3D Economy Data, Digital & Disruption
Banking Frontiers|October 2020
Banking Frontiers, in association with Snowflake, organized a web panel discussion by experts on the transformative role of data.
Ravi Lalwani
3D Economy Data, Digital & Disruption

Bertram D’Souza, SVP & Head - Digital Payments, Open Banking & Fintech Partnerships, Kotak Mahindra Bank

When it comes to data, banks have an inherent competitive advantage in terms of volume, quality and quantity of data whether it is demographic or transactional. The key to building successful digital products in this space is to collect deep insights from users and then create a good data collection architecture. It is also important to understand how this data can translate into a framework to deliver key business outcomes. BFSI entities have goals like how to use digital to identify the right customers for an acquisition perspective and how to engage with existing customers. A lot of engagement would come from a deep understanding of what makes a customer pick a product. Also need to understand enough about what the customer aspires for in the next level of products and services.

I think, that’s where digital plays a key role in delivering that native user experience to capture a user’s attention and cross-sell and upsell effectively.

A few years ago, Kotak Mahindra Bank started its data centralization journey. We recognized the fact that centralizing a lot of disparate data sources was crucial for future use-cases. Implementing use cases does take its own time as building intelligence on top of data is not an easy task. Historical information and certain recommendations in the digital layer can prompt/nudge a customer. All these models are tried and tested across the industry and some large players in the ecommerce ecosystem too have adopted it. We have first-hand learnings from this area.

Denne historien er fra October 2020-utgaven av Banking Frontiers.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

Denne historien er fra October 2020-utgaven av Banking Frontiers.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

FLERE HISTORIER FRA BANKING FRONTIERSSe alt
It's a bank and a brokerage - FinecoBank
Banking Frontiers

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:

time-read
3 mins  |
November 2024
A model for cloud adoption - Zurich Cantonal Bank
Banking Frontiers

A model for cloud adoption - Zurich Cantonal Bank

The bank is had opted for cloud to offer better service to its customers:

time-read
3 mins  |
November 2024
RBI Governor urges NBFCs to adhere to fair practices code
Banking Frontiers

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.

time-read
1 min  |
November 2024
Automated, Adaptive, Al-enabled Architecture is a must
Banking Frontiers

Automated, Adaptive, Al-enabled Architecture is a must

Security heads from 2 BFSI companies reveal the key cyberfrauds and strategies to combat them:

time-read
4 mins  |
November 2024
Fraudsters too gain ground as real-time payment systems grow
Banking Frontiers

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:

time-read
5 mins  |
November 2024
Ethics & Challenges of AI in Cyber security: Navigating the Moral Maze
Banking Frontiers

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.

time-read
3 mins  |
November 2024
Bangladesh Finance: 25% faster customer service; 15% higher customer retention
Banking Frontiers

Bangladesh Finance: 25% faster customer service; 15% higher customer retention

Bangladesh Finance, established in 1999, is a leading financial institution in Bangladesh.

time-read
5 mins  |
November 2024
Fino sparkles with technology & brand upshift
Banking Frontiers

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.

time-read
4 mins  |
November 2024
Savington Upshifts: 48% Faster, Churn down 31%
Banking Frontiers

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.

time-read
4 mins  |
November 2024
Zoroastrian Bank: Multiple awards for being the Best
Banking Frontiers

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.

time-read
7 mins  |
November 2024