Manoj Agrawal: In today's era, where there is so much information available, do you see some kind of tendency among people to focus more on information analysis and lesser on execution? Is there some such trend?
Rishi Gupta: My view is that both these things are unrelated both go separately. If we look at analytics, 20 years ago there used to be much more of gut feeling. Now what has happened is that thanks to the advent of analytics, AI and a lot of secondary information (in social media and other channels), all that can be put together to have a very focused approach. So now to target somebody, you don't need to target the world. Even for TV, there is information about which customer categories or regions are watching each channel. We also have deep insights, such as that a lot of our customers use Oppo or Vivo phones. So now when we advertise on social media, we target people with Oppo and Vivo phones rather than target everybody. So our cost of targeted advertising comes down and we can see a higher result. So that is the power of information which has come.
Information helps us do better execution by focusing on targeted segments in various age groups in various geographies. When something works in one geography, we look for similar profiles in other geographies and get a better outcome. I believe that the power of analytics with good execution can give you wonderful results.
Between banks and fintechs, banks have enormous amount of customer data collected over several years, but that data lies in different silos. Hence a typical bank is unable to use that for better execution. On the other hand, at fintechs everything is sitting in one database. So that is the difference between good analytics capabilities and execution.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
It's a bank and a brokerage - FinecoBank
FinecoBank of Italy is a highly tech-enabled bank that is a combination of a bank and a brokerage:
A model for cloud adoption - Zurich Cantonal Bank
The bank is had opted for cloud to offer better service to its customers:
RBI Governor urges NBFCs to adhere to fair practices code
The Reserve Bank of India (RBI) Governor has urged Non-Banking Financial Companies (NBFCs) to strictly adhere to the Fair Practices Code, emphasizing sustainable growth and robust risk management in the sector.
Automated, Adaptive, Al-enabled Architecture is a must
Security heads from 2 BFSI companies reveal the key cyberfrauds and strategies to combat them:
Fraudsters too gain ground as real-time payment systems grow
There is a need for the technologies behind the real-time payment systems to gain a march over the methods of fraudsters:
Ethics & Challenges of AI in Cyber security: Navigating the Moral Maze
Even as AI is finding its place in the cyber security domain, an entirely new frontier of ethical challenges awaits.
Bangladesh Finance: 25% faster customer service; 15% higher customer retention
Bangladesh Finance, established in 1999, is a leading financial institution in Bangladesh.
Fino sparkles with technology & brand upshift
Fino Payments Bank started operations in June 2017, providing banking services to mass market customers, who are largely rural-based.
Savington Upshifts: 48% Faster, Churn down 31%
Savington International Insurance Brokers LLC, founded in 2006 by Dev Maitra, is a prominent insurance provider in the UAE.
Zoroastrian Bank: Multiple awards for being the Best
Established in 1927 by Sir Hormusjee Cowasjee Dinshaw Adenwalla, Zoroastrian Bank is a prominent urban cooperative bank headquartered in Mumbai, India.