HDFC launches new initiative to cut transaction time

HDFC Bank has roped in NCR Corporation to launch a new initiative that will make customer transactions with the bank faster across all direct banking channels – ATMs, net banking, and phone banking.
 
Speaking at the launch function in Mumbai, Rahul Bhagat, country head for retail liabilities, marketing and direct banking channels, HDFC bank, said the new initiative will enable customers to slash their transaction time by 40 per cent. The new technology will enable customers to save their favorite transaction, saving time and cutting the clicks required in the transaction from 9 to 5 he said.

He said the initiative has been launched as an optional offering to suit customer convenience. He added that direct banking channel transactions account for 84 per cent of total transactions and the initiative is expected to significantly enhance customer engagement and experience.

According to Bhagat, HDFC has improved the integration of data mining and analytical capability to enable delivery of targeted messages customised to the customer's preferences and profile.

Anil Jaggia, chief information officer, said HDFC Bank has a stellar record in the use of technology in the delivery of cutting edge customer solutions. The current offering is one more such initiative in delivering ''first time'' world class technology to the Indian customer.

Pradeep Sen, managing director of NCR for India area, said NCR has always led the way to the next generation of customer interactions in partnership with trusted business institutions. The delivery of personalised and targeted messaging would greatly improve the communication effectiveness between institutions like banks and their self service customers.

Peter Frielick, vice president – marketing of NCR for South Asia Pacific, said that with the new initiative, HDFC Bank now offers a varied suite of services, unfolding a new era in Indian banking industry.

Replying to questions, Bhagat said the pilot launch of the initiative in Pune has met with the approval of more than 75 per cent of customers.
When queried about targeted messaging replacing tele-marketing, he replied in the negative. He said that targeted messaging is all about reaching out to customers.

To a question regarding the use of NCR technology in the region, he said, that this was the first time that the solution was being introduced across all channels, including ATMs, net banking and phone banking, in the region.