IBM (NYSE:IBM) today announced that one of India’s leading private sector banks, IndusInd Bank ,will use its IBM’s Cloud commerce solutions to transform customer engagements and enhance its cross-sell platforms, in line with the bank’s strategy. As a part of a three year strategic agreement, IBM will provide a cloud and predictive analytics based multi-channel campaign management solution that enables IndusInd Bank to strengthen its online banking presence while improving the product holding per customer.
In the highly competitive Indian retail banking space, businesses need digital marketing solutions capable of sifting through large amounts of transactional and interaction data from various touch points as well as strong analytical capabilities capable of evaluating customer behavior from the call centre, branch locations, website, mobile app, ATMs and more. Using customer behavior analysis and real-time contextual marketing, banks can ensure that customers connecting with the bank on any channel will receive relevant and timely communications and offers that address their unique needs.
In this first of its kind project for Indian industry, IBM combines its Digital Marketing and Analytics consulting, hardware, software, cloud, and business process services offerings to provide digital marketing as a service which helps centralize and standardize activities such as campaign planning, execution and management, while infusing deep analytics and process expertise. As a result companies can better understand customer behavior and increase quality of campaign execution without having to incur the cost of setting up full infrastructure in-house.
Sameer Gupta, Head Personal Banking & Decision Sciences, IndusInd Bank said, “Our objective is to build a cognitive framework powered by an automated marketing platform in conjunction with advanced analytical models which enables us to engage with our clients in a relevant and timely manner. This unique managed marketing partnership with IBM helps us leverage their market leading UNICA platform as well as their proven expertise in technology delivery. It allows us to focus on our client and business delivery without having to worry about technology components, capital costs, operations management and talent management. The solution will also enable us to engage across whichever channels the client may prefer from the contact centre to their relationship manager in real time where relevant.”
“The financial services sector is constantly looking at innovative marketing methods to enhance customer outreach. IBM’s digital marketing-as-a-service model combines powerful cloud and predictive analytics capabilities with our extensive experience in this sector which together can disrupt and transform how businesses such as IndusInd Bank meet the changing needs of their customers,” said Sachin Seth, Executive Director / Partner , Banking and Financial Services, IBM India SouthAsia.
About IndusInd Bank
IndusInd Bank, which commenced operations in 1994, caters to the needs of both consumer and corporate customers. Its technology platform supports multi-channel delivery capabilities. As on June 30, 2016, IndusInd Bank has 1,004 branches, and 1885 ATMs spread across 625 geographical locations of the country. The Bank also has representative offices in London, Dubai and Abu Dhabi. The Bank believes in driving its business through technology. It enjoys clearing bank status for both major stock exchanges – BSE and NSE – and major commodity exchanges in the country, including MCX, NCDEX, and NMCE. IndusInd Bank on April 1, 2013 was included in the NIFTY 50 benchmark index. Recently, IndusInd Bank ranked 13th amongst the Top 50 Most Valuable Indian Brands 2015 as per the BrandZ Top 50 rankings powered by WPP and Millward Brown.
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