Why is Financial Inclusion important?

Financial Inclusion is a common theme across multiple initiatives both by governments and private sectors across economies. Especially in the developing world, it would be safe to say that Financial Inclusion must be in the top 5 priorities of the respective governments. But why exactly is Financial Inclusion important ?   Financial Inclusion takes an economy towards more equal opportunities Financial access is a key component towards providing equal opportunities and equal access for growth for various segments of the society. Just like education, nutrition and healthcare access are critical in driving growth of a population, so is access to

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Digital success needs a matured partnership mindset

I believe that smart matured digital players will need to develop deep  partnerships. Let me explain why. With the growing consumption of digital media, there is considerable noise that a consumer is now exposed to. This would mean that the brands have a fast shrinking window of opportunity where they have their prospects attention. Most brands do understand this and hence have started investing heavily in better designs and more meaningful content. But when it comes to acquisitions, it seems that this underlying assumption is usually forgotten. Maybe the acquisition teams are overwhelmed by the amount of digital data they

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Why mobile payments must arrive soon

I try to go walking on most weekdays. And I prefer to do so light – carry just the minimal stuff. On my way out for a walk yesterday, I stopped by to take some cash along with me – just in case. And this got me thinking, with my smartphone (& earphones) I do not need so many other things. I know the time(so that I am in time for that movie), can listen to music while I walk, I can track my work emails (allows me to stay away from my laptop) , I know I can be reached anytime

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Crowdsourcing from a captive audience – New approach to complimentary breakfasts

Crowdsourcing is all the rage. And restaurants seem to have caught the fancy. There is this guy who is spending a good time just getting real feedback before he decides what and where of his restaurant. A few restaurants have decided to skip the printed menu completely. Who wants to pay professional photographers when the customers can click the dishes with their smartphones and create a more powerful visual menu? So let’s take the example of the first guy – are restaurants keen to know which dishes to keep in their menu? In most of the cases – Yes ! Does crowdsourcing

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TripAdvisor feature – add professional profile and ratings

What makes TripAdvisor a preferred choice in the process of identifying a hotel to stay at is the rich guest-feedback and reviews for most of the listed properties. The stuff about getting addresses, details, baking in a booking engine has been done by very many, but where TripAdvisor leads the pack is this recommendation layer built on top of this aggregated data. This recommendation layer is what helps us in not only discovering but also deciding on the hotel/restaurant we want to go to. It also gives you a place to comeback and share your own views – which hopefully

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PayTm bill payment

Why I use Paytm for all bill payments except Airtel

Consumer behavior used to be a course that marketing folks took in 2nd year of Bschool. I stayed away , like most other marketing courses. But over the years, time and again I have seen the importance of understanding the consumer behavior – why do consumers behave a specific way, why and how are habits formed, are all habits sticky, what would prompt a habit change and so on. My Online Bill Payments Behaviour Recently I just noticed something interesting about how I pay my bills. It brought up the importance of consumer behavior yet again. So here’s what happened. Every

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Recommended feature for Google Maps Application

Gratitude First – I am really thankful for Google for the traffic layer on its Maps application. Like most others in Delhi, I have become a regular Google Maps user now, checking the traffic updates and choosing the route that I should take to reach my destination. So much so, that my driver also insists on it. I started tracking my typical usage behavior and interesting things surfaced. I would open the application if: I am going to a new/unusual place or To the usual place at a not-the-usual time, I don’t know the route or the traffic conditions or

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Prediction comes true – In-site search market heating up

Not so long ago, I had written a blog post on why Bing should focus on in-site search as a way to fight Google’s stranglehold on the search space. While no one at Bing or Google heard me out on this, Techcrunch now reports on how this space is heating up. Two start-ups have already raised serious Series A capital and are focussed on just this one opportunity – Making the In-Site-search experience better. While the start-ups and its investors can rest assured of acquisition offers coming their way, it is still surprising to see that Bing and other Google

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Why Financial Services Cos need Designers and fast !

I just came back from depositing a cheque into a relative’s HDFC Bank account. I know, its a crime that I did not use the Online Money Transfer services, especially since I am a self proclaimed Digital guy working in the Financial Services sector. Anyways, I was filling in the deposit slip with details of the cheque and the beneficiary account details and suddenly there was this huge frustration in filling the same information twice.  HDFC Bank does not use a carbonated Deposit slip like Citibank India does. And it stuck me that once I have experienced the Citibank’s way

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9 challenges in digitizing the sales force

Very few of us embrace change.Most of us would try our best to avoid any change in the status quo. Especially if it drastically impacts the way we work. Hence any initiative to convert an offline banking/insurance sales channel into a digitally-enabled online one, is sure to face a lot of resistance from the existing teams and one must be prepared to weather these strong head-winds. While there is no single solution which you could adopt, but a deeper understanding of what causes this overall resistance, would help you understand what needs to be done in your specific instance.  

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