NAME:S.

JAYAGOKUL
REG NO:19BCC0020

PRINCIPLES OF MARKETING
DIGITAL ASSIGNMENT 3
Analyse the recent technology used by the company in marketing
the product- Social media, Internet marketing, Webpage design.
(Banking-SBI)

As the digital economy flourishes, SBI is embracing and evolving a

digital business model and has grown its technology and channel platforms

proportionately.

India is rapidly advancing towards becoming a first world nation, and today, it is
focusing on new opportunities such as Digital India, Smart Cities, Bharat Net etc.
As a result, Indians are increasingly using the internet, social media and their
smart phones to do their banking. They are increasingly demanding an end-to-end
experience and greater consistency when doing their banking via their mobile,
iPad, or even a PC. Similarly, corporates, SMEs and public institutions are
leveraging the Internet to conduct their business more efficiently and
economically. New “disruptive” businesses are altogether re-defining how people
go about doing routine chores. Not to be left behind, millions from rural India
have become more financially literate and are using the formal banking system to
have a more direct relationship with their money and social benefits. With an
economy that is growing steadily and surely, India is certainly on the Go!

As the largest bank in India, SBI is integral to thousands of commercial entities

and millions of personal lives. As the digital economy flourishes, SBI has grown
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its technology and channel platforms proportionately, and in some cases, ahead of
the curve. At SBI, banking has been brought to fingertips of customers. They
realise that modern banking is about enabling our customers to have a meaningful
relationship with their money. They wish to transact more quickly, accurately and
efficiently than ever before. And we have always evolved with the times to
embrace new consumer attitudes and be aligned as a “Smart” Bank with the
service levels that an “India on the Go!” demands.

Going forward, we foresee an unprecedented growth in data, driven by the latest

trends in mobility, social media, cloud and analytics. At SBI, we are embracing
and evolving a digital business model and with an eye on the future. The various
digital platforms we have created, position us well to set new benchmarks and to
keep our customers always connected, always on. As a fully committed adopters
of the digital medium, we are confident of remaining highly competitive, relevant
and well positioned trend setter for the industry.

SBI WEBPAGE
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1. Electronic cheques -Electronic cheques works same as paper cheques but
payment transaction can be done through digital format.XML document provide
mechanism to authenticate parties to make transactions. In e-cheques signatures are
accompanied by bank –issued certificates which tie with signer’s key to bank
account. Nowdays, it is very commonly using by everyone .many of transferring
amount transaction can be done through electronic cheques. E-cheques make easy
transfer of payments to customers which are easily available to make payment for
online purchases. It reduces chance to cheque bouncing banks always give
awareness about their account details when any transaction can be done.
2. Real time gross settlement -Real time gross settlement is a fund transfer system.
Settlement in “real time” means the transactions happen almost immediately “gross
settlement “means transaction is settled one to one basis unlike national electronic
fund transfer (NEFT). Where the transaction happen in bulk at a given point in
time during the day. This is mainly used for transaction which high in value and
need to be cleared immediately. In this the bank that receives money has to credit
the amount in the account with in 30 min after receiving it. Services of RTG’s
window for transaction are available to banks from 9.00 am to 4.30 p.m in a week
and 9.00 am to 4.00 pm in Saturday’s for settlement at from RBI’s end.
3. Electronic fund transfer- It is a system of transforming money from one bank
account direct to another without any paper money charging hands. Direct deposits
are one of the most widely used EFT program. It refers transfer of funds initiated
through on electronic terminal, including credit cards, ATM, and point of sale
transactions. It used for both credit transfer and debit transfer. Electronic fund
transfer transactions are processed through the automated clearing house network.
The growing popularity of EFT for online bill payment in paying the way for
paperless universe where checks, stamps, envelops, and paper bills are obsolete.
Through EFT administrative costs should be reduced, increase efficiency,
simplified bookkeeping and greater security.
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4. Point of sale (POS)- Making a payment in exchange of for goods and for retail
transaction point of sale is useful. The transaction usually can be done by using
debit and credit cards. Since 1990 POS transaction had become very common and
it is using overall the world. To complete pose transaction cards usually
authenticated with a pin number. The information transmitted via the pin number
travel through ATM network until it reaches the bank it is used to register products
by a bar scanner and to read the descriptions and price on the tag of every time. All
the activities can be done automatically like finding the total balance deducts any
discounts and applies the sales tax and sending customer information to marketing
database and transactions record to an investors system. Once payment has been
credited to the account the post terminal check of validity of cards and connects to
bank.
5. Bio- metric authentication -For the purpose of security the bio-metric
authentication places a major role. Now a day’s many organisations are
implementing bio-metric authentication. It works comparing two sets of data

Owner of the device

Visitor of device
Both are one and same gives access to person.
There are different types of scanners

Finger print scanner

Eye scanner

Speaker reorganization
6. Financial technology firms -Financial technology is the new technology and
innovation that aims to compete with traditional financial methods in the delivery
of financial services. The main aim of fin-tech is to provide technology and finance
to start-ups and to enhance the usage of financial services for existing financial
companies. For the automation of insurance, trading and risk management. Fin-
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tech is used for firms. SBI Banks are collaborating with fine-tech firms to build an
environment that mixtures innovation of customers. The main key purpose of fin-
tech to provide lack of leadership support, regulatory budgets, cultural and
infrastructure limitations are hampering in house innovation bank.
7. SBI's YONO service - SBI wants its customers to get rid of debit cards for cash
withdrawal and payments. SBI has a service called YONO (You Only Need One)
that essentially can help SBI customers go around without debit cards .SBI's YONO
service lets members withdraw cash from an ATM without a debit card. SBI wants
to achieve a card-less transaction system within five years. After all, in a tech-savvy
age where digital banking is the future, the debit card seems like an odd choice to
carry out transactions. And it is easy to lose it. This technology can make
transactions a lot easy. SBI introduced this service back in 2017 and has been
pushing it to its consumers ever since to make life easy. And now, according to a
fresh report from PTI, SBI wants its customers to let go of their debit cards and
instead depend solely on its YONO service to get cash or make payments. That too
within a period of five years, which seems like a tall order given that 90 crores of its
customers use debit cards.
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The YONO app will also help you deal with some of your SBI account-related
activities as well as online shopping. You can even make payments to merchants
with the YONO app. Right now, SBI wants its customers to adopt the YONO
service in order to digitalise the transaction process a step further. Most SBI
customers own a smart phone that always stays with the person and using the same
device to get cash or make payments makes more sense instead of carrying a plastic
debit card. That said, SBI says that the debit card will still stay as a stand-by
method for transactions. The card will be there for when the digital service is not
available.

An upgradation of technology banks are playing vital role in economic

development. Banking sector in India is resulting with increased growth in
customers. By providing innovative facilities of banks. The changes made by SBI
by using the technology are mostly focused on financial inclusion for expansion
into rural areas and bringing stability by boosting credit growth making banking
services near to the customer directly and reducing customer valuable time.