Goals101: Personalized, Addictive & Delightful Banking

Do Banks communicate in a boring way? Do they send personalised offers or are sent in bulk to all? Most of them continue to stay boring and impersonal! Would you like your bank to bring you their offers & products in real time – and sent you only if personalised and relevant to you? If the answer is ‘Yes’ – call up your bank and ask them to talk to Goals101!

Why does only Amazon, Facebook & Google bring real time intelligence and relevance to their customers? Banks can do more and better. Goals101 makes Banks communicate with their customers like never before. They bring in one of the most intelligent products for the banking industry (as per Indian consumer spend patters) which incorporates a persona making & recommendation engine for Bank’s Retail Customers (& a recommendation engine for Bank’s Merchants), specially Credit Card, Savings & Wallet Customers. The company offers this as an end to end product, hence also bring in 25000+ offers, from merchants across all categories. This leads to more relevance for Bank’s end customer, thus increasing engagement, spends and leads generation for the bank.

Goals101 is a FinTech venture intending to enhance the banking customer experience. Their entire team understands only one thing: “how to bring about ‘enhanced relevance’ to the banking customer”. The backend engine running on Machine Learning & Artificial Intelligence Algorithms would automatically suggest relevant financial and non-financial offers to the banking customer at the right time and place only.

Leaps taken by Visham to reach the Cliff

Goals101 team is formulated with Serial Entrepreneurs, Senior ex-Bankers, Senior Technologists, Digital Experts & leaders from the Alliances Industry. Visham Sikand, Founder & CEO of Goals101 had two super successful entrepreneurial setups and in his last role was India Chairman to the Forbes 49, US Headquartered Insurance Co – Aetna Inc. He is an Harvard Business School Alum, Active Networker, featured across 100+ dailies including Forbes & Wall Street Journal, TEDx Speaker,  active Trekker & loves his tennis. Ishank Joshi, Co-founder at Goals101 is a wizard in Digital Marketing, Ad Sales & Partnerships, having received recognition and various awards from entire entrepreneurial eco-system; he has mentored more than 250 startups. Anshuman Pandey (a true Tech Wizard & the 3rd Co-founder), is a hands-on super brain from IIT-Kgp. He works at alarmingly fast speed, has clarity in thought, direction and loves using only the latest cutting edge tech.

Visham got this idea, as he himself has been a Banker (in Credit Cards) and understands the gap and challenges in a bank; while realising that the world is moving faster than the Banks, specially in India, where many other challenges stop them from being innovative. This led him to do a thorough research on fin-tech models across the globe and only then did he shortlist the exact product offering.

Overcoming Obstacles, and Paving Path for Achievement

  • Boot-strapping is challenging but keeps you focussed too.
  • Banks want to trust the big boys of the tech industry – even if those ‘big boys’ don’t deliver the real practical results! Most of them talk more and deliver in limited fashion. Any changes are so expensive that the bank gets stuck.
  • Integration with Banks is a Challenge, mainly with few of the old fashioned banks.
  • ‘Demonetisation’ has sapped out a lot of time of this Industry.
  • Lastly – the product challenges the roles of many in banks. So unless a visionary team member of that team allows progress, it gets stuck initially.

The team persisted & today Goals101 is proud to have finalised deals with 6 big banks in India. With lot of interest from middle-east and south-east asia, they head there next.

Digitization, a Key to be BFSI Trendsetter

India is moving towards digitization and the new age customers are using new devices such as smartphones, tablets, smart watches, etc. Also, the recent demonetisation and more push towards cashless digital economy from Indian government has made India a hub for financial disruption.

Since, customers are rapidly moving towards digital channels the brands, banking, BFSI segments are now focusing more on digital mediums and it has become a primary channel for customer engagement. Now, you can engage with a new customer in a different manner & simultaneously engage with an existing customer in some other way. The age of spamming users is over and a new age of personalization has begun. We need to cater to each customer differently and digitization is playing a very important role in this direction. Digital engagement will be a key success metrics for leading brands in the BFSI segment.

Increase Lifetime Value of End Customers

Segmentation, Targeting, Attribution & the right Message are the 4 important pillars of a consumer marketing strategy. If one can target, segment users as per their history & other dynamic vectors, show the customers the correct message as per their need and finally attribute to a channel/medium which will lead to a delightful customer experience, it will help any company increase the lifetime value of its customers.

Strategy for Future

Goals101 are already the most intelligent & aggressive player in ‘Purchase Data Driven Marketing’, which is their other core offer. 6 Banks in India are exclusively partnering with them on this. They shall expand on this and bring 100,000 merchants on board for their bank partners by 2018. And also expansion to rest of Asia.

Source :- The 10 Fastest Growing BFSI Companies