Here’s our latest success story:
Retail Bank Sees Strong Uplift In Online Customer Acquisition
CRO boosts conversion of website visitors to customers
Kotak Mahindra Bank is one of the fastest growing and most admired financial institutions in India. Since its inception as a nonbanking financial company in 1985 and as a bank in 2003, the Kotak Group has leveraged technology to fuel its growth and enhance its stature. Soon after savings account interest rates were deregulated in India around a year ago, the retail banking business of the bank launched a high-yield savings account and followed it up with a highly visible advertising campaign across TV, online and print media to attract new customers. In keeping with times, the bank launched online account opening apart from the conventional process that involved paper forms and required a branch visit. Spanning a web portal for application, telephone calls for clarifications, emails for confirmations and in-person visits for submission of KYC-related documents, Kotak Instant Account was an early adopter of omnichannel banking. According to anecdotal evidence, the bank’s conversion rate of online visitors to customers was on par with industry benchmarks. However, since the bank has traditionally sought to use technology as a differentiator, it was not content with merely matching industry averages. As it was seeking ways to push the envelope on acquiring more customers through the online channel, GTM360 introduced its Conversion Rate Optimization (CRO) solutions to Kotak Mahindra Bank. Read more>>>