The much-in-talks private lender RBL Bank Ltd (NS: RATB ) has announced to enter into a strategic collaboration with Google (NASDAQ: GOOGL ) on January 10 to further improve the lender’s customer experience strategy.
Through this partnership, RBL Bank’s management of customer data and analytics will improve, leading to better cross-selling inside the lender’s large customer base, thereby reducing customer acquisition costs significantly.
Moreover, RBL Bank will make use of Google Cloud’s secure and scalable infrastructure to onboard customers onto its platform seamlessly.
It will also be the technology foundation for a powerful product-agnostic customer acquisition engine that delivers more inclusive access to multiple products such as payments, deposits, insurance, credit card, investments, secured loans and more, stated a news report.
Leveraging Google’s wide range of solutions will enable RBL Bank to precisely scale its services and platform to meet local requirements.
Shares of RBL Bank were trading 2.52% higher at Rs 138.5 apiece at 10:15 am on Monday.
Comment from Bank
Surinder Chawla, “This is an important strategic milestone in our digital journey. Advancing our innovation agenda and building an optimized and agile data platform to serve our existing and prospective customers is one of our critical business priorities.
Working with Google, we will augment our customer targeting with solutions such as Google Ads, and explore co-innovation opportunities with platforms like Google Pay to drive user engagement and build new digital offerings.”
Comment from Google
Bikram Bedi, “Cloud technologies enable banks to offer their customers a fast, secure and intuitive experience.
We are thrilled to help RBL Bank advance their digital roadmap and harness the power of the vast solutions Google has to offer to create and deliver valuable new services to their rapidly growing customer base.”
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