Customers on Cloud Nine

DQI Bureau
New Update

In the banking and financial domain, IT is employed for

communicationconnectivity and business process engineering. Very interestingly,

with the penetration of technology in every sphere of day-to-day interaction,

tech savvy customers are looking forward to similar experience in the financial

sector, wherein the demand for critical information is easily registered and

catered to. Information technology assists in custom tailored product

development, market infrastructure along with deployment of techniques for risk

monitoring and to reach out to distant markets. The ability to dissipate

information accurately and in a secured way is essential to users of financial



Heavily dependent on IT and communication technologies for its operations,

Axis Asset Management currently operates out of sixty-two locations with more

than 250 users connected to central servers at its Nariman Point head office.

The infrastructure includes secure firewall and remote VPN access, which have

done away with the need for costly long distance leased lines and support costs.

Moreover, VPN helps overcoming scalability by tapping the network capability

that is easily available. Apart from VPN, firewall is a very critical part of

the IT operations in financial sectors, since it involves sourcing and

maintaining critical information pertaining to the finances of clients. The

firewall monitors sensitive information sent through emails as VPN involve

tapping of public networks. Firewall monitors outbound data traffic, and at the

same time, bars access to sources on external networks.

Tejas Shah, assistant vice

president, IT, Axis Asset Management

Cloud based CRM applications offer

real-time visibility into the sales status

In addition, the company has data center operations as a part of the IT

operations of the company. In order to ensure business continuity, companies

rely on IT for their business operations. This calls for an infrastructure

framework that minimizes disruption and loss of information.


Retaining the Customer

In a dynamic market, success is more or less co-related to customer

retention. Constant interaction with intermediaries and end user customers in

order to develop personalized relationships based on their needs helps in

securing loyalties of the customers. It is critical to store customer related

information and accord treatment depending on the values. The increasing need to

address ever increasing customer requirements of price and service has led to

the implementation of CRM in financial services.

"Axis Asset Management is running CRM over cloud with a maximum of 99.9%

uptime. CRM is shifting toward cloud computing. Financial companies can leverage

web based cloud applications to run their CRM, and in turn, get a high return on

their investment. Cloud based CRM applications offer real-time visibility into

the sales status, thereby helping the sales personnels to interpret data with

substantial citations," says Tejas Shah, assistant vice president, IT, Axis

Asset Management.

In the financial domain, cloud based CRM helps the marketing department to

track leads and sources, then route leads to the sales people. This helps to

analyze what is working and what is not.


Green Touch to Finance

The organization has come up with innovative ways of saving energy such as

switching off unwanted IT systems or peripherals when not required. Newsletters

and market information are sent to investors and distributors via email rather

than sending hard copies. The Axis Bank Financial Advisory team offers a unique

One Page Portfolio Snapshot report across investment products to the customers

investing in mutual funds. This report can be viewed through the companys

Internet banking module. This is a part of another green IT initiative to

introduce paperless operations in business.

Atreyee Datta