Upselling to the existing customer base is a key pillar of the overall marketing strategy followed by lenders to increase Customer Lifetime Value and keep customer acquisition costs down. The spin-off effect on retention is an added benefit. However, traditional segmentation techniques based on demographics like income and location are barely sufficient to identify the […]
Step Up and Be Counted in the Fight against CoronaVirus: Simple Ways to Stay Safe and Keep Others Safe from COVID-19
As of writing this piece, there have been 75[1] cases of COVID-19 reported in India. The public health machinery has swung into action. While prevention is definitely better than cure, it is equally important not to fall prey to rumours and misinformation. This can often be more dangerous than the pandemic itself. As The Zucker […]
API Banking: What it is? How it works?
The customer’s experience is truly imperative to the success of all banking institutions. The banking customers want an easy-to-use experience that offers the latest digital services. Given the intense competition in the financial markets and the changing needs of the consumers, banks all over the world, make it a point to leverage the latest technologies. […]
The Future of Financing Trends with NBFCs
NBFCs are key players when it comes to the objective of financial inclusion that India aims to achieve. It caters to unbanked and underbanked sections of Indian society. Additionally, they provide the credit demand of MSMEs too. Through direct and indirect involvement, they transform sectors like transportation, employment generation, wealth creation, bank credit in rural […]
A Brief Trajectory of Fintech Revolution in India
Fintech is relatively a new term on the market. Gradually, it is shaping up into a massive industry that comprises both startups and prestigious financial institutions that strive to enhance the level of financial services. Credit cards were first launched in the 1950s, and it took ATMs a decade to change the way money was […]
How Should Banks Deal with Non Performing Assets (NPAs)?
Non-performing Assets (NPAs) are also known as defaults or bad loans. They result from lousy lending practices like lack of a thorough background check of borrowers for the repaying capacity, financial health, and intent to repay, etc. Sometimes, increased competition coerces banks to disburse unsecured loans. Apart from falling ROIs, NPAs can tarnish the reputation […]