Winning the Hearts of Indian Customers: A Strategic Blueprint for Banks in 2024

In the digital banking age, where technological advances and seamless online experiences continuously raise customer expectations, Indian banks face unprecedented challenges and opportunities. How can banks win the loyalty of modern Indian customers and capture their wallets in 2024?

To answer this crucial question, Backbase, in collaboration with The Digital Fifth, convened a roundtable with top CXOs from India's leading banks, including HDFC Bank, ICICI Bank, Kotak Mahindra Bank, YES Bank, Karnataka Bank, South Indian Bank, and AU Small Finance Bank.

This whitepaper captures the rich insights from this strategic roundtable discussion, providing a roadmap for Indian banks to navigate the complex dynamics of a successful digital transformation.

Key insights include:

• Understanding why 70% of digital transformations fail
  Dive deep into the factors causing digital transformation initiatives to underperform and learn how to overcome these hurdles to drive success.

• Re-architecting banking around the customer
  Discover strategies for shifting from a product-centric to a customer-centric approach, ensuring every digital initiative meets evolving customer needs.

• Navigating the build vs. buy debate
  Explore the merits and pitfalls of building versus buying digital solutions and how an accelerated build strategy offers a balanced path forward.

• Leveraging advanced technologies to stay ahead
  Learn how AI, blockchain, and cybersecurity measures are reshaping customer engagement and what this means for your bank's digital strategy.

• Adopting an Engagement Banking Platform
  Understand the power of a unified platform in enhancing service delivery, driving operational efficiency, and maximizing customer lifetime value.

Indian banks stand on the cusp of a significant digital overhaul. With digital banking platforms setting the pace, now is the time to align your strategies with the industry’s best practices and customer expectations.

Download the whitepaper now to equip your bank with the knowledge and strategies needed to thrive in the digital era. Discover how to win the hearts—and wallets—of India’s modern customers in 2024 and beyond.