On 4th November 2015, Herald Logic took another step in evangelising Channel Management in the Indian market.
The occasion was the webinar on “Financial Services Distribution: Challenges & Emerging Opportunities”.
In addition to our partners, the Webinar was also attended by distribution professionals in the BFSI sector. It was also interesting to see interest from intermediaries serving the BFSI space.
The Webinar was led by Mr Milind Kharosekar, CEO of Herald Logic and Dr. Ram Ramdas, Co-Founder of Herald Logic. Mr K Venkatesh, Chief Executive Officer of IFMR Rural Channels and Services was the Guest Speaker.
The Financial Services Distribution webinar highlights were as under:-
1) Financial Services Distribution: Big Changes Ahead!
In this leg of the session, Mr Milind Kharosekar emphasised to the audience that the ‘WhatsApp moment for financial services’ could be real.
“WhatsApp moment for banks coming ….” – Nandan Nilekani
A strict definition of ‘financial services’ company was disappearing. Incumbents were getting further from their customers, owing to disintermediation. Technology companies especially mobile telephony ones were moving into the financial services ecosystem.
2) The Insider View of ‘Challenges and Opportunities’
Mr K Venkatesh stressed that the impact of the mobile will be far reaching. The BFSI sector is still to see mobile’s maximum impact. Technology aided distribution will become the norm and eventually get commoditised. The status quo is slow, outdated and inflexible. Institutions recognize it.
Here is the Financial Services Distribution recording
3) The Channel Management Imperative
Dr Ram Ramdas concluded by underlining the imperative of Channel Management in this changing business landscape. Live examples in Banking, Financial Services and Insurance were shared that highlighted how the BFSI sector can improve sales performance and reduce a cost of sales.
Since rookie agent management is critical to channel productivity, features of the Herald Logic channel management software product were signalled to address the problem of ‘agent infant mortality’.
Questions from the audience were dominated by the future relevance of distribution, and how regulators (Government) are dealing with the increasing penetration of technology in distribution.
The questions did pop some new ideas for future webinars.