With changing times, the banking sector in India too observed a sea change. From people frequenting banks just to deposit money to the age of building relationships rather than just customers has become the new norm. This has also opened new avenues of growth for the banking industry.
To build a steady relationship, banks are now offering life-cycle wise products. Saving plans are available from the moment a child is born. Then there are loan and insurance schemes to fulfil their educational, health or other such needs for a secure future. Banks are also providing guidance on wealth management and customized products to suit individual needs.
A major breakthrough in banking services has come in the form of internet banking and mobile banking. Banks have realised that the customers today need a convenient and secure way to manage their finances. Internet banking has provided the freedom of 24x7 banking to the customers. Now from getting your phone recharged to booking tickets for movie or a journey to taking loans, all is possible with a click of a button. With no additional cost and easy accessibility, the medium is fast taking over the traditional mode of banking. With strict security procedures and password-protected identity-checking service, online transactions have become quite safe and secured.
The usage of credit and debit cards has also seen a major increase among the younger segment of customers. According to a recent study, the average age of credit card holders has come down to 27 years from 45 in a span of just two to three years. Though this sounds like a good news for the banks, they are making sure that it doesn't cause a problem in the future. To ensure proper return of their debt, banks have come out with customer-friendly education material which helps the customer take sound financial decisions.
+1.jpg)
0 comments
Post a Comment