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
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