Leveraging Big Data in Indian Retail Banking

Big data in India has the potential of redefining banking, but the real question is if traditional banks are ready from a technology and strategic approach perspective.

Banks in India have always existed in silos, a strategy that has helped them to weather global financial crises and turbulent domestic markets. However, as developments of the past year show, decisions based on walled processes and databases are no longer optimal.

On the technology front, the e-wallets launched by banks are struggling to compete with non-bank mobile wallets. There are several reasons for the failure of bank wallets to catch on, despite sustained marketing efforts. Issues remain with regard to functionality, app user experience, and the failure of banks to capitalize on user data to generate customer interest in using the app.

Big Data is no longer an option for India’s banks, but what are the best strategies and approaches to take advantage of the opportunity and stay ahead of the competition? In the Big Data in Indian Retail Banking Report, we look at some of these key challenges and opportunities. 

Clients of Kapronasia’s Asia Financial Advisory Service can download this report. For more information on this report or any other of our reports, please email us research@kapronasia.com.