Free Press Journal

10 Marketing Trends the Banking Industry Can’t Ignore

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The world of financial services is changing in ways that are more dramatic than we would have imagined even five years ago. Inspired by Apple stores and other similar outlets, banks are using smart technology to remodel their branches into smarter retail-like outlets. On the other hand, small retail shops are increasingly equipping themselves to provide a wide range of financial services from opening bank accounts to issuing insurance policies using high-tech handheld devices.

The enhanced communication landscape completely rewrites the ground rules for the distribution of banking, insurance and mutual funds products from the point of view of both the customer – who has increased choice and is empowered by the availability of instant options – and the conduit – in this case, the ‘human’ channel or the agents. Banks dominate the formal financial system in India, with 70.5% of the total assets of the financial system.

This, as well as other factors related to the development of markets and trust structures in the economy, has meant that universal banks are the dominant providers of financial services to consumers with access to the formal system. Retail banks, serving as customer-facing ends of the delivery channels for their own products as well as partner products like insurance and mutual funds, have stitched together distribution models to suit the needs of their primary consumers, while insurance and asset managers have aggressively grown their presence through physical as well as digital channels. Dramatic changes that are being taken place in the industry. Thus, re-thinking of marketing and distributions models, moving from old school strategies has become a necessity.


Below are the most important marketing industry trends that can’t be ignored by financial marketers. Unfortunately, according to the research from the Digital Banking Report, many financial services marketers are not embracing or effectively prioritizing these trends. These 10 topics and much more will be discussed at the BFSI PRODUCT MARKETING & DISTRIBUTION SUMMIT 2018 (4-5 July, Mumbai, India Event website: https://bit.ly/2IDgbTc)

  1. Changing environment & regulatory challenges in financial product marketing
  2. Product innovation, distribution & marketing in financial services
  3. New era of digital financial inclusion in India – Navigating the known & unknowns
  4. Challenges and opportunities in new product development & distribution in urban and rural areas
  5. Bancassurance – Distribution alliance between the insurance company and the bank
  6. Rules of the Game: Organization, Implementation, and Evaluation
  7. Evolution of NBFCs and asset/wealth management companies in India
  8. Transformation of retail banking distribution
  9. Evolution of marketing & distribution of Mutual Funds in India
  10. Challenges & opportunities in the housing finance market in India

Some of the key speakers at the summit include:

  • Abhishek Gupta

Senior Vice President and Head – Marketing

Edelweiss Group

 

  • Akhilesh Jha

Head – Distribution

DBS Bank

 

  • Deepali Naair

Chief Marketing and Digital Officer

IIFL Investment Managers

 

  • Jaimit Doshi

Executive Vice President – Marketing

Kotak Securities

 

  • Juzer Tambawalla

Head of Marketing

Franklin Templeton Investments

 

  • Manish Thakur

VP – Products & Strategy

Canara HSBC Oriental Bank of Commerce Life Insurance Co. Ltd

 

  • Prathibha Ramachandran

Head-Innovation, SGSS India

Société Générale Global Solution Centre

 

  • Rakesh Wadhwa

Chief Marketing Officer, Head of Strategy & Retail Assurance

Future Generali India Life Insurance

 

  • Rahul Karmarkar

Head: Business Strategy & Acquisition

Axis Bank

 

  • Sanjay Sharda

Head Rural Distribution

IndusInd Bank

 

  • Shailesh Pandey

EVP & Head – Strategy & Marketing

Fino Payments Bank

 

  • Sopan Upadhyay

Chief Marketing Manager

IDBI Federal Life Insurance

 

  • Sonjai Kumar

Certified Member of IRM, London

Ambassador in India of Institute of Risk Management (IRM)

 

  • Srikant Rao

Head Products – Secured Loans & Business Working Capital

Standard Chartered Bank

 

  • Srinivas Jain

Executive Director – Strategy and International Business

SBI Fund Management Private limited

 

  • Upendra Namburi

Chief Innovation & Marketing Officer

Bharti AXA General Insurance

 

  • Vishal Soni

Group Vice President | Product Head – Banking, Insurance & Investments

DCB Bank Ltd

 

To know more about this summit, participate as a delegate/sponsor please visit: https://bit.ly/2IDgbTc