- The accelerated retail growth has been on a historically low base
- Penetration continues to be significantly low compared to global bench marks
- Housing will continue to be the biggest growth segment, followed by Auto loans
- need to expand and diversify by focusing on non urban segment, varied income and demographic groups.
Challenges
- Sustaining Customer loyalty
- Fraud prevention
- Avoiding Debt Trap for customers
- Bringing rural masses into mainstream banking
- Reaching to masses: Need to customize
- Customer segmentation/differentiation
- Data mining/ CRM based campaigns
- Products per customer/loyalty
- Promoting low risk retail lending products
- Offer an array of products and financial advisory
Winning Strategy
The bank that best addresses and anticipates customers needs, delivers consistently higher quality service and connects to the customer via their channel of choice wins
