RBL Bank and Google announced their strategic partnership recently which will provide better customer data management and analytics.
They are utilizing their digital platform, Abacus 2.0 to drive the Bank’s customer experience strategy and increase its value proposition to serve its rapidly increasing consumer base.
It will enable successful cross-selling within the Bank’s large consumer base, lowering client acquisition costs dramatically.
The Bank strives to provide a superior and comprehensive one-stop solution to its existing and new consumers with Abacus 2.0.
This will allow it to provide its many product offerings across channels in an efficient way.
RBL Bank now has over 4 million urban retail asset and liability clients, with a target of 12-14 million in the next three years.
For smooth customer onboarding, the bank will lean on Google Cloud’s secure and scalable infrastructure.
It will also serve as the technological foundation for a powerful product-agnostic client acquisition engine that will provide more inclusive access to multiple products.
This wide range of products includes payments, deposits, insurance, credit cards, investments, secured loans, and more.
Through the collaboration, the bank will use different Google digital solutions across digital channels to enhance client acquisition and product promotion.
“This is an important strategic milestone in our digital journey,” said Surinder Chawla, RBL Bank’s Head of Branch and Business Banking.
One of their important business initiatives is to advance their innovation agenda and establish an efficient and agile data platform to serve the existing and new clients.
He further added that they will boost their client targeting with Google Ads and explore co-innovation opportunities with Google pay to drive user engagement and build new digital services.
The RBL Bank will be able to extend its platform and services while meeting local regulatory and compliance standards by leveraging Google Cloud’s local infrastructure.
“Cloud technologies enable banks to offer their customers a fast, secure, and intuitive experience,” stated Bikram Bedi, Country head of Google Cloud in India.
They expressed their excitement to be able to assist RBL Bank in advancing their digital strategy and harnessing the power of Google’s enormous solutions.
Which would help to create and provide significant new services to their fast-expanding client base, he concluded.
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