Guest Lecture By Mr. Ketan Jain, Sales And Distribution Head, National Australia Bank
“Experience makes the difference for transformational organization, just being ‘Cheaper, Lighter, Faster’ isn’t enough” said Mr. Ketan Jain, Associate Director, Migrant & Expatriate Banking Head Sales & Distribution, NRI Services, India at National Australia Bank Limited. Mr. Jain was with the participants of IIM Indore, PGP Mumbai on Sunday, 6th March to interact on the topic “Digital Transformation, Marketing & Cross functional style of Management in Banking Sector”. He has over 20 years of experience in Consumer Banking across a wide variety of roles from sales & distribution to product & marketing as well as a stint in venture capital in India. As part of the Senior Leadership Team, he played several roles as India Head – Product Management, Chief Administrative Officer and Business Head for TASC Business Group. Prior to this, Mr. Jain has worked with HSBC, Bank of America and Terrafirma Realty (Venture Capital Fund).
Mr. Jain made the guest lecture very interactive by urging the participants to ask questions and also by asking them questions right from the beginning. He began the session by enunciating the importance of digital transformation in today’s world. We are moving towards digital identity; it will be the IP address that will have all the roles to play. He then gave the examples of banks such as HSBC and Deutsche Bank which are not able to handle technological advances like Google Wallet and Apple Wallet. He talked about the companies that challenged and are challenging the status quo. Paytm is one example whose number of transactions in one year are greater than all the debit and credit transactions in five years.
Mr. Jain exemplified the detrimental effects of lagging in technology and innovation. He talked about Sony that did not come out with MP3 almost 20 years back because it was apprehensive about its reverberation on its other products. In Mr. Jain’s words, “If cannibalization is the way, then go for it.” Apple follows this and has been successful till now. 27 business models have gone out of business due to iPhone’s innovative interfaces. Further, giving the example of Starbucks, he articulated that it is the experience that counts in today’s world. The companies, Mr. Ketan said, should deliver their brand promise. Towards the end of the session, Mr. Jain elaborated on what the companies in the digital space should aspire for and what the trust factors are.
The session was followed by questions from the participants. The participants found the lecture very informative. Mr. Jain kept the participants engrossed in the lecture through his interactive style.