Check How A Leading Private Indian Bank Expanded Its Business with Nexizo

Company

One of the leading private sector banks in India, it is known for its superior customer service and technologically advanced financial solutions. The bank has been in existence for more than 3 decades and has now become a very significant player in the Indian banking scene across urban and rural both. Offering a wide range of banking and financial services across current accounts, loan, wealth management and investment banking to its retail, corporate and institutional customers, It also offers treasury operations including foreign exchange, derivatives trading and investment in securities. Their customer Centric approach has made them adopt digital transformation and also inculcate sustainability practices.

However they have been only stuck with the conventional industry sectors that had been going on from the past many years. They were struggling to expand and foray into newer industry sectors like engineering, procurement and construction. They wanted to be a part of the fast growing sectors of construction, infrastructure and railways and offer working capital loans and bank guarantees to the companies participating or bidding in such projects; but weren’t managing to get any inroads for the same. So they started to look for a partner to help them get inroads into these newer industry sectors and thereby grow their business.

Learn how Nexizo helped this leading private Indian Bank expand their business across new sectors

Challenge

The sales team of this leading private Indian bank has been trying to foray into these newer sectors of engineering, procurement and construction, but haven’t managed anything substantial even after putting in a lot of time and effort. Their marketing team would go through multiple number of company/business profiles who were part of engineering, procurement or construction sector tenders; but it wasn’t able to pull very relevant information and thereby not able to give the boost to their sales team with relevant leads which overall was making it more difficult for the entire team to break through. They were not able to solve it the conventional way.

Solution

When the leading private Indian Banks marketing team connected with Nexizo team and shared their challenge; Nexizo had the solution in mind. Nexizo’s AI powered SaaS platform uses AL, ML & NLP and scans through its tender repository of over 50 million+ tender documents sourced from across 16K+ authorities and 80K+ sources, and converts into single schema using 52+ categories, and 50+ languages so that SMEs can use that information to get off-the-shelf decision grade data. Nexizo not only structures all of this data, but also adds a layer of enrichment with further insights, and based on client requirements match the data and provide a custom solution. Not only restricted to providing customized recommendations of tender/buyer feeds and in-depth analysis on each, they also offer custom integration like API integrations for the clients if the client's technology team is equipped with the same. Now the Bank’s marketing team were looking for the business/companies who were participating or bidding in government tenders for highway construction, municipality, and railways, that means covering 3 main categories - engineering, procurement and construction. For these specific keywords, the Bank wanted business or company profiles further having specific details of underwriting parameters, open charges - current loans, their credit rating, contact details of the director and the above positions, total income, net profits & loss of the selected profiles, profiles in given state and cities with head office addresses.

With Nexizo’s customized solution, the leading private Indian bank started getting profiles (with segregation of Pvt. Ltd & Ltd.) through daily update feeds of the latest government tenders. It helped the Bank’s marketing team to save a lot of time and effort of expelling thousands of profiles manually. Furthermore, all of this data was then scrubbed and mapped into existing funnels of their respective branches. Now as the branches of this leading private Indian bank have access to full information about the company’s financial status and right contact person information etc., they can pursue these leads with absolute confidence and clarity on the prospect clients need on working capital loan and bank guarantee.

Benefits for the leading private Indian Bank

Nexizo’s approach to solving this leading private Indian bank’s challenge of getting the most relevant and accurate data feeds, comes from the outlook that they believe every client’s problem is different and hence one size fits all solution is not the way to operate. Nexizos key strength is in offering customized solutions, but the power of it is derived from the modular AI/ML powered platform. The bank now has a sharper focus in terms of sales leads with end-to-end visibility of the sales leads. This has built a brand new acquisition channel for the central marketing team and the bank has grown its business by 15% by capturing additional markets.