India's banking sector has undergone a paradigm shift in the past two decades by evolving from physical banking to becoming digital anchors. Consumers don't have to go to a brick and mortar bank anymore to make simple transactions anymore. With just a click of a button, we can get a lot more done than sitting in a queue waiting for your number to be called at the counter. The sector has witnessed a transition from the simple automation of paperwork in bank branches to today's branchless banking paradigms that use new-age contactless technologies.
Democratic access to the latest technological capabilities has played a role in destroying the barriers to entry and allowed tech-centric startups to compete with financial services giants. This is the time when financial services giants need to be meticulously prepared and explore the market opportunities to be future-ready.
This case study will explore the market opportunities for one of the well-known banking brands, by looking into a consumer's viewfinder. This helped our client in building trust while working on the areas where they lack.
In this case study, some of the areas we learn about:
- Factors influencing the choice of bank
- Major dissatisfiers with the current bank
- Issues faced with net banking
- Apps Vs Websites
Download the case study on consumer banking to know more about the current market opportunities in the banking space.