Apoorva SDM Mysore

Hunt For the Lions Contest

The ING Way

CONTENTS

•Product offering and Services •Comparative SWOT•Survey Inference•Way Ahead•DB by DM

Product Offerings and Services

Products offered at

par with top private sector Banks

Top Class Service at affordable

Price

Access Points have simplified

transactions

Association with other companies

e.g. Snapdeal to

attract customers

Comparative SWOT

Branch Banking Digital Banking

Strength• Conventional way-staff well aware of the

procedures• Easier for technologically handicapped • Can achieve competitive advantage by employing

Workforce with distinctive skill set• Maintenance cost low unlike digital banking

• Facilitates e-Banking• Reduced Manpower – Low Cost• Better Customer service with advanced tech.• Unique products may be provided at premium• Helps target & attract new customers

Weakness• High manpower cost• Customization not possible• Lack of flexibility in operation• Difficulty in expansion of business

• High Staff turnover hampers competitive advantage• Slow paced R&D in online service affects competition• Lack of service leads to customer loss• Costs involved are usually high

Opportunity

• Provide personalized service• Steady growth in financial sector boosts the need

for branch banking (during occasions such as account opening, loan disbursement etc.)

• Exponential growth of online market• Helps expand business and diversify portfolio• Greater innovation helps come up with products and

services that meet customer’s needs

Threat• Increasing growth in digital banking has

hampered growth in branch banking• Head-on competition in banking sector requires

innovative banking methods

• A bad economy can hurt digital banking’s business by decreasing the number of potential customers

• Change in govt. regulation may affect Digital business• Politics may increase risk factors affecting digital

banking’s business negatively• Risk of hacking and data security

No39%Yes

61%

Use Digital Banking ?

Fear of Loss of money or faulty transaction

10%

Not well versed with it, hence i

dont want to take risk29%

Poor service and dif-ficult to use

27%

Security Issues19%

Threat of Virus15%

Simplicity of use

Security

Online capability

Branch capability and proximity of branch

Price

ATM coverage and proximity

0 1 2 3 4 5 6 7 8 9 10

Reasons

Sought For Factors

Cannot Say27%

Online16%

Branch57%

Introduced in Branch (37%)

Influenced by friend (26%)

Influenced by Social Media (35%)

Experimental (7%)

Buy Product

s From ?

WHY ???

Reason

Why Branch over Digital for Product Purchase ?

• Indian mind set of

• See

• Enquire

• Discuss

and purchase

• Technologically handicapped customers

• Difficulty in handling or operating through mobile or internet

• Security Issues imparts fear

Presence in Most used Social Networking Sites

Facebook

Twitter

LinkedIn

Google+

Comment on the Presence

Customer involvement through various

contests

Attractive Promotional Campaigns

No attractive Products or Apps (apart from

the basics)

Lack Differentiation and Rather Dull apeal

What others do that We Don’t !

• Extensive tie-up with MNCs for Salary Account

• Extensive Digital Marketing through social networking sites

• Door to door service for the aged / disabled

• Specialized schemes for the premium customers such as – Greater

interest on investment, Free transactions with higher upper limit etc.

• Sponsor events to improve their presence

• More number of branches and ATMs

Way Ahead !

• Simplify Mobile apps and online usage procedures• Provide brochures and educate customers on digital banking• Improve presence in social media - designing attractive customer

involvement programs• Provide exclusive products through Digital Access• Exclusive Mobile Apps to attract youngsters• Promote Digital Banking by incentivising the same• DB by DM (Digital Banking by Digital Marketing) • Address customer queries and issues efficiently • Create awareness, consider customer opinion and adapt the

product

Thank You