Digital Strategy Sharpens Customer Focus

Arun Chaudhry explains how Motilal Oswal is using video as most preferred medium of communication with customers to create personalized solutions.

Mobile and app play key role:

The digital strategy of a company is captured by the benefit it brings to customers at large and also to employees. At Motilal Oswal Financial Services (MOSF), the entire strategy revolves around giving clients the best experience through state of the art products and platforms and ensuring right information at the right time to enable smarter decisions. There is another side to the strategy - enabling its advisory and sales teams with tools to ensure that right products are pitched to the customers based on their respective goals and risk profiles.

How effective is this strategy? Elaborates Arun Chaudhry, head, Online Business & Product Development, Broking & Distribution at the company: “Having had very humble beginnings, we have now grown in terms of mobile turnover by 70% over FY17-18. Digital initiatives are well received by clients and the fact that 52% of clients acquired in FY19 trade online is a testimony to our efforts. Our focus in making trading clients self-sufficient and mobile oriented has also paid off, and we have achieved 80% growth in terms of mobile turnover in the Options segment alone.”

PRODUCTS HAVE TECH DNA

The company has had a very successful year in terms of using technology for bringing out innovative solutions for clients and employees alike. It is now in a position to launch products at regular intervals which are completely automated and run on AI/algo. “The motive here is to achieve scale and provide individual advice to every client. Using technology, we are able to reach every nook and corner of the country; increasing client satisfaction in this process,” says Chaudhry.