BANKING INDUSTRY- COMPARING PRODUCTS, CHANNELS AND SEGMENTS - BY MANDAR PARNERKAR

OBJECTIVE TO COMPARE THE PRODUCTS, CHANNELS AND SEGMENTS OF 3 PRIVATE SECTOR BANKS IN INDIA

BANKING INDUSTRY OF INDIA

PRODUCTS- HDFC BANK, KOTAK BANK AND AXIS BANK Personal Banking, Corporate Banking Personal banking, Corporate banking Investment, Insurance, DEMAT, Forex Investment, Insurance, DEMAT, Forex Loans Treasury

PRODUCT DIFFERENTIATION- ACCOUNT OPENING HDFC BANK OFFERS SERVICES WHEREIN YOU WALKIN TO A BRANCH AND WALKOUT WITH AN ACTIVE ACCOUNT. THIS BY FAR, WAS THE WAY BANKING CHANGED. ICICI USED TO DO THIS FOR STUDENT ACCOUNTS. KOTAK BANK HAS NOW ADDED A NEW DIMENSION WHEREIN THE ACCOUNT IS OPENED ONLINE. ALL OTHER SERVICES LIKE PAN UPDATION, AADHAR UPDATION ETC ARE BEING CARRIED OUT ONLINE BY THE BANKS.

CHANNELS- HDFC BANK, KOTAK BANK AND AXIS BANK TRADITIONAL (WALKIN TO THE BRANCH AND CHEQUE DEPOSIT/WITHDRAWAL) ATM, NET BANKING, PHONE BANKING, HOME BANKING WATCH BANKING (TIE UP WITH I-WATCH) ON THE WAY TO INTRODUCE ROBOTS IN A FEW BRANCHES AS PILOT

CHANNELS AND FUNCTIONING HDFC BANK OFFERS SPECIAL FEATURES LIKE WATCH BANKING (APPLE TIE UP) AND ARE ALSO WORKING ON ROBOTIC BANKING. IT HAS EVA, THE ONLINE ASSISTANT, WHICH HAS ANSWERS TO MOST OF THE CS QUERIES. KOTAK HAS ONE OF THE BEST NETWORKS OF ATM’S POST ITS TIE UP WITH ING-VYSYA BANK. AXIS BANK IS MORE CONSERVATIVE AND HAS LIMITED NETWORK, BUT OFFERS SERVICE OF A PREMIUM STANDARD.

SEGMENTS- HDFC BANK, KOTAK BANK AND AXIS BANK RETAIL BANKING WHOLESALE BANKING TREASURY AND FOREX

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