•The Indian Public Sector Banks have a huge advantage of customer volume. And hence areas like customer segmentation, data driven credit offers, customer churn, customer 360, single view of customer and customer retention are not paid due attention by them. With the advent of competitive players from the private banking industry, the Public sector Banks are losing their customer base. So this exercise is an attempt to guide the Public Sector Banks on the areas that they could look into to avoid customer churn and ensure customer retention in their banks.
•Secondly, while Public Sector Banks do ensure due diligence before sanctioning loans, but their post sanction inspection is not robust. So we have tried to establish a mechanism whereby based on the characteristics of underlying collateral security, the banks can assess the probability of default well in advance.
Thanks Alex for the positive feedback. We have been able to implement the same solution at one of the Public Sector Banks here in India. The solution is currently under production. So the insights that we gathered from the hackathon have been a tremendous help. Thanks for the opportunity.
