BFSI - India

How communication is viewed at India’s largest BFSI companies

  While external communication is important, emphasis on
training is usually for internal communication purposes

Major  Everything is viewed from the lens of time and money. Bottom
line is king
takeaways  A lot of BFSI communication happens in vernacular languages,
a practice which has to be changed
  While employee numbers are subjective, BFSI companies
broadly tend to have 60% of employee strength in sales and the
remaining 40% in operations
 There can be a slight variance in the aforementioned numbers,
Employee depending on how the organization is structured.
strength  The variance is due to the fact that there are two types of
operations teams – business operations and support operations.
In some cases, they are classified with revenue teams and in the
remaining cases they are classified with core operations teams.
  Most of the sales in these categories tend to happen in the

ICP –
local/vernacular language(s)
 80% of sales – vernacular languages, 20% - English
Sales(CASA,  Main issue with these sales reps is a lack of confidence will
CC, Policy, communicating with bank managers and especially with cluster

Demat) managers
 Metric to measure success of Vani – Sales conversion rates
  Banks are usually happy with their on the ground recovery
teams. They feel that less than 30% of their B2C recovery
employees need to be trained/upskilled
 It is the B2B/corporate recovery teams that require training.

ICP - Recovery These employees are middle management employees, who are
auditors, CFA,CA qualified managers
 Metric to measure Vani’s success – Collection conversion rates,
debt restructuring rates in B2B collections
  Training for these people is desperately required. A lot of them
miss out on promotion opportunities due to lack of confidence
in interacting with senior management
 Training for branch managers will be required for branches that
ICP – Branch are in Metro, Tier 1 and Tier 2 cities. The rest of the banking
system runs on vernacular languages. Training a tier 2/3 branch
Managers manager will give only incremental gains
 Metric to measure Vani’s success – Business conversion ratio,
happiness index, customer feedback
  Cluster Heads that have come up through the system require
communication training. The employees who come through
lateral entry tend to be good enough
 Each cluster head manages 20 branches at the maximum. Thus,
ICP – Cluster a large city like Bangalore will have 8-9 cluster heads

Heads  Communication training is required as cluster heads interact a

lot with senior management
 Metric to measure Vani’s success – Happiness Index, branch
manager feedback, customer feedback
  Customer support is usually a mix of in house and outsourced
 This is usually in the ratio of 80% outsourced and 20% in
house, but is augmented by the company based on prevailing

ICP – Customer needs

Support  This is one of the ICPs whom BFSI companies are desperate to
train. They have significantly large budgets dedicated to
training support teams
 Metric to measure Vani’s success – Resolution rate
  Veteran CASA sales people tend to be promoted to RM
positions

ICP –  In most BFSI companies, for every 4 sales people, there is 1

Relationship RM.
 Their training usually comes under the CASA ambit.
Managers  Metric to measure Vani’s success – Cross-sell/Upsell
conversion rate(s)
  Internal communication is paramount for operations oriented
employees
 A lack of finesse is observed, because of which they are not

ICP - taken seriously

 Upskilling events are done regularly, but ops employees rarely
Operations take them seriously
 Metric to measure Vani’s success - TBD