Page 17 - Cafe Social Covid Special3 2020

Cafe Social #stay@home_edition 03

What awaits us outside our alma mater!

Piyush Kumar
A banker by profession| philosopher by demeanour | philanthropist by nature

.............. Continue:
The survey that was conducted at various
search engines are used to identify those who
stages of customer interaction in a bank
are needy and then call centers reach these
branch showed that till the time customers
customers for closure. NBFC sector where
used ATMs, internet banking, mobile banking,
sales force was needed to reach out to agents
their satisfaction index was very high.
for picking up documentation and convincing
The
moment call center entered the fray, it dipped them for taking loans from a particular NBFC ,
to a 60% of the best experience index and have now been replaced by tabs which lie
when the branch official intervened. It almost with agents and they only scan the docs for
came down to 40%. Hence it proves that NBFC which they deem fit for the customer

though the technology comes at a cost of and hence no one is needed any longer for
manual jobs but is far more efficient in delivery. documentation pick up. The files directly go to
One more aspect is the cost that is attached to the portal, a market place where various
use of manual services viz a viz technology. One NBFCs bid for the file basis their comfort and
transaction that costs Rs.8 in an ATM costs the then loans are disbursed within a TAT of few

bank Rs.28 when rendered in a branch. This
hours of picking from the agent. This has
was a report of one of the leading banks in
enabled companies save real estate cost and
2007-08. The technology has also made the
human resource cost substantially though.
banks change the strategy of opening brick
There are other aspects of life where we find
and mortar branches in huge numbers since
technology has replaced some professional or
the cost could be saved and alternatively better other. Cinema halls would have touts who
penetration could be achieved. You shall
thus
would sell tickets of famous movies at above
find that going forward we may just have par price. Book my show is the sophisticated
consolidation whereby the bank branches get legal online tout. Grocery stores, Vegetable
merged and thus incurring less cost against vendors, Service providers such as hair
these heads. The sales front has got impacted. dressers, cleaner etc. have been replaced by

In companies which are into share trading, mobile versions. Photographers at tourist
selling banking products, the sales forces have spots are not needed any more, chauffeurs are
reduced to bare minimum levels since now not needed, going forward HR team may not
people can download apps and carry out be needed, who knows. The next question we

transactions on their own. Artificial intelligence,
need to ourselves is.

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