PRACTICAL USE CASES OF PERFECTION

The financial sector periodically undergoes some transformation or the other, such as - nationalization, privatization, computerization, digitization and personalization. While all these are well publicized, there is one more transformation that is less visible - and that is perfection.

- smriti@glocalinfomart.​com manoj@bankingfrontiers.​com

BFSI companies can tolerate far less errors, whichever be the function - sales, marketing, collections, risk, compliance, audit, HR, legal, and all others. Perfection in the financial is rarely talked about in media or in conferences. Banking Frontiers is taking up this critical topic, and our findings are astonishing, to say the least. The progress has been massive and multi-dimensional, and deserves wide understanding and appreciation.

We cannot thank enough the 9 people who have shared their valuable insights for this cover story. We had 2 banks, 1 insurance company, 1 AMC, 2 HFCs, 2 NBFCs and 1 MFI. In terms of designations, we had 2 people from marketing, 2 from compliance, 2 from HR, 1 from cybersecurity, 1 from internal audit and 1 from business.

Part 1

Perfection - Its Everywhere and Growing

Check out the evolution of perfection in different functions in BFSI organizations, the forces driving the changes, and the outcomes achieved. Participants also share some details about the size and skills in the associated team.

In the marketing/corpcomm domain, 2 vectors are nudging the shift towards perfection. The first vector, as pointed out by Noel Mascarenhas, is the shift in emphasis from creativity to tech driven targeting and advertising. “With the rise in competition and need to understand the end audience, it is important for us to land every campaign perfectly,” he explains.

Nikhil Bharadwaj explains the second vector: “Perfection has now become essential, particularly in the context of crisis management. The growing influence of social media and the widespread nature of misinformation have significantly