HDFC Securities has grown overall revenue by 40% using analytics

THE BENEFITS FROM analytics initiatives have been immense for HDFC Securities. Two years ago, the percentage of transactions on the digital mode were 60 per cent of the overall transactions using other channels. Currently, it has risen to 83 per cent. Additionally, the overall revenue has seen a spurt of 40 per cent, says Nandkishore Purohit, Head – Digital Strategy and Analytics to EC’s Abhishek Raval

- Abhishek Raval

What is the analytics roadmap that you have set for your organisation?

Our data analytics roadmap aligns with the overall corporate strategy and business objectives which can be broadly classified as - top line growth, cost reduction and risk and compliance management.

We are leveraging data analytics in our day to day functions such as acquisition, activation and continuous meaningful engagement with our clients. This will help us in keeping up with the changing consumption patterns of the customers as well as addressing the business dynamicity of the capital markets. For example, the product recommendation to a short term investor vis-a-vis a long term customer will be different. I will not be able to engage a short term customer with an SIP and likewise an options trading product will not fit a long term investor.

We run a lot of propensity models and identify the best investment mix for the customer on the basis of his investment philosophy and what we can offer. HDFC Securities is an Amazon of financial services. There are a number of investment options that we can identify for the customers and offer him the best fit.

What is the kind of infrastructure built for analytics? Data integrity is a primary requirement for analytics. What steps have you taken for having accurate data?