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.
Denne historien er fra January 2023-utgaven av Banking Frontiers.
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Denne historien er fra January 2023-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.
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Swedbank leverages data to the hilt
Sweden's Swedbank takes innovation to a different level by collaborating with other competing banks:
Digitization is for customer satisfaction, says Argenta Bank
Belgium's Argenta Bank has designed its digitization efforts to enhance customer experience:
Speed, Safety, Compliance
Brijesh Samantaray, Co-founder, Propelld shares the current trends in the education loans how the company is leveraging technology:
Unique methods in fraud perpetration
When we look at some of the very serious frauds that had taken place in the financial realm, it is evident that the perpetrators are somewhat ingenious:
NBFCs: Elevating Organizational IQ
What is more important than hiring smart people is raising organizational IQ. This topic was discussed in depth in a panel discussion at NBFC's Tomorrow conclave organized by Banking Frontiers. Edited excerpts:
Trustful Transformation
Transformation is no longer only about growth & efficiency. It involves aspects like compliance, security and explainability that are impacting NBFCs. These issues are explored in this panel at NBFC's Tomorrow:
CEO Panel: Connecting Traditional Wisdom with Modern Intelligence
Banking Frontiers organized its annual NBFC Conclave titled NBFC's Tomorrow in August 2024 at Mumbai. Highlights of the first panel discussion:
NBFCs EXPERIENTIAL EVOLUTION, TRUSTWORTHY TRANSFORMATION
Banking Frontiers organized NBFC's Tomorrow, its annual NBFC Conclave, in Mumbai on August 21. The program comprised panel discussions on 5 upcoming opportunities for the NBFC sector, along with presentations, fireside chats and a keynote address. Edited excerpts from the conclave:
Smart ATMs - an indication of a resurgence
Smart ATMs can be the future way of how one may be interacting with a bank and doing transactions:
Personalization scores with HNWI & YP
Ghulam Haidar Rasooli, Chief Financial Officer at Afghanistan based Ghazanfar Bank, reveals the impact of personalization and future roadmap: