Barclays in India: Finding a Way to Grow with Mobile Banking*

            


Details

Case Code : CLBS096
Publication date : 2009
Subject : Business Strategy
Industry : -
Length : 03 Pages
Price : Rs. 100

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Key words:

Barclays, Barclays in India, strategy, banking, retail, financial services, commercial banking, corporate banking, retail banking, mobile banking, Hello Money, foreign bank, regulatory hurdles, branch expansion, late entrant, credit card, emerging markets

Note

* This caselet is intended for use only in class discussions.
** More comprehensive case studies are priced at Rs.200 to Rs.700 (US $5 to US $16) per copy.

 


Abstract: ICMR India ICMR India ICMR India ICMR India RSS Feed

In early 2008, Barclays in India launched a unique mobile banking service called Hello Money. The service, which the bank claimed was more user-friendly and cost-effective than the mobile banking facilities offered by other banks, was the bank effort to expand its customer base in an environment where there is a restriction on the number of branches that a foreign bank can open.

Introduction

In March 2008, Barclays in India (Barclays), the Indian arm of Barclays Plc, the major global financial services provider based in the UK, launched a unique mobile banking initiative in the country called 'Hello Money'. With this, Barclays hoped to expand its customer base in India despite the restrictions on foreign banks on opening multiple branches.

"Since there are constraints and regulatory hurdles in branch expansion, we intend to use the mobile banking channel coupled with business correspondent model to enhance our retail operations in India," said Samir Bhatia (Bhatia), Managing Director, India and Indian Ocean, Barclays Global Retail and Commercial Banking (GRCB).


Barclays had been present in India since the 1970s through its Investment bank Barclays Capital. However, it entered the Indian corporate banking and retail banking space much later...

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