The first generation to grow up with the internet is now well into their 30’s.
The first generation to grow up with smartphones just started university. Think about that for a second. These are individuals who never knew life without the world at their fingertips. They are the innovators of online shopping, Facebook, and the selfie. And their numbers are growing, rapidly.
The landscape of Loyalty in the banking industry is changing too. Partly due to the shifts in demographics, but more importantly in how and where they interact with the customer. While the 2016 demonetization initiative had far reaching implications, one of them was the nudge in consumer spending from cash to electronic payment methods. With the increased use of debit and credit, both in acceptance from merchants and consumer participation, the opportunity exists to build a loyalty program that identifies the individual’s preferences and engages them in new and exciting ways.
The Digital Revolution has arrived
In India and across the globe, access to digital products and services is growing at a dizzying pace. In fact, most forecasts predict that over 50 crores Indians will be joining the digital market in the next five years. That is more than the population of North America. All of it. As these new customers begin utilizing and transacting within this environment, the free flow of data and communication is allowing banks to interact more efficiently and more effectively.
Diese Geschichte stammt aus der August 2018-Ausgabe von Banking Frontiers.
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Diese Geschichte stammt aus der August 2018-Ausgabe von Banking Frontiers.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Kamdhenu & Sammrudhi loans top rural customers
Unnayan Bharat Finance Corporation (UBFC) Director & Co-Founder Avneesh Trivedi shares the company's attempts to enhance the rural lending environment & deliver better services to its consumers:
It's going to be a 'world' of CBDCs
Practically, every central bank in the world is testing and readying a CBDC system:
Training for behavioral & social skills is key
3 CHROs from the top BFSI companies in India open up about their training and motivation programs aimed at enhancing employee effectiveness. The story is divided into 4 parts: (i) functional and behavioral training, (ii) manager to leadership training, (iii) learning-based training, (iv) motivational programs:
THE AI COMPASS
Artificial Intelligence has risen to be the hottest topic of discussion today. It is expected to impact everyone, and the impact could exceed that of war, global warming, supply chain disruptions, geopolitics, and much more.
To mentor & coach emerging leaders
Manish Shah, MD & CEO of Godrej Capital, outlines his focus areas today and in the future:
Innovation will unlock India's Mission 'Atmanirbhar’
Sunita Handa is Chairman, Toyota FSIN and Principal Advisor & TLAB Chairman, Protectt.ai Labs. She shares her current activities and her deep insights on innovaiton in an interaction with Manoj Agrawal:
Algorithm is the Boss
Irem Sayeed, Chief Credit Officer at U GRO Capital, dwells into business focus and modernization at the lender:
Fintech and Neobank under the same Umbrella
It was started in 1902 to build what came to be called Israel:
Bajaj Allianz Revolutionizes Employee's HR and IT Experience with WhatsApp, MS Teams, Al and Automation
A productivity booster shot at BALIC:
Small Beginning for a Big Opportunity
AMU Leasing's focus on serving the underserved market of individuals and fleets looking for financing for electric 3-wheelers and 2-wheelers: