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continuous research and development is going on to design Also instant feedbacks are available in terms of new product
enhanced tools for customer profiling, digital marketing and launch and expectations of the customers can be easily
providing best in class experience for customer delight , this analyzed. Various analytics tools are available to process the
all creating a need of adept staff for customer service and data of customer from the big data sources and relevant
robust and efficient systems for it security. Needless to say information can be sorted out that ultimately helps in
that banking applications need to be user friendly to make campaign designing, attracting the customer, customizing
user experience delightful and serve their maximum needs and pitching the products as per the need and in turn
by this way of palm banking in a customized way. Internet enhancing the customer base. Apart from apprehending the
Banking tools need to give users a safe and fast environment new customer base it also help in retention of customer by
with strong encryption and decryption techniques over cross-selling and increasing engagement of customer as per
transmission so that concept of safe and secured banking their needs by customized products and services. Thus there
get materialized. is a need of continuous change in marketing tactics and
digital marketing strategies need to be formulated to cater
For example - To fulfill regulatory requirement and to present day requirement and accommodate the change.
enhance the quality of service and for effective customer
engagement and customer relationship management many Credit
banks have shifted toward upgraded version of Finacle, ex- Being a push based facility initially, with the emergence of
Finacle 10, which give tools for effectively capturing as well various NBFC's and credit corporations it has become quite
as extracting the customer data , i.e. of utmost relevance challenging for bank to update the traditional products and
in modern day banking. design customized credit products for all sorts of customer
as per their need. Again Need analysis and use of technology
So here the technological change i.e. up gradation has been to develop various credit product and placing them in right
done as a part of change management process, taking into way at right time for availability to right person is essential
account future needs, competitive study and paradigm shift and it might also require a push based strategy like digital
requirement of the bank to protect itself against becoming marketing as due to competition and almost all banks and
obsolete. It also required a transformation in approach of NBFC's offering similar products, service innovations and
employee as it required skill up gradation at their end in live customization would be required to get quality customers
environment, without adversely effecting business growth on board.
and customer service with bank's image at exposure. To
manage this change and keep the employee confident and Again data analytics is used for need and requirement
motivated training servers (dummy servers) were also used analysis, also it might help in product innovation and
to provide suitable exposure and hands-on experience over customization to cater customer need and also manage the
the changed environment i.e. new software. changes in nature of risk involved in credit exposure, by using
various analytical and risk management tools to understand
Marketing the nature and intensity of risk involved on case to case basis
Gone are the days where door to door marketing, Pamphlets and optimally utilize the tools available to mitigate it. Thus
or walk in had been source of marketing banks product. paradigm shift has occurred from traditional financing to
With the change in demographics of the country, where a Credit and Risk Management.
large chunk of population is under the category of youth the
concept of marketing has inclined towards digital marketing Operations
and social media marketing. The trend, inclination needs Needless to say this is the most important area where
to be analyzed to grab attention of such customer and for maximum people are daily intervening to get their job done.
that presence of banks on social media platforms had With the emergence of Cash Recyclers, ATM, Self service
become inevitable from where they can understand the Pass book kiosks, Cheque deposit machine, this all
needs, response, and behavior of customers and accordingly equipments being a part of digital self service lobbies for
customize the products. customers, it needs to be maintained on timely basis by

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