I.

Idea Executive Summary

Ideas proposed are building or integrating modules or other FinTech products in mobile/desktop
app/application for bank marketing and product offerings according to customer insight and lifestyle.
Chatbot, robo-advisor, gamification product, spend management and lifestyle products and marketing
campaigns are proposed to be developed or integrated. Ideas are to connect Investment/Mutual funds
with life related aspects and building consumers mind share on Investment/Mutual Fund with help of
technologies.

II. Idea Details

The proposed ideas are proposed for two target groups.

A. Middle aged family men/women:-

- Earns well and age in between 30 – 45. Generally family person.
- Casual about financial part. Has financial products perception as boring and non-exciting.
- Owns 1 or 2 homes
- After debt EMI payment and home expense has substantial money
- Has active leisure activities and vivid friends’ circle
- Enthusiastic about lottery and bet/follow adventure sports

Ideas Proposed

IDEA A1 (Display of lottery number in digital screen and build Risk Profile around it)

1. Install a digital screen in malls, playground entrance, coffee shops. The digital screen will display
running pictures which will change every 5 seconds. The running picture will have one number
which can’t be deciphered in normal eye.
2. Customer would click picture of any running picture. The picture can be uploaded in a bank
marketing page where the number will be deciphered. The number will be lottery number. User
can check what offer/reward available against the number is.
3. Customer has to go through few steps where customer has to answer few questions related to his
risk appetite. Through this process customer’s basic risk profile can be estimated. At the end of risk
profile steps, the offer/reward will be displayed. As also, related mutual fund suitable against
his/her risk profile will be advised.

IDEA A2 (Introduction of Chatbot and Robo-advisor in bank’s online application)

1. Introduction of one Chatbot/smart assistant which can act as automatic advisor to consumer.
2. User will be able to chat with smart assistant in natural language.
3. Smart assistant will give automatic advises to consumer whenever customer is opening account.
Examples are as below
a. Substantial amount of money is kept idle in saving/checkin account for a considerable time.
One advise will be displayed to consumer saying what are best ways to invest the money
according to his risk profile and other parameters
b. Consumer is going for opening a Fixed Deposit amount. Give primitive advises to consumer
what other product options which can give better returns are.
4. The application or bank should have access to user’s mobile pictures or social sites where from
bank can analyse or predict life changing events. Propose suitable investment products accordingly.
Examples are as below –
a. From mobile pictures it is analysed user has got engaged. Give suitable investment product
considering consume would need to buy a home in 3/5 years.
 b. From social it is learnt consumer has been blessed with baby. ON login to application, give
a life insurance product investment idea to customer with congratulatory notes.

IDEA A3 (Gamification in bank’s online application)

Introduce a gamified application where user will be able to participate in a virtual game based on day to
day stock prices. Following would be steps –

a. Consumer will be given an virtual amount of pre-defined money(Example: 10000 Euro)

b. Consumer can play in short term or medium term. Short term means 3 – 15 days where
medium term means 16 – 90 days.
c. Consumer has to invest the virtual amount of money in virtual stock exchange again equity
shares which values will be real time.
d. The virtual amount of accumulated money in the portfolio will be calculated on short term and
medium term basis.
e. The consumers can check what the amount they have generated in the game is. The game can
be played on selected group of friends or bank’s customer segments.

IDEA A4 (Build personalized marketing slide as per consumer preference)

Bank needs to find customers interest and build personalized marketing strategy according to that. Bank
can use social analytics and analysis of customer’s statement of account to find what preferences are
where customer can spend more money in future. Following are examples –

a. Through customer’s statement of account analysis it can be seen customer prefers to travel with
family. Considering that one mutual fund advertisement can be offered to customer saying “You
need to have 10000 Euros for family vacation in 2022. Start investing in long term mutual fund
today”.
b. Through social analytics it is observed certain section of customer is following skiing. User can be
offered a medium term mutual fund so that customer can participate in cross country skiing in near
future.

B. College pass outs who just have joined a job or switched to new city:-
- The target group is college pass out who just have joined new job. Also, target group consists
of employees who moved to new city.
- Age bracket is 23 – 30 and mostly unmarried.
- Housing is very costly in main cities in Norway.
- Has little amount to save.

IDEA B1 (Build one mobile app for sharing home, spend management and tool for common goal and
investment)

Bank can build a mobile app which will offer a common place where users can share apartments for
temporary basis (1 to 6 months). As also, provision will be there to share other lifestyle utilities among a
group.

The app will have utility where user can maintain their spending details. Through the spend management
utility bank will be able to guide how to save money. User will be given offers or advises where similar
services/products are available in lesser price. There will be provisions where two consumers will have a
common goal and saving towards it. Examples can be room partners setup a common goal to get a couch at
home and saving towards it or a husband and wife planning for grand Christmas celebration and saving
towards it.
App will give the best suitable offers for spend management tool. App through its recommendation engine
will suggest most applicable funds/investment ideas according to user’s need, goal and consumer’s
segment preference.

Finally app will have one utility where user can invest saved money in applicable mutual fund through SIP.
The ideas are originated from WeLive site and Simple banking (simple.com).

III. Examples:-
Following are instances where following applications are implemented in various industries and sectors.

IDEA A1 (Display of lottery number in digital screen and build Risk Profile around it)

- Display of lottery number is used by Japanese apparel company in fast moving picture
campaign.
https://www.insideretail.com.au/blog/2016/05/25/uniqlo-trials-digital-marketing-campaign/

IDEA A2 (Introduction of Chatbot and Robo-advisor in bank’s online application)

- Chatbot and robo-advisor are getting popular in various wealth management sites.

IDEA A3 (Gamification in bank’s online application)

- HDFC securities has same virtual game concept called Millionaires.

Hdfcsec.com

IDEA B1 (Build one mobile app for sharing home and spend management)

- WeLive is one mobile app which use same concept of apartment and utilities sharing in New
York and Washington DC.
https://en.wikipedia.org/wiki/WeWork

Reference: - https://www.singlegrain.com/digital-marketing/10-companies-doing-online-marketing-right/
- Simple.com is banking service provider based out Oregon, USA and part of BBVA group. The
bank provides opportunity of schedule automatic savings on daily basis. The services also
include feature to set common goal among number of customers and save/invest towards it.
Reference - https://en.wikipedia.org/wiki/Simple_(bank)
https://www.simple.com/
Following is screenshot of chatbot working in natural language processing in Smart Assistant in Travel
advisory. Product advises comes through machine learning algorithm.

Ref: - https://www.tripoto.com/travel-assistant

Following is example where Robo-advisor integrated in Morgan Stanley Wealth Management site.

Ref: https://www.youtube.com/watch?v=ITce-ocrLmY&feature=youtu.be

Following is the example where goals can be shared and achieved together. Husband and wife can jointly own a small goal. And
roomies also can save small amounts to achieve something.
Reference: - https://www.simple.com/shared-account

IV. Recommended Technology

IDEA A1 (Display of lottery number in digital screen and build RiskProfile around it)

- Responsive UI design for application

IDEA A2 (Introduction of Chatbot and Robo-advisor in bank’s online application)

- Artificial intelligence and machine learning for recommendation engine.

IDEA A3 (Gamification in bank’s online application)

- Responsive UI design for application

IDEA A4 (Build personalized marketing slide as per consumer preference)

- Social analytics, Predictive analytics and sentiment analytics

IDEA B1 (Build one mobile app for sharing home and spend management)

- Location tracking app and mobile app design

V. Assumptions
- Bank has access to consumer’s personal information including social and customer segment.
- Bank has authority to use consumer’s personal information (related to social channel
behaviour) and personal preferences for marketing.
- Bank can collaborate with third party for home related information required to supply for app
- Bank has authority to offer value added services viz. home rental, utility sharing etc.
- Bank has authority to offer retail customer wealth management products
- Baking rule to allow two consumer to have a common financial goal and invest together to
achieve it
VI. Expected Benefits
IDEA A1 (Display of lottery number in digital screen and build RiskProfile around it)

- Customer has affinity towards lottery so will be easy connection with numbers. Use random
numbers to appeal to customers.
- Introduction to customer about wealth management concept and suitable products resulting in
giving leads to bank about probable sales.

IDEA A2 (Introduction of Chatbot and Robo-advisor in bank’s online application)

 - Automated product push to customer as per customer's need.
- More customer involvement through Chatbot.

IDEA A3 (Gamification in bank’s online application)

- Customer involvement with product and brand

- Markteting through word of mouth as customer will create own group for gamification
- More brand recall and involvement with product will lead to more sales and more loyalty

IDEA A4 (Build personalized marketing slide as per consumer preference)

- Better marketing through personalized marketing

IDEA B1 (Build one mobile app for sharing home and spend management)

- Providing platform to customers for life events

- Touching an untapped territory of customer segment
- Better brand recall since branch is toughing customer's life events

Following is an illustration where how as-is solution can be translated to-be solution.

Gamified MF/Equity
products
MF/Equity
Chatbox -
RoboAdvisor
Savings
Online Banking-
Online Banking Savings
Savings/MF

AS IS SOLUTION PROPOSED SOLUTION

User Initiated Flow

System Initiated Flow

VII. IMPLEMENTATION LOGIC

Following is a proposed model how predictive analytics can be used to give recommendation regarding
mutual funds.
 Bank Application
Predictive
Analytics

Desktop

Bank App
Recommendation
Customer
User Action Engine
Social
Behaviour User Profile
Mobile
Segment Social
Profile

Machine Learning

VIII. Wireframes
Following is a proposed illustration where Chatbot will open automatically when customer trying to open
Fixed Deposit through online channel. Chatbot will give alternative proposal investment in mutual fund.

Short Term MF

Click Investment
Hi
Appreciate your business
with us
Will you like to look at our
Mutual Fund?
Question for me?

Image Courtesy: - HDFC bank Fixed Deposit Screen

Following are few snapshots how Spend Management and Sharing home utility tools like following. The
concept is very similar to WeLive.com.
 Deals
Foods
Sharing Sharing Housing
Home Utility Shopping

Tveita | 2 BHK SHARE |

800 Euro
Spend SIP ON
Manage MF Stovner| 2 BHK | 1200
Euro

Get Spend Offers Sagene | Studio| 1000

Euro

Goal

Back Home – Dec’17

Weekly Saving – 50€

New Play box

Find deal nearby

Adventure Trip - Friends

Set common goal –

invest short term liquid
Following are two marketing slides which can be pushed to customer in social channel through
personalized marketing. User hobbies and preferences can be analysed from Social Analytics and other IoT
channels. The future needs can be ascertained through customer segment analysis and predictive analytics.
Personalized commercial can be build according to customer preference and predictive analytics. These
commercials can have better brand heart and mind share.

Family vacation on Disneyland – dream

today

Realize on 2025 winter!

MF SIP starting on 2017 autumn

Picture Courtesy: - http://cdn.wonderfulengineering.com/wp-content/uploads/2015/12/florida-wallpaper-29.jpg

Why not cross country skiing on 2022

Invest monthly in SIP on our Nordea 1 -

Norwegian Equity Fund BP NOK

Picture Courtesy: - http://www.connectum.no/norway/

IX. Team Details

Prasenjit Roychoudhury|136951|CITI|BFS
prasenjit.roychoudhury@tcs.com
Debraj Pal|200690|KOLKATA-RI|CTO
debraj.pal@tcs.com