What We Do

  • Customer journey mapping
  • Customer needs assessment
  • Voice of customers
  • Digital banking journey mapping
  • Customer share of wallet study
  • Customer NPS diagnostic
  • Brand NPS diagnostic
  • Employee NPS diagnostic
  • Ad effectiveness monitoring 
  • Campaign evaluation
  • Micro-market mapping & opportunity analysis
  • Competitor benchmarking
  • Branch economics
  • Customer persona identification
  • Eye tracking study
  • Process benchmarking
  • Concept testing and evaluation
  • Interest rate benchmarking
  • Real estate cost benchmarking
  • Channel economics benchmarking
  • Channel tracking
  • Sales channel NPS diagnostic
  • Offering NPS diagnostics

Related Case Studies

Concept validation for new product launch by digital lender

Concept validation for new product launch by digital lender

Objective

  • A growing digital lender wanted to launch a new product and hence liked to test the customer behaviour towards both its upcoming and existing products 
  • Client also wanted to identify the most useful media for the marketing of its products  

Methodology

  • Conducted survey (N = 500) with customers belong five metros and have some experience in taking unsecured loans 
  • Identified customer behaviour towards their existing loans, their media consumption behaviour, and usage of different online services 
  • Presented various concepts related to the upcoming and existing product offerings and tested their likeliness towards them 
  • Deep-dived the validation with in-depth interviews (N = 100) with different customer segments based on their demography, past credit behaviour, and likeliness towards offerings 
  • Understood customer behaviour towards different the selection of loan products for different personal and business needs and verified the strengths and weaknesses of different product offerings of the client 

Impact / Outcome

  • The client validated and tested the upcoming product across different major cities and looked forward towards marketing and advertising strategy through different media platforms.
Customer journey with digital gold loan player

Customer journey with digital gold loan player

Objective

  • Client wanted to evaluate an online gold loans player for a potential investment and identify differentiation in the customer journey of the digital lender with traditional player 

Methodology  
  • Conducted customer survey (N = 400+) of loan consumers across 8 major cities to understand customer behavior and experience with the gold loan lender and its competitors 
  • Conducted in-depth Interviews with industry experts and customers (N = 65) to map customer borrowing needs with different loan products based on loan amount, urgency, collateral capacity, and repayment options 
  • Identified key selection criteria, differentiating loan product features (interest rate, processing fee, documentation, loan TAT), and loan application process 
  • Assessed the impact of technology on lender selection, loan TAT, and on loan process – origination to repayment by the customers  
Impact / Outcome 
  • Enabled the client to understand the overall gold loans market, operations of various market players, and impact of digitalization over changing customers preference and needs. 
NPS study for NBFC player across various loan products

NPS study for NBFC player across various loan products

Objective

  • An emerging Non-Banking Financial Company (NBFC) wanted to understand its perception amongst customers and Direct Selling Agents (DSAs) vs other competing NBFCs along with reasons for stickiness and detraction. The client also wanted feedback on efficacy and efficiency of lead generation and customer service channels.  

Methodology

  • Conducted consumer survey (N = 500) across 25 cities (mix of metro, tier 1 & 2 cities) for different customer segments (based on gender, age groups, income, etc) and across key loan products (Personal loan, Business loan and Micro finance) 
  • Calculated NPS across different customer segments to understand reasons for difference in customer satisfaction across different segments  
  • Conducted in-depth interviews (N = 20) with customers to understand key reasons for stickiness and propensity to switch to other banks / NBFCs and reasons thereof 
  • Conducted in-depth interviews (N = 30) with DSAs to understand their preferences, reasons to push loans to certain banks / NBFCs and NPS 
  • Used proprietary NPS framework to identify key action items detailing specific improvement points along with identifying relative strengths and weaknesses

Impact / Outcome

 
  • Client developed clarity on perception, preferences and feedback as compared to its competitors with action points on how to improve NPS.
Opportunity analysis in supply chain financing

Opportunity analysis in supply chain financing

Objective

  • Client wanted to assess the opportunity in providing credit to the supply chain participants in the maintenance, repair, and operations (MRO) product market 
  • They wanted to identify the operating leverage in the same and the usage of technology by the channel partners 

Methodology

  • Conducted in-depth interviews (N = 100) with various distribution channel partner (MRO products) including authorized dealers, distributors, retailers, and agents 
  • Identified the channel partner behavior of the various MRO products – technology usage, margins, credit usage, and credit partners involved in the system 
  • Conducted in-depth interviews (N = 20) with credit managers and branch managers of various banks, NBFCs, and digital lenders 
  • Identified and benchmarked various products available to the channel partners fulfilling their supply chain financing need 
  • Mapped loan products available with the credit usage and identified gaps in the system due to which MRO channel partners looks for local money lenders 

Impact / Outcome

  • Devised potential opportunity for the client suggesting starting with supply chain financing although they can face difficulty in getting cash credit from banks. 
 Understanding small HFC customer experience and behavior

Understanding small HFC customer experience and behavior

Objective

  • Evaluate customer experience with the HFC across the loan cycle and identify areas of improvement; develop understanding of customer thought-process, preferences, and perceived quality of delivered services. 

Methodology

  • Visited two major business regions, one each in north and south India and conducted in-depth interviews (N = 120) with both existing and churned out customers, who have taken individual home loans for construction, reconstruction, purchase, and who have taken loan against property
  • Conducted in-depth interviews (N = 40) with Direct Selling Agents (DSAs) to identify product and process level differentiation with the competitors – selection and acceptance ratio, loan TAT, and post disbursal services and challenges 
  • Visited competitors’ branches (N = 14) in both the geographies to understand about their channel preferences, loan product features, and assessed underwriting process and deviation taken by them 
  • Created customer journey from need generation to channel identification and loan application process and marked challenges faced by the customers at different phases of the journey 
  • Identified gaps in the loan process and service levels by segmentizing all the challenges faced by the customers both pre and post disbursement of the loan 

Impact / Outcome

  • Suggested areas of improvement recommended across both the geographies and approved for implementation by the management team. 
Channel preference in housing finance

Channel preference in housing finance

Objective

  • Client wanted to understand the various sourcing channel used by the housing finance sector and which are the preferred channels. They also wanted to understand the customer behaviour and experience with different channels?

Methodology 

  • Visited branches (N=50) of ~10 banks and housing finance companies across 9 cities in India and conducted in-depth interviews with the branch and relationship managers (N=80) to understand about different channels used by them to generate leads 
  • Deep-dived into the difference in preference of various channels with the changes in city type, customer demography, loan ticket size, and loan type 
  • Conducted in-depth interviews with Direct Selling Agents (DSAs), builders, and customers (N=100) for home loan finance and loan against property 
  • Conducted loan customer survey (N=500) across 12 cities (mix of metro, tier-1, and tier-2 cities) belongs to different demography and have taken either individual home loan or loan against property from major Scheduled commercial banks or housing finance companies 
  • Combed through demographic data from survey to create customer personas to identify their preferred channel choice and key selection criteria and identify the variation across public sector banks, private banks, and large HFCs 

Impact / Outcome

  • Enabled the client to understand about the different channels (RE brokers, DSAs, direct), while make them understand the reasons of such preferences in terms of channel margins, customer experiences, and relationship with the branch / HFC

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