Official Blog of GTM360 Marketing Solutions
Many discussions on security standards emphasize how Chip + PIN and Two Factor Authentication reduce fraud loss and exhort countries using Magstripe / Chip + Signature and Single Factor Authentication (e.g. USA) to immediately migrate to the newer technologies. Take for instance the Finextra article entitled Campaign pushes for US adoption of chip and PIN. … Read more
Since I wrote HDFC Bank’s PayZapp Ends My Bill Payment Woes, I’ve made a few more bill payments using the mobile wallet. All of them went through successfully (knock on wood!). I’m even more convinced that PayZapp is the best way of paying bills for people who’ve tried out other alternatives. That said, PayZapp faces … Read more
In a recent interview with McKinsey, Citigroup CEO Michael L. Corbat alluded to shopping cart abandonment when he mentioned that today’s digital customers “just stop filling out the application” for financial products when they’re asked for “things that weren’t necessary”. Long a bugbear of ecommerce, this problem has started hampering the BFSI industry’s efforts to … Read more
I get around 15 bills a month from telcos, utilities and other types of billers. Being an omnichannel freak, I don’t have any bias towards where I pay them, with my choice of payment channel depending largely upon where I am when a certain bill falls due: If I’m close to my laptop, I pay … Read more
Traditional retailers aka kirana stores sell almost everything at MRP* whereas modern retail aka supermarkets sell almost everything below MRP (for the unintiated, this and other India-specific terms are explained at end of the post). Since Indians are price-sensitive, modern retail should totally corner the Indian retail market, right? Wrong! Modern retail accounts for barely … Read more
Personally, I don’t find too many serious shortcomings in the digital banking offerings from my banks. On the contrary, virtually every neobank / fintech I’ve come across is little more than a leadgen tool. But that’s outside the purview of this blog post, the purpose of which is to do a reality check on the … Read more
Data purists would reply “Never” and beat me up for even asking this question. On the other hand, “data sophists” who’re accustomed to lying with Big Data would wonder, “Duh, what’s the difference?” To pass off correlation as causation is a sophisticated way of lying w/ big data but there are many cruder ways here: … Read more
Those of us who redeem our loyalty points on gift portals will have inevitably come across a gift or two that was appealing to us but was beyond our reward points balance. On some gift portals, it’s possible to pick up the goodies by simply paying up the difference with cash e.g. Lufthansa WorldShop, IHG, … Read more
From personal experience and anecdotal evidence, there’s no question that retail banking customers are increasingly moving to digital channels to conduct everyday banking transactions like balance inquiry, statement download, and so on. Notwithstanding the pronounced shift in customer preference to digital channels, bank branches are far from dead. In fact, according to some reports, they’re … Read more
According to the Economic Times article Brokerages’ Retail Pain Is Banks’ Gain, banks have stolen a march over neobanks in the e-brokerage space in India. Cheaper access to funds and greater trust – “no one lost money with a bank” – are two major factors that have gone in favor of banks. Based on personal … Read more