IDFC First Bank's Technology-led Banking Services and Digital Media Promotion
|
Case Code: BSTR598 Case Length: 14 Pages Period: 2015-2020 Pub Date: 2020 Teaching Note: Available |
Price: Rs.300 Organization: IDFC First Bank Industry: Banking Countries: India Themes: Technology in Banking, Banks and Banking, Digital Transformation, Social Media Marketing, M&A |
Abstract Case Intro 1 Case Intro 2 Excerpts
Excerpts
The Merger of IDFC Bank and Capital First
Capital First was founded as Future Capital Holdings in the year 2008. Between 2008 and 2010, the company launched financing real estate developers, corporate credit, private equity, asset management, foreign exchange business, etc. Over the years, the company secured funding of Rs. 8.10 billion from Warburg Pincus to buy out the stakes of other shareholders. Finally, in 2012, Capital First was formed...
Use of Digital Technology
Since its launch in 2015, the erstwhile IDFC Bank had focused on network expansion through branches. It had built up a different retail format that comprised a well-organized physical network that had an overlay of technology with a human touch. The bank also thought of automating most of its processes to increase operational efficiency. To be a new-age bank, IDFC First bank took various initiatives...
UCCE and UCIC
In July 2018, the bank implemented CISCO ‘s Unified Contact Centre Enterprise (UCCE) and offered the Banker-on-Call service to provide better customer service. It helped customers get a 24x7 connected digital experience across channels such as the Contact Center, Email, Chat, and Remote Expert Branch (REB). To avail of this 24x7 Banker on Call service, the customer had to register himself/herself with the bank by sending the relevant filled application...
Use of Digital Media
IDFC First Bank used digital technology not only to provide better financial services to its customers but also to promote its brand and products. The bank mostly used social media platforms such as Facebook, Twitter, WhatsApp, Instagram, LinkedIn, and YouTube to launch its innovative campaigns...
Technology A Pivot in the Bank's Future Growth
As of August 2019, IDFC First Bank’s retail sales had reached Rs. 440 billion and they were expected to grow to Rs. 1,000–1,200 billion by 2024. As of September 2019, the bank’s retail loan book had seen a growth of 25% whereas its retail deposits and current account and savings account (CASA) had increased by 64% as compared to the previous year. A higher CASA ratio would mean lower cost of funds as banks normally didn’t pay interest on current account deposits while in the case of saving accounts, the interest was only 3-4%. Detailing the future prospects of IDFC First Bank,...
Buy this case study (Please select any one of the payment options)
| Price: Rs.300 |
Price: Rs.300 | PayPal (7 USD) |
