Anup Bagchi on Digital Divide | Outlook Money Digital Dialogues - video Dailymotion

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Anup Bagchi, Managing Director and CEO, ICICI Securities speaks on the Digital Divide and how they are overcoming it. Outlook Money Digital Dialogues, March 2015.   Subscribe to Outlook Money for more: https://goo.gl/jHD2AA  #AnupBagchi #OutlookMoneyDigitalDialogues #DigitalDivide #OutlookMoney #Money #OutlookMagazine #OutlookGroup

Transcript

00:00 For the people on the other side of the digital divide, I feel that banking industry, you

00:13 know, through Jandan and through Aadhaar and all these things, you know, we have seen,

00:17 you know, in rural India, for example, you know, mobile penetration is very, very, very,

00:21 very good.

00:22 You know, they understand how to use mobile.

00:23 So we have never felt, in ICICI Direct also, we have never felt that, you know, customers

00:28 have a problem adopting two technologies, not one, okay.

00:32 They don't have.

00:33 But, you know, delivering in their vocabulary, delivering it in their own, you know, in a

00:37 vocabulary that they understand and making sure that there is, you know, customer literacy,

00:42 there is education, there is demo, there is demonstration, you know, will go a long way.

00:49 You know, many of the financial products may not be suited for, you know, large population

00:57 which are low per capita because they may not be able to take the volatility or the

01:01 fluctuations of the market.

01:03 But there are many other products which are well suited to them.

01:05 So I feel, you know, we should also stratify the product, you know, but from a digital

01:09 perspective make sure, because we can do that, you know, we can make sure that only such

01:13 kind of, you know, products are available.

01:16 But more importantly, I think the role that we have to play is make it simple, make the

01:20 communication simple, deliver value, communicate value, just making sure that and the product

01:25 is right so that we deliver to and we start to penetrate the other side of the digital

01:31 divide.

01:32 So with that I would want to, you know, end and, you know, I am around, so I am looking

01:37 forward for a very sort of, you know, scintillating discussion because it's not a new world,

01:43 it's just a different world.

01:46 It's not a new world.

01:48 I think the requirements, there are certain things which are timeless.

01:51 I think the need to making your life goals is timeless.

01:55 It has got nothing to do with digital, non-digital.

01:58 You know, the fact that I want safety, I don't want to get cheated.

02:03 So there are certain things which are timeless, okay, and there are certain other things which

02:09 are shifting very rapidly.

02:11 I feel that when we are building institutions, we should keep the focus, you know, very much

02:17 anchored in the timeless piece and deliver it through the newer and newer mediums which

02:22 are coming.

02:23 I think that will help everybody to create a win-win situation.

02:28 [Music]

Anup Bagchi on Digital Divide | Outlook Money Digital Dialogues

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