How to leverage MarTech in lending business?

The original article was published by Research NXT.

Marketers across India as diving into the recently released B2C Marketing Automation Report India 2017.

And here’s one of them sharing his expert view on how marketers can embrace Marketing Automation in lending business.

During his conversation with Santosh Abraham, Lead Analyst, Research NXT, Sachin Sharma, Direct – IT – Ops and Strategic Ininiatives at Religare Finvest Limited (SME Loans), shares the best practices and challenges while implementing marketing automation in his organisation. Read on to know how Religare Finvest is managing the surge of technology in the business.

Santosh: Could you please elaborate on your role as Director – IT-OPs & Strategic Initiatives at Religare Finvest?

Sachin: I drive strategies for making the organization future-ready at all times. Whether it is about creating new business lines in the SME segment and making sure we leverage them, or introducing interventions that increase the efficiency and performance across metrics, I make sure we harness technology for positive impact.

Santosh: What is the size of the customer database with which you work on? How do you manage this database?

Sachin: While, I cannot reveal the database size, I can tell you that we are using a Netcore product for our emails and SMS.

Santosh: Do you use Marketing Automation Tools in your organisation?

Sachin: We currently use an external product, from Netcore, which typically involves designing of the communication and pushing the emails to the intended recipient.

Santosh: What are the main challenges that you have faced while implementing or using marketing automation in your organisation?

Sachin: Data security is the biggest challenge we face as a financial institution, hence going in for an external intervention is not very desirable. However, in our attempt to keep costs low, investing in an in-house system becomes challenging. Hence, it’s always a fine line that we tread between cost and efficiency.

Santosh: Which is the most effective channel in your marketing strategy to reach out to your consumers?

Sachin: The top 3 most effective channels for us has been Email, SMS and Mobile application.