Kotak Mahindra Bank, the fourth largest Indian private sector bank by market capitalization which did well in the September quarter has kept its focus on mobile for quite some time. With the proliferation of mobiles in the country, the bank launched its banking app two years ago and six months prior to it the brokerage app was launched.

While the bank had been aggressive on the mobile front, Karthi Marshan, Executive Vice President & Head Group Marketing at Kotak Mahindra Bank is of the opinion that the bank was a little late on the mobile front. “As we launched the app, there was this 30% of audience that had never visited our online services who suddenly woke up as they saw Kotak being accessible via mobile,” Karthi shared on the big learning for the bank.

Smartphone penetration has been quite positive in India; the bank has taken this in its stride by continuously building interesting engagement activities for app users. So tomorrow when a user decides to choose or transact with a bank then Kotak should be in his mind informed Karthi on the various strategies the bank has been adopting on the mobile marketing front.

However, he is not sure if ads will work on the smaller devices. “The form factor of mobile limits a lot of things so I am not sure if advertisement will work on mobile. While I am skeptical but still I am keeping an open mind and ready to learn.”

In an earlier interaction Karthi spoke extensively about Jifi - a first-of-its-kind fully integrated social bank account designed for the tech-savvy socially connected generation of today. Jifi integrates social media platforms like Twitter and Facebook with mainstream banking for secure and seamless on-the-go information.

In this video conversation Karthi shares his thoughts on how the bank is working on the mobile front:

Prasant Naidu

Founder and Editor at Lighthouse Insights.

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