Kshitij Gupta, 37, recently upgraded his debit card to one that complemented his lifestyle. It came loaded with better offers and gave extra reward points on shopping, eating out, entertainment and so forth.
Rini Roy, 29, who was tired of her bank’s poor customer care services, switched over to another bank to get personalised and reliable assistance when required.
Gupta and Roy are among an increasing number of job holders seeking banking options more suited to their lifestyles. Increasingly, the salaried class, many of whom belong to the millennial cohort (1981-1996), are looking for hassle-free banking services that promise a seamless journey.
Today, these professionals, especially those with larger disposable incomes, prefer conducting banking activities with minimal fuss — using mobile apps for money transfers, checking financial statements on the go, opening investment accounts effortlessly.
They also seek easy-to-understand financial advice that can help them grow their savings. At the same time, they want banks to offer them complimentary services and access to premium amenities like lounges at domestic and international airports.
Their expectations cannot be ignored, considering many of them are millennials — the fastest growing demographic in India.
As per experts in the banking industry, these working professionals rely heavily on technology for managing their day-to-day operations. They are the ‘WhatsApp generation’ who prefer instant solutions over messages. And banks will have to meet their ever-evolving demands and offer them solid solutions.
Banks are, therefore, strategising products and services to grab their attention. They are building micro-segmented products, immersive platforms and ensuring a ‘wow’ factor in their offerings by analysing data and understanding their aspirations.
Yes Bank, for instance, studied the data and re-energised its Yes Premia programme to give priority servicing, exclusive privileges, powerful digital solutions, doorstep banking services and a robust family banking service to its customers from the salaried classes.
Under Yes Premia, the bank also ensured a dedicated relationship manager, waiver of transaction charges on a wide range of banking services, unlimited ATM transactions, and more.
Taking cognisance of the grand aspirations of the salaried individuals, Yes Bank has launched a complimentary Yes Premia Emerge Debit Card with benefits up to Rs 50,000, a Times Prime annual membership that will take care of shopping, entertainment, dining out or home delivery.
In short, working professionals, keen to maximise their leisure time off work, want a single-point platform where they can transact seamlessly, connect with wealth managers, save diligently and get rewards on their spending. Here, Yes Premia not only enables the aspiring class to conduct banking activities effortlessly but also offers dedicated and differentiated experiences matching their lifestyle.
This is a partnered post.
