Technology redefining customer journey, voice assistance becoming more important, says Tata Capital's Abonty Banerjee

In an interaction with BestMediaInfo.com, Abonty Banerjee, Chief Marketing and Digital Officer at Tata Capital, talks about the millennial-first approach of the company. She shares insights that the company has gained through its digital marketing campaigns and how it is using voice assistance to provide seamless experience to users.

Talking about the company’s objective to build a digitally enabled and customer-first ecosystem, Banerjee said, “We want to continue to build a customer-first organisation, technology will play a pivotal role as we move forward. Innovation will drive our various digital assets. Technology plays a critical role in redefining customer journeys, creating new platforms, simplifying processes and identifying new business avenues.”

She talks about the new ‘Count on us’ campaign the financial services company has launched.

Excerpts:

What trends impact consumer behaviour in your category the most? How does the brand Tata Capital strategises to be a differentiator in the category?

We are working towards making our brand for the millennials. We are engaging with this segment through various platforms and we will continue to nurture this category going forward through campaigns, social media and other digital platforms.

With over 100 companies within the Tata ecosystem, there is immense potential for Tata Capital. The strategy is to focus on growth, build synergy within the Tata ecosystem and simplification. We want to continue to build a customer-first organisation, technology will play a pivotal role as we move forward. Innovation will drive our various digital assets. Technology plays a critical role in redefining customer journeys, creating new platforms, simplifying processes and identifying new business avenues.

Voice assistance and search has seen a phenomenal growth in India. How’s Tata Capital using this technology?

Early this year, we did launch our very first VoiceBot called TIA. It is designed to voice-assist the personal loan customer journey, check loan eligibility and aid the customer through the loan approval process in minutes.

TIA aims to create a whole new conversational experience for customers using speech-recognition technology, natural language understanding and text-to-speech technology.

Equipped with intelligent features and options, TIA has the ability to answer customer queries, assist in simplifying the loan process, help customers choose the right offering and help the customer avail a loan sanction within the Tata Capital app. TIA brings ease and convenience to the customer by providing a personalised and seamless experience.

Conversational technology, and more specifically voice assistance, has seen exponential growth in India. With TIA, we aim to pioneer this change in the loan approval journey by making the customer experience smarter and quicker. We are confident our new voice-assisted service offering will see rapid adoption given its ease of usage and ability to simplify the loan approval journey. Its web-based interface has already seen rapid adoption by customers in the form of more than 3 lakh interactions within a first few weeks of launch.  The voice-assisted journey will further differentiate the offering.

Customers today use their smartphones as the preferred mode for financial services. TIA’s ability to gather customer insights will further help Tata Capital to enrich the customer experience and enable the organisation to add transformative features to their digital solutions of the ever-evolving customer in India.

What are digital initiatives have been taken so far?

Tata Capital set its digital strategy to drive growth and innovation. Technology played a critical role in redefining the customer journeys, creating new platforms, simplifying processes and identifying newer business avenues. Adopting a customer-focused approach, a series of platforms and initiatives were launched for the retail as well as the commercial business.

During the year, customer-facing digital platforms, including the new Tata Capital portal and the Tata Capital mobile application, were refreshed and relaunched with improved user experience, content and conversational interfaces, including chat-bots.

Other new platforms that were launched included a re-imagined personal loan application journey, a revamped wealth management platform for customers and CRM for wealth RMs, seamless pre-approved personal loans for employees and a new digital sanction process for loans sourced by distribution channels.

Tell us about the brand’s latest campaign ‘Count on us’ and its product promise.

Our latest campaign is “Count on Us” comprises three real-life humorous videos based around a central theme of Tata Capital being a financial advisor that is transparent, is an expert and delivers on promises. The key retail offerings showcased are — personal, home, vehicle and two wheeler loans.

What kind of brand image do you try to build through your campaigns?

We have in the past one year built a differentiation and creating a niche for Tata Capital.  We have launched a mass media brand campaign with the message ‘Taal-matol ko chhodo, Tata Capital se rishta jodo’. The campaign consists of three TV commercials that focus on Tata Capital’s key retail loan offerings — personal, home and business loans.

We have launched social media campaigns such as #breakstereotypes, which is a humorous video encouraging women to go beyond pre-set gender roles. The video stars Chak De India fame actress Tanya Abrol as the protagonist.  The campaign was a huge success on social media platforms such as Facebook, Instagram and Twitter.

Our other major campaign was the #WedEqual campaign. A quirky, light-hearted yet thought-provoking video featuring social media comic star Mallika Dua and Anubhav Pal, the multifaceted witty stand-up comedian, it was a huge success. The campaign focused on Tata Capital’s Wedding Loan offering.

What are the new products that Tata capital has launched in the past six months and is planning to launch in the next six months?

Tata Capital rolled Version 2.0 digital platform exclusively for MSMEs. This version is faster and easier than before. MSME customers can now avail loans up to Rs 50 lakh within four hours with minimal documentation with 90% faster and simpler processes. The platform has also enabled the organisation to enter new segments and offer loans with lower-ticket sizes. Customers can now avail channel finance loans up to Rs 2 crore, sales-invoice discounting facility up to Rs 20 crore and equipment finance loans up to Rs 1 crore.

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