FCI: Unlocking Hyper-personalization in Banking at the India Banking Summit & Awards 2024

The landscape of the Banking, Financial Services, and Insurance (BFSI) sector is rapidly evolving. In this dynamic environment, real-time hyper-personalization and process-driven customer interactions are no longer just desirable, they’re essential.

Customers now crave personalized advice, seamless experiences across all channels (omnichannel), and end-to-end journeys that integrate interactions with both internal and external digital services. Furthermore, rapidly shifting consumer preferences, emerging competitors, and a complex macroeconomic environment have raised the stakes for BFSI businesses.

Conversations regarding how to optimize these customer communications into a revenue-driving concept for banks are still a boiling topic. At the 8th India Banking Summit & Awards 2024, a premier event exploring the future of banking through digital transformation, the focus will be on how banks can future-proof themselves through digital strategies, innovative products and services, and robust customer engagement via digital channels—all while proactively addressing cyber risks.

FCI will stand tall as a corporate partner at the India Banking Summit & Awards 2024

As India’s BFSI ecosystem flourishes, hyper-personalization is emerging as a key driver of customer engagement and satisfaction in the banking sector. To achieve hyper-personalization, banks are increasingly leveraging cutting-edge technologies like those that are to be discussed at the summit, including artificial intelligence (AI), machine learning (ML), digital lending, payments, and digital assets.

Transforming Transactional Communications into Hyper-personalized Engagement

The success of hyper-personalization hinges on selecting the optimal platform strategy. Financial institutions that choose platforms specializing in hyper-personalization, boasting global expertise and modular architecture, are best positioned to pioneer innovative features and services. This approach fosters agility and adaptability, crucial for keeping pace with evolving customer preferences and maintaining a competitive edge.

Amidst the array of distinguished participants, Sumedh Suklikar, VP-Sales, and Strategic Partnerships, FCI CCM, will be discussing a crucial pinnacle of CCM in one of the awaited panel discussions on Day 1. While the dignitaries would shed light on the crucial role effective communication plays in shaping customer experiences, the stage will be set to embark on the optimal roadmap to bring empowerment of personalized experiences to bank customers.

Varta: A Modern CCM Powering Customer-Centric Strategies and Revenue Growth

Varta, by FCI CCM, stands out as a modern Customer Communications Management (CCM) platform by not only empowering businesses with a data-driven approach to customer interactions but also by transforming service communications into a revenue driver. Here’s how:

1. Service Communication as a Revenue Driver: Unlike traditional marketing channels, service communications (transactional messages) inherently hold customers’ attention. Varta capitalizes on this by transforming these messages, often seen as a cost, into a powerful tool for driving revenue within financial institutions.
2. Real-time Predictive Analytics: Varta utilizes real-time transaction data to equip customers with actionable insights, allowing them to manage their finances proactively. This positions your bank as a trusted financial partner, fostering stronger relationships.
3. New-Age Multichannel Engagement: Varta transcends traditional communication methods. It leverages all channels (email, SMS, etc.) to engage existing customers, minimize friction in their journeys, and intelligently nudge them towards higher lifetime value.

Empowering Banks on Their Hyper-personalization Journey

Varta goes beyond traditional CCM by providing a comprehensive customer-centric approach. It empowers businesses to understand their customers better, personalize communication, and ultimately drive growth through improved satisfaction and loyalty.

Varta’s success in the Indian market, known for its scale and complexity, positions us as a valuable partner for banks worldwide. At the India Banking Summit & Awards 2024, FCI will share insights and learnings from transforming customer experiences for leading financial institutions. We believe our expertise in hyper-personalization strategies can empower banks to thrive in the ever-evolving BFSI landscape.

Join FCI at the India Banking Summit & Awards 2024 and discover how FCI Varta can help your bank unlock the power of hyper-personalization for a more engaged and profitable future.