Ketharaman Swaminathan Founder and CEO at GTM360 Marketing Solutions
As startup mentors will tell you, a successful entrepreneur needs to: Take risks Move fast but be patient Thrive on ambiguity Online banking is a great way to develop these skills. Here's why: #1. Take risks Online banking portals mince no words when they tell you that you're on your own while making an electronic fund transfer. Their warnings in...
01 October 2015 /retail
In Beware Of Credit Card Reward Redemption Theft, I'd written about the many occasions in the past when I didn't receive my credit card redemption until I chased the bank in question. In all those cases, the courier company in question seemed to be waiting to decamp with the gifts if I hadn't followed up on their non-receipt. A recent experience m...
13 September 2015 /retail
Data purists would rap my knuckles for asking this question and reply, "Never". On the other hand, "data sophists" who're accustomed to lying with Big Data in even more crude ways would wonder, “Duh, they’re the same, no?” If you don't belong to either camp, you might pause and wonder if there's a golden mean between the two ex...
11 August 2015 /retail
Many discussions of security standards emphasize how Chip + PIN and Two Factor Authentication reduce fraud loss and exhort countries using Magstripe / Chip + Signature and Single Factor Authentication (e.g. USA) to immediately migrate to the newer technologies. Take for instance Campaign pushes for US adoption of chip and PIN on Finextra. ...
20 July 2015 /regulation
Since I wrote HDFC Bank's PayZapp Ends My Bill Payment Woes, I’ve made a few more bill payments using the mobile wallet. All of them went through successfully (knock on wood!). I'm even more convinced that PayZapp is the best way of paying bills. That said, PayZapp faces many challenges in appealing to Millennials and other first time users who te...
05 July 2015
I get around 15 bills a month from a variety of telcos, utilities, and other billers. Being an omnichannel freak, I don't have any bias towards how I pay them, with my choice of payment channel depending largely upon where I am when a certain bill falls due: If I'm close to my laptop, I pay at the biller’s website; if I’m in the biller's neighborh...
26 June 2015
Many a neobank seems to be founded on the premise that Gen Y and Gen Z (collectively "Millennials") are digital natives and prefer digital interactions to physical ones in everything including financial services. Personally, I don't find any serious shortcomings in the online, mobile or social media offerings from any of my traditional ba...
08 June 2015 /retail
From personal experience and anecdotal evidence, there's no question that retail banking customers are increasingly moving to digital channels to conduct everyday banking transactions like balance inquiry, statement download, and so on. Notwithstanding the pronounced shift in customer preference to digital channels, bank branches are far from dead....
06 February 2015 /retail
According to the Economic Times article Brokerages’ Retail Pain Is Banks' Gain, banks have stolen a march over neobanks in the e-brokerage space in India. Cheaper access to funds and greater trust - "no one lost money with a bank" - are two major factors that have gone in favor of banks. Based on personal experience, I'd add better CX as...
25 January 2015 /security
I’ve been shopping online since circa 1998 but, over the years, the following factors have taken the shine off my initial enthusiasm for ecommerce in India: Driven by VCs braying for profits, many ecommerce players in India have moved from the traditional inventory model to the asset-light marketplace alternative. Based on my exposure to this mode...
18 January 2015 /payments
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