Financial Services
Designing a growth strategy for the transaction banking business for a rapidly-growing bank in India
21 Feb 2023
Context
A
wholly owned subsidiary of a foreign bank wanted to focus on growing its
transaction banking business by developing short-term strategies which can
enable it to get an advantage in the market and meet the budgeted target for
the next 1-2 years
Our
approach
- Analysed offerings, technology, service capability, and
organization structure and then compared against peers on similar growth scale
to determine the operational scope of improvement for the client
- Identified new sectors considering current capability of
client (branch accessibility, credit appetite, offerings), prospective new
target consumer segments that the client has a considerable possibility of
tapping into
- For each identified sector, target product offerings and
pitch were identified which were available within the bank or can be built in a
short period via partnership
- Studied existing customer to find scope of
additional transactions, especially asset clients which need to comply with RBI
regulation and proposed initiatives to deepen SOW
Praxis
value delivered
- Key strategic initiatives were defined to increase the bank’s
float and transaction income by 30%+ and meet the next year’s budgeted target
- Proposed initiative-wise tracker, organization structure
refinement recommendation and product build roadmap to support the growth
targets
- 5+ product offerings, including current account variations,
FX derivatives, sweep FDs, etc., were suggested for the client to be on par
with competitors
- 10+ new target sectors were identified for each corporate
offering, and product pitches were prepared to tap into the clients in the
identified sectors
- 10+ partnerships were envisaged to empower client with quick
go-to-market for new product offerings such as digital escrow accounts
- 100+ existing clients were identified with the
scope of increase in share of wallet via cross-selling or enhancing engagement
in existing products
Do
you want to turbocharge your business using digital technologies and processes?
Write to us below.