Digital Bank in a Traditional Bank May 23, 2017
India: Exponential Digital Growth Favourable Government focus Leapfrog to mobile demographic profile Addition of around 12 Government’s focus on million to the workforce 907 mn mobile subscribers, ‘Digital India’& move to every year for next five 210 mn Smartphone users cashless economy years 2
Government Focus on Digital India Broadband for All (Rural) Digital Payments • UPI National Information • NUUP infrastructure • Aadhaar Pay • Bharat QR Digital India Universal Access to Mobile Digital connectivity Awareness • Digishala – free TV channel eKranti – Digital delivery of services 3 Source: DeitY
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Towards a Digital Bank Digitization ● Improve process 01 efficiency Re-imagination 03 ● Create new Digital Digitisation only business models Transformation 02 ● Transform customer experience 5
Digitization Acquisition Digitization: Accounts and Loan origination digitization through tablets and smartphones Operations Digitization: Operations processes automated through Software robotics Sales Digitization: Sales process automated through Sales CRM Customer Service Digitization: Customer service automation through straight NLP and AI 6
Transformation Leadership in digital platforms Over 250 services across internet and mobile banking Highest rated mobile banking app1 Full service digital wallet app Leadership in digital payments Touch & pay: Mobile Based NFC payments leveraging HCE Bharat QR: Unified QR code standard supporting VISA, MasterCard, RuPay and American Express UPI: Mobile based interoperable, real time payments with direct debit from bank accounts Aadhaar Pay: Payment using biometric without cards EazyPay: Unique solution for merchants to accept payments on their mobile 1. India Mobile Banking Functionality Benchmark study conducted by Forrester 7
Re-imagination IT Era Digital Era Use of technology to increase Use of technology of reinvent efficiency business models Massive gains in productivity Reinvention of business models due through ERP systems, databases to sachetization (Low value/ high and personal computers volume transactions), demand aggregation, entry of new payments players and new technologies 8
Re-imagination: Digital Business Models • Scale up new mobile payment platforms focused on Payments low value but high frequency use cases • Build low ticket lending products fulfilled digitally on Digital Lending own and partner channels • Create small value recurring products fulfilled Savings & Investments digitally 9
Re-imagination: Digital Ecosystems • Tie-up pools of money in motion such as FMCG Ecosystem Banking chains • Partner with platforms to integrate with APIs and Platform SDKs Thinking • Build platform for others to integrate into • Establish few early use cases Blockchain 10
Re-imagination: New Operating Models Dynamic Culture Scalable Technology Cross functional teams Flexible modular architecture Organized around customer journeys Geared for high volume Lean Methodology Building Blocks Embedded Analytics Biometric e-KYC Using data and insights across products and processes Fraud/ Risk Management 11
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