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)
Some of the key speakers at the summit include:
Senior Vice President and Head – Marketing
Edelweiss Group
Head – Distribution
DBS Bank
Chief Marketing and Digital Officer
IIFL Investment Managers
Executive Vice President – Marketing
Kotak Securities
Head of Marketing
Franklin Templeton Investments
VP – Products & Strategy
Canara HSBC Oriental Bank of Commerce Life Insurance Co. Ltd
Head-Innovation, SGSS India
Société Générale Global Solution Centre
Chief Marketing Officer, Head of Strategy & Retail Assurance
Future Generali India Life Insurance
Head: Business Strategy & Acquisition
Axis Bank
Head Rural Distribution
IndusInd Bank
EVP & Head – Strategy & Marketing
Fino Payments Bank
Chief Marketing Manager
IDBI Federal Life Insurance
Certified Member of IRM, London
Ambassador in India of Institute of Risk Management (IRM)
Head Products – Secured Loans & Business Working Capital
Standard Chartered Bank
Executive Director – Strategy and International Business
SBI Fund Management Private limited
Chief Innovation & Marketing Officer
Bharti AXA General Insurance
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
