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MoEngage empowers marketers and product owners with insights into customer behavior and the ability to act on those insights to engage customers across the web, mobile, email, social, and messaging channels. As a part of the partnership, Induslnd Bank will leverage MoEngage's technology platform to deliver 'Gen Z' digital banking experience to its customers. The bank will be able to curate personalized content & recommendations across channels where the customers spend most of their time. Charu Mathur, digital banking & strategy head of IndusInd Bank said, “IndusInd Bank has always been at the helm of driving responsive innovation; with this factor at the core, we have on-boarded MoEngage as it has the ability to drive personalization through real-time and actionable insights. This novel and unique insights-led approach gives the Bank the ability to engage with its customer meaningfully while cutting down the time to market to half compared to other customer engagement platforms.” Soumitra Sen, consumer banking & marketing head of IndusInd Bank added “IndusInd Bank's engagement with MoEngage is designed to achieve strategic outcomes that support our vision of being the most preferred bank for our customers by providing relevant and personalized financial recommendations. With the change in lifestyle, we have observed a substantial change in digital banking expectations and we as a Bank are poised to deliver a rich experience that our customers deserve.” On 4 July 2022, the bank announced that its net advances stood at Rs 2,49,541 crore as of 30 June 2022, rising 18% over Rs 2,10,727 crore as of 30 June 2021. The bank's net advances grew 4% last quarter over Rs 2,39,052 crore as of 31 March 2022. CASA ratio improved to 43.2% as of 30 June 2022 compared with 42.1% as of 30 June 2021 and 42.8% as of 31 March 2022. IndusInd Bank caters to both consumer and corporate customers. As of 31 March 2022, the bank's distribution network included 2,265 branches/banking outlets and 2,767 onsite and offsite ATMs. The bank reported 55.4% rise in standalone net profit to Rs 1,361.37 crore on an 6.1% increase in total income to Rs 9,761.89 crore in Q4 FY22 over Q4 FY21. Powered by Capital Market - Live News
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