We go by sensing customer requirement and, later, engaging with them... We feel a satisfied customer will always be a good brand ambassador
IndusInd Bank has made rapid strides over the last two decades, growing its loan book smartly, but maintaining the quality of its assets.
Romesh Sobti, MD & CEO, tells Bhavik Nair that even as the bank continues to roll out innovative products for retail customers, the challenge going ahead will be to keep the quality of the book intact.
What will be your growth strategy in coming years?
In selective areas, we plan to build more market share for superior returns. For example, in our consumer banking group, we want higher branch density in select cities, which would provide higher Casa per branch.
In vehicle finance business, we want to build greater domination as a consequence of our expertise in this segment for 30 years. In corporate and commercial banking, we want to build market share in select sectors and product verticals. But the challenge is to keep the quality of the book intact.
What’ll be the customer acquisition strategy?
The bank’s customer-centric stance continues to maintain its growth trajectory, keeping in line with the theme of ‘responsive innovation’. Our mantra is quite simple — we go by sensing customer requirement and, later, engaging with them, which leads to customer satisfaction. We achieve this with differentiation through innovative offerings. We feel a satisfied customer will always be a good brand ambassador.
IndusInd Bank has many first-of-its-kind innovations in the market like Video Branch, My Account My Number, Choice Money ATM, just to name a few. IndusInd Bank’s continued focus on understanding customer needs and creating solutions around them has helped it to create product-led brand building. I’m quite sure that in three years’ time we will become what I call a high-street brand, much more visible and respected than it is today.
How is IndusInd keeping its technology updated?
Digitisation of businesses has become the central theme of the bank and, we believe, within a span of few years, it will become an inherent part of banking. With the widespread use of smartphones as well as improving internet connectivity, customers are getting empowered through technology. We have launched yet another innovative service called ‘Video Branch’, which enables customers to access the staff over video and interact with the video branch at their own convenience, either from computers or Apple and Android smartphones. We will continue to invest in digital branches to create a differential banking experience. We have invested in technology platforms to have a single system to track requests, complaints and queries at customer level.