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Banks need new ideas to win in today’s marketplace. While technological interventions have helped the common man perform many banking and investment transactions from home, we still see a crowd at select branches .
Customers visit the bank to remit cash, operate the locker, avail jewel loan and to just catch up with a banker friend.
“While innovation and technology adoption have helped capture the market initially, continuous improvement in branch operation model would help improve the in-branch experience,” says the Chief Executive of Karur Vysya Bank, K. Venkataraman.
And this 97-year young institution is aiming to focus on improving the in-branch experience this year by changing the layout and sprucing up the interiorswherever it is required.
In the first phase of this exercise, the bank plans to change the layout in as many as 30 branches by end-April.
“Our plan is to change the operation model in 70 branches across the country by the end of this year. We will concentrate on the branches where the customer foot print is more,” said Venkataraman. The bank has embarked on this exercise based on a study made by the Boston Consulting Group.
“We asked them to do a study of other banks and evolve a model that will suit KVB,’ said Venkataraman, who, prior to joining this Karur-headquartered institution, served as the Managing Director and CEO of SBI Global Factors.
“Our vision is to delight the customer continually by blending tradition with technology, improve in-branch experience and serve customers better,” he said.
KVB was set up in 1916 by the late M. A. Venkatarama Chettiar and late Athi Krishna Chettiar to inculcate the habit of savings and provide financial assistance to traders and small agriculturists in and around Karur, a small textile hub in Tamil Nadu.
He said even today, traders continue to patronise this bank. “We are gearing up to meet the requirements of young tech-savvy customers, while continuing to delight our patrons by blending technology and tradition.”
Source: thehindubusinessline
Customers visit the bank to remit cash, operate the locker, avail jewel loan and to just catch up with a banker friend.
“While innovation and technology adoption have helped capture the market initially, continuous improvement in branch operation model would help improve the in-branch experience,” says the Chief Executive of Karur Vysya Bank, K. Venkataraman.
And this 97-year young institution is aiming to focus on improving the in-branch experience this year by changing the layout and sprucing up the interiorswherever it is required.
In the first phase of this exercise, the bank plans to change the layout in as many as 30 branches by end-April.
“Our plan is to change the operation model in 70 branches across the country by the end of this year. We will concentrate on the branches where the customer foot print is more,” said Venkataraman. The bank has embarked on this exercise based on a study made by the Boston Consulting Group.
“We asked them to do a study of other banks and evolve a model that will suit KVB,’ said Venkataraman, who, prior to joining this Karur-headquartered institution, served as the Managing Director and CEO of SBI Global Factors.
“Our vision is to delight the customer continually by blending tradition with technology, improve in-branch experience and serve customers better,” he said.
KVB was set up in 1916 by the late M. A. Venkatarama Chettiar and late Athi Krishna Chettiar to inculcate the habit of savings and provide financial assistance to traders and small agriculturists in and around Karur, a small textile hub in Tamil Nadu.
He said even today, traders continue to patronise this bank. “We are gearing up to meet the requirements of young tech-savvy customers, while continuing to delight our patrons by blending technology and tradition.”
Source: thehindubusinessline
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