live chat, social media/messaging, self-service portals, video chat, mobile apps, and artificial intelligence/chatbots. The document emphasizes the value of integrating these channels and technologies to give agents a full view of customer data and provide a seamless experience across any service channel.
Module 1 introduction to cebb ppt slidesharemfopps
The document discusses how developing customers' financial capabilities through consumer education can help address challenges to adopting branchless banking and support building an active customer base. It explains that focusing on understanding the customer experience, identifying financial capability gaps, and designing education to build relevant knowledge, skills, attitudes and self-efficacy can help customers more successfully adopt and regularly use branchless banking services. The case study of a bank in the Philippines highlights how simply signing customers up did not translate to active use of mobile wallets, showing the importance of the missing step of financial capability development.
Banks are realizing that to provide superior customer service and survive, they must deliver a highly personalized customer experience. However, most banking consumers do not have a personal relationship with their local branch staff. Leading banks are aware that personalization needs to happen across all channels in order to build trust and loyalty. While digital banking is growing in popularity, many consumers still visit branches a minimum of nine times per year, providing opportunities for personalized service. Bank executives acknowledge needing improvement in personalization and meeting the needs of business customers. To better serve customers, banks must understand their perspectives, incorporate their feedback, and innovate continuously across all touchpoints.
The document discusses the development of an app called "App Ka Prerna" that aims to help users reach their short-term and long-term financial goals through personalized financial management and budgeting tools. The app would aggregate all of a user's financial accounts in one place, categorize transactions, track spending trends, monitor credit utilization, enable category-based budgeting with notifications for overspending, and provide recommendations for investments, loans, insurance policies, and ways to save money through price comparisons. The goal is to provide a holistic financial management platform to help users better plan, track, and achieve their financial objectives.
Transforming the Branch: What Banks Need to DoCognizant
To meet customers' expectations and remain profitable, banks must transform their branch locations into high-value, high-functioning operations that leverage the power of digital within the context of traditional branch environments.
A document outlines FinTech enabled solutions that can help launch products within 100 days. It describes 14 solutions including frontline sales acceleration using gamification, speech analytics to improve customer satisfaction and sales, a virtual customer assistant using AI, digital customer onboarding, KYC automation with AI, voice biometrics for fraud reduction, call center performance improvement, scaling data access/storage without high costs, employee engagement, customer onboarding solutions, regulatory reporting simplification, data governance for compliance, an e-KYC solution for financial crime compliance, and an expense management solution using APIs. Each solution includes the challenges it addresses, its key technologies, a case study example, and its impacts on clients.
Smartphones & Mobile Money: Principles for UI/UX Design (1.0)CGAP
CGAP holds that Smartphone interfaces are likely to become the main interface for mobile money use. A well-designed interface will drive growth, profitability, and a much improved user experience. This presentation outlines 21 principles for UI/UX design.
This document provides a project report presentation on Kotak Mahindra Bank by Divesh Chauhan. The presentation includes an introduction to Kotak Mahindra Bank, which was established in 1984 and offers various banking and financial services. It then discusses the bank's market capitalization, share price, revenue, and growth. Several slides analyze customer satisfaction, banking efficiency, objectives of the study, research design, data collection and analysis. The findings indicate that courteous staff, ATM availability, and efficient services are the most important quality factors for customers. The presentation concludes by discussing Kotak Mahindra Bank's performance and position as the 3rd largest private bank in India.
Next Generation Mobile Banking and Return on Investmentmistervandam
Fiserv white paper on how the advancement of mobile banking - particularly next generation features and functionality - are driving return on investment for financial institutions
An Introduction to Digital Credit: Resources to Plan a DeploymentCGAP
This is a workshop/course offering guidance in developing new digital credit products. This content is designed for a broad audience of banks, mobile operators, lenders, and fintech firms. It may also be of interest to regulators, policy makers and investors/donors.
With any comments or to request more materials (including the financial model [Excel] or original PPT presentation with detailed presenter notes), please write to cgap [@] worldbank.org.
This document proposes two initiatives for Wells Fargo Bank to implement online: 1) adding real-time customer support via instant messaging and 2) creating an exclusive online area for high-value customers. The proposals include use cases, a technology plan, discussion of change management models, and potential impacts and costs. If implemented, the initiatives could give Wells Fargo a competitive advantage and reduce operating costs through less phone support. However, they may face risks such as increased costs or competitors copying the ideas. Change management strategies like training and a phased implementation are recommended to help ensure acceptance and success of the initiatives.
Mobile payment systems final trends paperJuliaHurtley
This document discusses mobile payment systems and their importance. It provides examples of how mobile payment apps like Square work and the technologies that enable them like NFC, GPS, security encryption, and cloud storage. Two case studies are examined: the Blue Glass Cafe implemented the LevelUp app, seeing increased speeds and valuable customer analytics. Starbucks partnered with Square but customer reviews of the experience are mixed as it's not always faster than a credit card. The document advocates that mobile payments should make transactions easier for customers.
DigiPay.guru is boosting the digital revolution by helping startups and enterprises to digitize their business with its top-notch digital payment solutions.
Digipay.guru Empowering fintech innovators.pdf
- Mobile banking is growing rapidly and is now the preferred method of interacting with banks for many customers, especially those aged 30-60.
- Nearly half of smartphone users have not yet adopted mobile banking, representing an opportunity for banks to expand their customer base.
- Mobile banking improves banks' profitability by reducing operating costs through lower transaction fees and reducing customer attrition rates.
Aguai Solutions Perspective on New Age Digital Lending. Leverage the power of Digital Infrastructures to offer a Convenient of Lending to the right consumers through right Digital 30 degree of Credit Risk scores
The Future of Mobile Payments – Role of mobile wallets in consumer purchase j...Data N Charts
This report will look into why US consumers aren’t warming up to mobile payment services and how mobile wallets can integrate shopping and peer-to-peer transfers to make payments relevant with smartphone owners for wider adoption.
A No-Confusion Guide to Build a Secure Mobile Wallet App in 2019Innofied Solution
Mobile wallet apps have grown rapidly as more people have smartphones than bank accounts. This document provides tips for developing a secure mobile wallet app, including studying the market, choosing the right features, ensuring usability and security. Key technologies discussed are NFC, Bluetooth, QR codes, encryption and passwords. The summary emphasizes doing user research, focusing on security, and optimizing the app to be lightweight and easy to use.
A look at trends in mobile banking and whether a mobile app or mobile website makes more sense.
Lots of data from the Federal Reserve's March 2012 study.
Citizens National Bank of Cheboygan created a Virtual Branch to reach new customers and compete with larger banks. The Virtual Branch allows customers to access services online like applying for loans and accounts from anywhere. It has increased traffic with 500 average monthly visitors and more online applications. The Virtual Branch helps the bank achieve its goals of loan growth and expanding its service area.
Starbucks has successfully implemented a closed-loop mobile payment system using their mobile app. By 2016, 25% of transactions in U.S. Starbucks stores were made through the mobile app. The system allows customers to load funds from various sources like credit cards and PayPal into their Starbucks account. To make a purchase, customers scan a barcode from the Starbucks app at the register. This closed-loop system provides Starbucks with benefits like lower payment processing fees and valuable customer data insights. As mobile payment usage increased, other retailers like Dunkin Donuts and CVS also launched their own closed-loop mobile apps.
Impact of advertisements_on_online_banking_in_bangladeshSabakun Shetu
- The document discusses a questionnaire survey on the impact of advertisements on online banking in Bangladesh.
- The survey found that most respondents became aware of online banking through TV commercials and word of mouth communication. TV commercials were also the most preferred medium of communication.
- Respondents reported using online banking primarily for 24-hour account access, convenience, and time savings.
- Banks that actively promote their online services through media like TV commercials seem to be more acceptable and satisfying to customers.
Digital” is the new buzz word in the banking sector, with banks all around the globe hopping onto the digital bandwagon. Banks of all sizes are making sizeable investments in digital initiatives in order to maintain a competitive edge.
This presentation is about how can we go without cash.
No of digital banking products available in market and their uses.
Here i carried out all Digi products of Indian Bank as an example.
Thanks
Capital One New Credit Card Product Presentation - Product School PresentationJue Myers
This document presents a proposal for a new post-shopping credit card called Sunrise. It would offer benefits like free shipping and returns, cash back rewards, and easy donation or resale of unwanted items through partners like UPS and Thredup. The product aims to improve the online shopping experience from order to return. Metrics like credit card applications, transaction volume, and merchant partnerships would measure success. A minimum viable product would launch initially and incorporate customer feedback to add features over time.
customer perception towards internet banking final reportjay prakash tyagi
The document discusses customer perception towards internet banking. It first defines internet banking as conducting banking transactions electronically from any location via the internet. It then discusses how banks offer internet banking and the benefits it provides customers in terms of convenience and reduced time and costs. The objectives of the study are then outlined as understanding the factors influencing customer perception, designing a measure to evaluate perception, and suggesting implications for banks.
Peer-to-peer payments services are improving how people pay each other by providing digital alternatives to traditional methods like cash, checks, and bank transfers. The global P2P payments market exceeds $1 trillion annually and mobile P2P payments are growing, replacing conventional ways of transferring funds. Popular uses of P2P payments include splitting bills, paying rent or tuition, reimbursing others, and sending gifts. While banks face risks if they don't adopt these services, P2P payments also present opportunities to engage more customers digitally and support financial inclusion. Major industry developments in India include the growth of mobile wallets, emerging payment banks, and P2P services from leaders like State Bank of India.
More and more customers are seeing mobile as their banking channel of choice, proven by a growing body of papers. To cite some, Cimigo revealed that for every 10 respondents who are Vietnamese consumers, 3 are using some forms of e-payments including mobile banking application and e-Wallet. Or Backbase predicted that mobile transactions in Vietnam will increase by 300% between 2021 and 2025, driven by mobile payments. As banks build more creative features and integrate with third-party financial products, mobile banking application is no longer a tool for remote money transaction; it has become a financial lifestyle platform that offers a single hub for all banking services. In this article, we get to explore various innovative features that a bank might consider for its mobile banking application, with the goal to keep up with the Digital Banking upsurge.
Digital Banking for PSU banks in IndiaRohan Bharaj
This documents highlights the importance of Digital banking for PSU banks in India. In this digitally enhanced age, it is of utmost importance for PSU banks to be up to date with the latest technology.
This document provides a project report presentation on Kotak Mahindra Bank by Divesh Chauhan. The presentation includes an introduction to Kotak Mahindra Bank, which was established in 1984 and offers various banking and financial services. It then discusses the bank's market capitalization, share price, revenue, and growth. Several slides analyze customer satisfaction, banking efficiency, objectives of the study, research design, data collection and analysis. The findings indicate that courteous staff, ATM availability, and efficient services are the most important quality factors for customers. The presentation concludes by discussing Kotak Mahindra Bank's performance and position as the 3rd largest private bank in India.
Next Generation Mobile Banking and Return on Investmentmistervandam
Fiserv white paper on how the advancement of mobile banking - particularly next generation features and functionality - are driving return on investment for financial institutions
An Introduction to Digital Credit: Resources to Plan a DeploymentCGAP
This is a workshop/course offering guidance in developing new digital credit products. This content is designed for a broad audience of banks, mobile operators, lenders, and fintech firms. It may also be of interest to regulators, policy makers and investors/donors.
With any comments or to request more materials (including the financial model [Excel] or original PPT presentation with detailed presenter notes), please write to cgap [@] worldbank.org.
This document proposes two initiatives for Wells Fargo Bank to implement online: 1) adding real-time customer support via instant messaging and 2) creating an exclusive online area for high-value customers. The proposals include use cases, a technology plan, discussion of change management models, and potential impacts and costs. If implemented, the initiatives could give Wells Fargo a competitive advantage and reduce operating costs through less phone support. However, they may face risks such as increased costs or competitors copying the ideas. Change management strategies like training and a phased implementation are recommended to help ensure acceptance and success of the initiatives.
Mobile payment systems final trends paperJuliaHurtley
This document discusses mobile payment systems and their importance. It provides examples of how mobile payment apps like Square work and the technologies that enable them like NFC, GPS, security encryption, and cloud storage. Two case studies are examined: the Blue Glass Cafe implemented the LevelUp app, seeing increased speeds and valuable customer analytics. Starbucks partnered with Square but customer reviews of the experience are mixed as it's not always faster than a credit card. The document advocates that mobile payments should make transactions easier for customers.
DigiPay.guru is boosting the digital revolution by helping startups and enterprises to digitize their business with its top-notch digital payment solutions.
Digipay.guru Empowering fintech innovators.pdf
- Mobile banking is growing rapidly and is now the preferred method of interacting with banks for many customers, especially those aged 30-60.
- Nearly half of smartphone users have not yet adopted mobile banking, representing an opportunity for banks to expand their customer base.
- Mobile banking improves banks' profitability by reducing operating costs through lower transaction fees and reducing customer attrition rates.
Aguai Solutions Perspective on New Age Digital Lending. Leverage the power of Digital Infrastructures to offer a Convenient of Lending to the right consumers through right Digital 30 degree of Credit Risk scores
The Future of Mobile Payments – Role of mobile wallets in consumer purchase j...Data N Charts
This report will look into why US consumers aren’t warming up to mobile payment services and how mobile wallets can integrate shopping and peer-to-peer transfers to make payments relevant with smartphone owners for wider adoption.
A No-Confusion Guide to Build a Secure Mobile Wallet App in 2019Innofied Solution
Mobile wallet apps have grown rapidly as more people have smartphones than bank accounts. This document provides tips for developing a secure mobile wallet app, including studying the market, choosing the right features, ensuring usability and security. Key technologies discussed are NFC, Bluetooth, QR codes, encryption and passwords. The summary emphasizes doing user research, focusing on security, and optimizing the app to be lightweight and easy to use.
A look at trends in mobile banking and whether a mobile app or mobile website makes more sense.
Lots of data from the Federal Reserve's March 2012 study.
Citizens National Bank of Cheboygan created a Virtual Branch to reach new customers and compete with larger banks. The Virtual Branch allows customers to access services online like applying for loans and accounts from anywhere. It has increased traffic with 500 average monthly visitors and more online applications. The Virtual Branch helps the bank achieve its goals of loan growth and expanding its service area.
Starbucks has successfully implemented a closed-loop mobile payment system using their mobile app. By 2016, 25% of transactions in U.S. Starbucks stores were made through the mobile app. The system allows customers to load funds from various sources like credit cards and PayPal into their Starbucks account. To make a purchase, customers scan a barcode from the Starbucks app at the register. This closed-loop system provides Starbucks with benefits like lower payment processing fees and valuable customer data insights. As mobile payment usage increased, other retailers like Dunkin Donuts and CVS also launched their own closed-loop mobile apps.
Impact of advertisements_on_online_banking_in_bangladeshSabakun Shetu
- The document discusses a questionnaire survey on the impact of advertisements on online banking in Bangladesh.
- The survey found that most respondents became aware of online banking through TV commercials and word of mouth communication. TV commercials were also the most preferred medium of communication.
- Respondents reported using online banking primarily for 24-hour account access, convenience, and time savings.
- Banks that actively promote their online services through media like TV commercials seem to be more acceptable and satisfying to customers.
Digital” is the new buzz word in the banking sector, with banks all around the globe hopping onto the digital bandwagon. Banks of all sizes are making sizeable investments in digital initiatives in order to maintain a competitive edge.
This presentation is about how can we go without cash.
No of digital banking products available in market and their uses.
Here i carried out all Digi products of Indian Bank as an example.
Thanks
Capital One New Credit Card Product Presentation - Product School PresentationJue Myers
This document presents a proposal for a new post-shopping credit card called Sunrise. It would offer benefits like free shipping and returns, cash back rewards, and easy donation or resale of unwanted items through partners like UPS and Thredup. The product aims to improve the online shopping experience from order to return. Metrics like credit card applications, transaction volume, and merchant partnerships would measure success. A minimum viable product would launch initially and incorporate customer feedback to add features over time.
customer perception towards internet banking final reportjay prakash tyagi
The document discusses customer perception towards internet banking. It first defines internet banking as conducting banking transactions electronically from any location via the internet. It then discusses how banks offer internet banking and the benefits it provides customers in terms of convenience and reduced time and costs. The objectives of the study are then outlined as understanding the factors influencing customer perception, designing a measure to evaluate perception, and suggesting implications for banks.
Peer-to-peer payments services are improving how people pay each other by providing digital alternatives to traditional methods like cash, checks, and bank transfers. The global P2P payments market exceeds $1 trillion annually and mobile P2P payments are growing, replacing conventional ways of transferring funds. Popular uses of P2P payments include splitting bills, paying rent or tuition, reimbursing others, and sending gifts. While banks face risks if they don't adopt these services, P2P payments also present opportunities to engage more customers digitally and support financial inclusion. Major industry developments in India include the growth of mobile wallets, emerging payment banks, and P2P services from leaders like State Bank of India.
More and more customers are seeing mobile as their banking channel of choice, proven by a growing body of papers. To cite some, Cimigo revealed that for every 10 respondents who are Vietnamese consumers, 3 are using some forms of e-payments including mobile banking application and e-Wallet. Or Backbase predicted that mobile transactions in Vietnam will increase by 300% between 2021 and 2025, driven by mobile payments. As banks build more creative features and integrate with third-party financial products, mobile banking application is no longer a tool for remote money transaction; it has become a financial lifestyle platform that offers a single hub for all banking services. In this article, we get to explore various innovative features that a bank might consider for its mobile banking application, with the goal to keep up with the Digital Banking upsurge.
Digital Banking for PSU banks in IndiaRohan Bharaj
This documents highlights the importance of Digital banking for PSU banks in India. In this digitally enhanced age, it is of utmost importance for PSU banks to be up to date with the latest technology.
Enhancing Customer Experience through Loan Origination System (1).pdfHabile Technologies
Guaranteeing a spectacular customer experience, CloudBankIN allows lenders to i) Automatically disburse loans within 2 minutes, ii) Disburse low ticket loans without any human intervention, iii) Capture the right user data and manage heavy-duty documentation with ease.
Digital Banking vs. Branch Banking (Ashish Kumar)2K13A19
This document discusses the transition from branch banking to digital banking. It notes that banks are increasingly adopting digital business models to capture more market share. Digital banking is seen as cheaper, faster and more convenient than branch banking. However, branch banking provides benefits like security and personalized service. The document outlines strategies for ING VYSYA bank to expand its digital offerings, such as providing online advisory services, payments, and account management. It also discusses challenges like maintaining simplicity and security with digital financial services.
Explore the landscape of Mobile Banking App Cost, Our detailed guide delves into the factors influencing pricing, latest trends, and essential features.
The document discusses opportunities for banks to implement "right channeling" strategies through mobile banking. It finds that (1) adding new mobile banking capabilities provides more choices for customers and opportunities to guide them to the optimal channel, (2) small business owners use mobile banking more frequently than retail customers which has implications for engagement, and (3) alerts have potential for real-time interaction and educating customers about channel choices. The document recommends banks understand customer mobile usage data to identify short and long term channeling opportunities.
This document discusses strategies for online banking customer satisfaction and retention at City Bank. It defines e-banking as transactions done through the internet, online or mobile. It discusses providing effective online services like bill payment, funds transfer, investing and shopping. It emphasizes retaining current customers through satisfying their needs with convenient online features. High satisfaction leads to increased loyalty, purchases and recommendations. Credit unions outperform banks in customer satisfaction and adoption of online services.
Suresh - Mobile Banking (Corporate Banking Stream) Knowledge Group
The document discusses trends in corporate mobile banking adoption globally. It notes that the number of smart connected devices will reach over 2 billion by the end of 2015. Many large global banks have implemented mobile apps for corporate and SME clients to enable payments, cash management, and financial reporting on tablets and smartphones. Surveys find that over 65% of corporate treasurers are interested in mobile banking services.
Banking Services Marketing Automation and Omni-channel BankingShepHertz
Accelerate Digitization in banking by providing omni-channel customer experience using Predictive Analytics, Marketing Automation, Api Management with ShepHertz.
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.
This document discusses mobile banking solutions from Warply. It provides an overview of Warply's engage platform, which offers CRM, analytics, audience targeting, campaign management, and beacon capabilities. It also discusses Warply's HCE wallet and tokenization services for contactless payments, as well as its banking products like loyalty and benefits applications and chatbot banking.
This document discusses mobile banking solutions from Warply. It provides an overview of Warply's engage platform, which offers CRM, analytics, audience targeting, campaign management, and beacon capabilities. It also describes Warply's HCE wallet and tokenization services that enable mobile payments without secure elements, as well as a bank-wide loyalty and benefits application.
This document provides a summary of the latest innovations in mobile banking from around the world. It analyzes 67 banks across 14 countries and identifies trends in core banking functionality, transactions, understanding finances, personalization, account servicing, and the future of mobile banking. The report finds that while basic mobile banking services are common, innovations in areas like pre-login information, payments to new payees, goals-based spending analysis, and integrated account servicing are still developing. It also suggests mobile banking will continue evolving through improved user experiences, alternative security solutions, and integration with other channels.
Digital transformation is moving more financial and lifestyle experiences to mobile applications as the rise of digital payments and mobile apps presents risks for banks to become disconnected from customers. Banks can increase loyalty and expand revenue by adopting a "mobile first" strategy. This involves building dedicated mobile app teams, establishing APIs, and opening to third parties to provide services within banks' apps and embed bank services into other apps. A mobile first approach helps banks remain engaged with customers in the new normal.
This document discusses the need for banks to adopt digital technologies to provide enhanced customer experiences. While online and mobile banking are important, banks must seamlessly integrate digital channels with existing in-person services. This will allow customers who prefer face-to-face interactions to transition to new features without losing the personal touch. Digital banking can supplement but not replace physical branches. The document then examines strengths, weaknesses, opportunities and threats of digital and branch banking through a SWOT analysis.
In this presentation, we look at this issue, the steps the banking community need to get right to engage with modern consumers and how to develop powerful mobile—based propositions that people actually want to use.
Account Aggregators are here to transform the digital lending sector as they bring absolute control for borrowers along with great convenience for lenders making it a win-win for both.
Similar to Kotak Mahindra bank mobile banking strategy (20)
Ready to Unlock the Power of Blockchain!Toptal Tech
Imagine a world where data flows freely, yet remains secure. A world where trust is built into the fabric of every transaction. This is the promise of blockchain, a revolutionary technology poised to reshape our digital landscape.
Toptal Tech is at the forefront of this innovation, connecting you with the brightest minds in blockchain development. Together, we can unlock the potential of this transformative technology, building a future of transparency, security, and endless possibilities.
Meet up Milano 14 _ Axpo Italia_ Migration from Mule3 (On-prem) to.pdfFlorence Consulting
Quattordicesimo Meetup di Milano, tenutosi a Milano il 23 Maggio 2024 dalle ore 17:00 alle ore 18:30 in presenza e da remoto.
Abbiamo parlato di come Axpo Italia S.p.A. ha ridotto il technical debt migrando le proprie APIs da Mule 3.9 a Mule 4.4 passando anche da on-premises a CloudHub 1.0.
Instagram has become one of the most popular social media platforms, allowing people to share photos, videos, and stories with their followers. Sometimes, though, you might want to view someone's story without them knowing.
Discover the benefits of outsourcing SEO to Indiadavidjhones387
"Discover the benefits of outsourcing SEO to India! From cost-effective services and expert professionals to round-the-clock work advantages, learn how your business can achieve digital success with Indian SEO solutions.
Understanding User Behavior with Google Analytics.pdfSEO Article Boost
Unlocking the full potential of Google Analytics is crucial for understanding and optimizing your website’s performance. This guide dives deep into the essential aspects of Google Analytics, from analyzing traffic sources to understanding user demographics and tracking user engagement.
Traffic Sources Analysis:
Discover where your website traffic originates. By examining the Acquisition section, you can identify whether visitors come from organic search, paid campaigns, direct visits, social media, or referral links. This knowledge helps in refining marketing strategies and optimizing resource allocation.
User Demographics Insights:
Gain a comprehensive view of your audience by exploring demographic data in the Audience section. Understand age, gender, and interests to tailor your marketing strategies effectively. Leverage this information to create personalized content and improve user engagement and conversion rates.
Tracking User Engagement:
Learn how to measure user interaction with your site through key metrics like bounce rate, average session duration, and pages per session. Enhance user experience by analyzing engagement metrics and implementing strategies to keep visitors engaged.
Conversion Rate Optimization:
Understand the importance of conversion rates and how to track them using Google Analytics. Set up Goals, analyze conversion funnels, segment your audience, and employ A/B testing to optimize your website for higher conversions. Utilize ecommerce tracking and multi-channel funnels for a detailed view of your sales performance and marketing channel contributions.
Custom Reports and Dashboards:
Create custom reports and dashboards to visualize and interpret data relevant to your business goals. Use advanced filters, segments, and visualization options to gain deeper insights. Incorporate custom dimensions and metrics for tailored data analysis. Integrate external data sources to enrich your analytics and make well-informed decisions.
This guide is designed to help you harness the power of Google Analytics for making data-driven decisions that enhance website performance and achieve your digital marketing objectives. Whether you are looking to improve SEO, refine your social media strategy, or boost conversion rates, understanding and utilizing Google Analytics is essential for your success.
3. Stickiness
12/6/2020 Rachita Rattan 3
WHY DRIVE MOBILE BANKING ?
Replacing visits
to Branch
Instant
Gratification
Increase share of
Mind and Wallet
Increase in
Relationship Value
24*7
Accessible
Customer
Satisfaction/
Delight
Revenue
Generation
Acquisition of
New Customers
Min.
Costs in
Long run
High ROI
4. 12/6/2020 Rachita Rattan 4
Approach
On-boarding
NTB &
Bringing
existing
customers
on Mobile
Increasing
Utility of app
and
Efficiency in
usage
Making the
app actively
engage with
users
Rewarding
Usage
Eliminating
the need of
Branches in
the Long Run
Mobile First
Strategy:
•End-to-end
Sales, Tracking,
Entry to App on
Mobile app
Enabling and Analyzing end to end customer Journey on Mobile App
Informing
•Incentivising
•Eliminating
barriers to entry
for existing
customers
•Part-taking in
consumer
journeys
•Empowering
users to do more
Maximizing the
content/features
available Pre-
Login
App should
•Remind
•Inform
•Advise
•Cross Sell
Leverage
Analytics to
infuse
intelligence in
app
•Reward Loyalty
•Customized
rewards
Rewarding will
lead to
continuous
engagement
•Move maximum
possible branch
activities to App
Aim on the go
access to bank
for all purposes
Monitor and remedy drop-outs, customer satisfaction levels, RVs, ROI at each stage
5. 12/6/2020 Rachita Rattan 5
MOBILE FIRST ACQUISITION AND ENGAGEMENT STRATEGY
Lead
Generation
Online
Application
+
E-KYC
+
I.P. through
P.G.
Track
Accounts Other Products
I.P. Funds
credited to a
virtual card
Receive
Debit Card,
Cheque
book, Net
Banking
•AdWords
Mobile and In-
Mobile
Targeted Ads
for capturing
potential
customers
•Promote Paper
Free account
opening
exclusively by
downloading
Mobile App
•Apply Now
option in Mobile
App. (Platform
for all ‘Apply
Now’ products)
•Enable OTP
based E-KYC
(Full KYC) and
funding through
a Debit Card/Net
banking
•Unique
Application
number
generated at
application
completion
•Track the
application
progress on
mobile app using
the unique
number
•Whenever the
account gets
opened,
generate a
Virtual Prepaid
Card
accessible
through app
•It will enable
Customer to use
the funds
instantly
•Other Mobile
app features get
unlocked by
MPIN
6. 12/6/2020 Rachita Rattan 6
INCREASING ADOPTION IN EXISTING USER BASE
Existing Base Non Users Cold Users Regular Users
Referral Campaign
Peer influence and word of
mouth are some of the
biggest influencers in
banking app adoption
Remind,Incentivise
Downloads
Some users may be active
on Net and Phone banking
channels but not on app.
Target them using SMS,
Emails & Net banking
And get a
movie ticket
free
Ref Code:Shaina@350
Identify, Segment,
Guide
Transfer
funds through
Mobile next
time and get
a Starbucks
voucher
Identify: tasks possible on App
being done on other channels
repeatedly
Segment: Group customers
basis their behaviour
Inform: Convey, in a
targeted fashion,
the benefits of using the App
Guide: Train/Enable the
contact points to guide and
assist the customer effectively
to use the mobile app
CCC
E.g.. PIN
Change/regeneration
E.g.. Check past
transactions
BRANCH
Inertia to Adoption Lack of Awareness
7. 12/6/2020 Rachita Rattan 7
INCREASING ADOPTION IN EXISTING USER BASE
Existing Base Non Users Cold Users Regular Users
Independent
Mobile App Login
2 Factor Authentication:
Mobile No. + Debit Card No.
Mobile No. + Account No.
Mobile No. + Email ID
SMS Banking
Identify segments /cities
where app adoption is
hampered by network
issues/absence of smart
phone; Push SMS banking
Effective
Communication
Segment :
•Regular to heavy Users of
banking services not active on
any digital channel
•Users of higher age groups
Device Effective
Communication strategy to
decrease perceived risk
•Enable login through
Biometrics to restrict login
Barriers to Adoption Lack of Trust
Segmentation
Effective
Communication
Perceived
Utility
Perceived
Risk
Primary Research and analyzing stages and reasons of drop-out may give better insights to device appropriate strategies
8. 12/6/2020 Rachita Rattan 8
ENGAGING EXISTING USER BASE BETTER
Existing Base Non Users Cold Users Regular Users
CCC in Mobile App
Customer Chat Centre
Giving an in-app option to
chat with customer care
centre can increase the use
of app and customer
satisfaction manifold
GEN Y prefers to chat
•Users may not like to wade through
IVR options to talk to a customer
care executive
•In-App option to chat with customer
care executive will not only
circumvent the cumbersome IVR but
provide solutions on the go
M-Commerce and
Targeted Offers
Aim : Take part in
consumer journeys and
make them as smooth as
possible
•Mobile Recharge: Ability to
browse plans and set auto-
recharge for every month
•Bill Pay: Ability to register
by just clicking a pic of the
bill
•Onboard merchants which
are frequently used by a
majority: Movie tickets, Cab
/bus Booking.
•Tie up with a mega online
store like Flipkart/Snapdeal
One Click Payment
9. 12/6/2020 Rachita Rattan 9
LEVERAGING EXISTING CUSTOMER USERS
Existing Base
Personal Finance
Management
Intuitive
Visualization
•Tool to fetch
Assets/Income and
Liabilities/Expenses data
•Category wise assets
and Liability overview of
the customer relationship
•Pre-set standard
category wise
spend/saving thresholds
basis past data
Non Users Cold Users Regular Users
Incentivise Desired
Behaviour
Advice/Cross-Sell
•Basis the spend
patterns/ balance sheet of
the customer, assign
Badges. E.g. User with
high average credit card
spends/total spends on
‘E-Commerce’:
INTERNET CHILD
•Prompt him/her to use M-
commerce in app in
exchange of an e-com
voucher/cashback
•Leverage data to cross-
sell products
Eg. High balance in
savings account
Recommend
RD/FD/Mutual
Funds/Insurance basis
customer segment and
behaviour
•Allow users to receive
customized feed on
topics of choice
Gamification
These 2 can be undertaken
without PFM or Gamification
by leveraging data to increase
engagement
10. 12/6/2020 Rachita Rattan 10
LEVERAGING EXISTING CUSTOMER USERS
Existing Base
Infusing
Intelligence
Pro-Activeness
Mobile App should:
•Remind: Due dates of
Credit Card, Bill Payment,
Expiry of Offers etc.
•Advise/Recommend:
Offers basis spends,
Cross-sell products
basis user behaviour,
Tax saving investments
etc.
Non Users Cold Users Regular Users
PG Page Detection Geo-Fencing
When on a PG page,
customer has to:
•Search for the card
•Manually enter card
details
App should detect a PG
page and populate card
details on a smart
banner
Geo-Fencing can be used
to prompt highly relevant
offers to the users
Eg. Kotak Offer: Get a
donut free with any
coffee.
If one enters CCD outlet,
app should notify this
offer as a push
notification
11. 12/6/2020 Rachita Rattan 11
LEVERAGING EXISTING CUSTOMER USERS
Existing Base
Pro-Activeness
Non Users Cold Users Regular Users
PG Page Detection Geo-Fencing
Credit card bill payment of Rs. 25,600
due by 3rd May. Tap here to pay
Debit Card No: 4393 9345 6671 4211
Expiry Date: 10/17 CVV: 448
Get a free Donut with any Coffee in
CCD on using a Kotak Card
12. 12/6/2020 Rachita Rattan 12
LEVERAGING EXISTING CUSTOMER USERS
Existing Base Non Users Cold Users Regular Users
Cheque Deposit/Stop
Cheque
Many small business owners
use branches primarily for
cheque management.
Allowing users to perform
remote cheque deposit will
bring efficiency in system
Navigate to
ATM/Branch Loyalty Program
Camera
differentiates Mobile
from Web
ATM/Branch
addresses per se
add little value
Navigation to the
branch/ATM become utmost
important in tier-II and tier-
III cities where physical
network may not be as
extensive
Incentivise spends
through Net and
Mobile banking
Integrated Loyalty program
for Net and Mobile banking
for M-commerce and other
merchant transactions
13. 12/6/2020 Rachita Rattan 13
APPROACH
Goals
Means to the
Goals
How does increasing adoption rates, user engagement and adopting Mobile First strategy help?
Are these goals or means to the goals ?
Adoption
Benefits to Bank
Less pressure on
branch/manned
channels
Cost efficient
scalable channel
Benefits to
Customer
Lesser branch
visits/phone
banking use
Minimum barriers
to use for
managing txns.
Instant access
Ease of applying
to new products
Benefits to Bank
Increase in share
of mind
Stickiness of use
Increase in share
of wallet
Opportunity to
cross sell
Increase in RV
Benefits to
Customer
Lesser branch
visits/phone
banking use
Minimum barriers
to use. Instant
access
Engagement
14. Adoption: Why,
• PIN not received
• PIN received, not installed
• Installed not used
• Once or twice used
• What % use app
• Rural, urban
• Rural urban divide: bridge divide, free internet
• Urban: Net banking but not mobile app can be easily on-boarded
• If no. Is different from registered mobile no. Then you cannot install app-LHF
• Within app how many call customer care
• How many calls can be solved through app: can be asked to download the app. Can their pin be generated instantly
• PIN generation eg.
• Navigation to branch. Integrate with mobile app
• SMS of tracking
• See younger people data. Promote app to them- LHF
• Biometrics login: no need of pin etc.
• Breaking apps
15. • Social Media: fb page- how many users visit fb page, option to download app
• Twitter
• Movie ticket voucher on registering and making a transfer through
• SMS with voucher/gift
• Email: see behaviour of users not using mobile app, targeted emailer- focused on most used service-
• Bank agnostic app
• Usage: best price m-commerce. If you find cheapest we;ll refund
• No. Of services: see what processes are branch users
• No of services v/s promotion
• Offers se m-com
• In-app chat
• Path + Validation in app + call
• Credit Card etc. discount by using through app
• Managing personal finances ??
• Make the app indispensible. Suggest when to pay bills, gold, expiry of offers, tax reminders
• Search option in app
• Category wise spends: data to customer,
16. Mobile First
• ICICI
• Apply now
• Track
• Funds
• In virtual card
• RM to
Give pin and account no.
12/6/2020 Rachita Rattan 16
17. 12/6/2020 Rachita Rattan 17
In the long run, aim should be to eliminate branch visits to the
maximum possible extent
18. Benefits to Bank
• Customer Delight
• Efficiency
• Cost saving
• Cross sell
• Share of wallet
• Stickiness
• Cost saving
• increasing customer base
• Profitability
• Revenue generation
• Engagement/Share of Mind
• Customer acquisition
• Customer retention: Increasing psychological barriers to exit
• Higher ROI
• Instant Gratification
12/6/2020 18Rachita Rattan
19. • To unlock feature, open an account instantly
• Peer use is an influencer
• Incentivise word of mouth/referrals
• Mini app pre-installedin various mobile phones
• On net banking but not on mobile app
• Specificallytier-2, apps get imp as branches are not abundant
• Requests on call centre which can be done through mobile app
• When internet is not available. Error message- SMS banking details should be present
• Insurance premium (what can be done in net banking)
• Stop cheque/deposit cheque
• Stop change delete ECS
• I would like my mobile app to recommend a card/accountthat will offer me better rewards while paying for a specific purchase
• Badges like: Saver, Trader- accordinglysuggest products. Eg EMI suggestions,
• Search option
• Mobile Commerce
• Eliminate barriers to adoption
• Targeted approach: people who visit branch to do tasks can be instructed to download app
• SMS if net slow
• How to build trust in mobile banking: Biometrics
• PFM: Accordinglysuggest products
12/6/2020 19Rachita Rattan