It's the sort of innovation that many other banks would like to have gotten to first, except that they aren't all set up to ensure that innovation is a process — like it is a IndusInd.
The company maintains an idea pool; top management monitors and approves ideas it believes are the most viable innovations. The video branch app was the brainchild of the solution delivery group with assistance of the in-house IT team, solution providers, and partners. "We have a dedicated solution delivery group that works with business as well as IT. All initiatives are run through the company's steering committee — where business teams drive all kinds of IT initiatives," says Jaiswal.
The Benefits: Digitization, in general, has been tremendously successful for IndusInd Bank. Of all the customer accounts it opens a year, between 60 and 70 percent are activated on the electronic channel. The bank has a total of 2.5 lakh account holders accessing digital channels, including net banking and mobile banking users."We target digitally-engaged customers who have businesses or holdings online at the rate of 3x to 5x times more than customers who aren't online. We are a technology-backed, customer-centric bank that wants our customers to treat us as a primary institution with a presence online and on mobile," says Kathpalia.It has been one-and-a-half months since IndusInd Bank launched the app. Since then, the bank has recorded downloads from across APAC, Europe, the Middle East and Asia. A total of 500 app installations for its iOS version, and 1,000 installations for its Android app have taken place so far. "We have also received over 2,500 calls from the website and mobile app in order to find out more about the new service," says Kathpalia.
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