In­vest­ments: On­line busi­ness grow­ing 2.9x

Banking Frontiers - - Investment Business -

Srini­vas Jain, ED & CMO (Strat­egy and In­ter­na­tional Busi­ness) at SBI Mu­tual Fund, and Nand­k­ishore Puro­hit, Head of On­line Busi­ness & Dig­i­tal Strat­egy at HDFC Se­cu­ri­ties, dis­cuss the var­i­ous as­pects of the dig­i­tal jour­ney:

which is why we are con­tin­u­ously scal­ing up to work as a tech­nol­ogy and in­no­va­tion com­pany that de­liv­ers in­vest­ment so­lu­tions to cus­tomers. We are ex­plor­ing var­i­ous av­enues to leverage tech­nol­ogy to stay rel­e­vant in the mar­ket. We are fo­cus­ing on the API econ­omy to of­fer in­no­va­tive dig­i­tal of­fer­ings to cus­tomers with a faster time to mar­ket. While the com­mon be­lief is - dig­i­tal is all about adapt­ing to the change - we feel it is about adapt­ing the change ‘quickly’. If we fail to do so, we won’t be rel­e­vant to our cus­tomers - and with a buf­fet of of­fer­ings avail­able in the mar­ket for the cus­tomers, we need to be at the top of our game all the time.

How much busi­ness have you gar­nered on­line and off-line in 2017-18?

Srini­vas Jain: In the last one year, we have sig­nif­i­cantly in­creased our share of on­line busi­ness. On an av­er­age, the share of on­line busi­ness has seen a 2.9x growth. A lot of this has been achieved post de­ploy­ment of an­a­lyt­ics and au­to­ma­tion. We be­lieve that in this era a grad­ual shift is hap­pen­ing to­wards iden­ti­fy­ing mi­cro seg­ments. More­over, in many cases we have seen seg­ments of “One” emerg­ing strongly. Our an­a­lyt­ics team works con­stantly to iden­tify and pre­dict growth ar­eas and suit­ably mar­ket our of­fer­ings. This has led to consistent in­crease in busi­ness. The to­tal ex­penses in­curred on dig­i­tal ini­tia­tives in the last one year are around Rs28 crores.

Nand­k­ishore Puro­hit: As much as 72% of our cus­tomers trans­act through our on­line chan­nels gen­er­at­ing around 50% of busi­ness, re­main­ing is through as­sisted and off­line chan­nels. When the cus­tomer is trans­act­ing on­line - an­a­lyt­ics be­come the key en­abler. It helps us track and un­der­stand cus­tomer be­hav­ior, user jour­neys, how he acts when the mar­ket is on a bull run, how he re­acts when the mar­ket is bear­ish - ba­sis which we cre­ate users’

Srini­vas Jain claims tech­no­log­i­cal de­vel­op­ment can lead to a par­a­digm shift in how in­vest­ments are made

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