Offering New-Age Banking Experience: Sukesh Jain

Sukesh Jain, Vice President, Enterprise Business Division, Samsung India

Samsung can help BFSI sector meet the growing demands of digitally-savvy customers by providing the ‘New Finance Experience’, says Sukesh Jain, Vice President, Enterprise Business Division, Samsung India, in conversation with Souvik Goswami of Elets News Network (ENN)

Give us an overview of Samsung’s operations in the BFSI sector.

Samsung Enterprise Business caters to the B2B customers globally with a vast portfolio of products like smartphones and tablets. Besides, the company is also known for professional displays, printers, memory and system air conditioning. We provide smart offerings encompassing these devices and solutions tailor-made for all business needs, solutions that help you move information efficiently and securely, solutions that integrate technology with relevant industries for a smarter ecosystem and facilitate necessary collaboration.

BFSI is one of our focussed industry verticals, with dedicated teams working on providing banking and insurance institutions with an integrated, multi-channel and interactive experience that appeal to today’s empowered customers.

Samsung can help the BFSI sector meet the growing demands of digitally-savvy customers by providing a ‘New Finance Experience’, wherein branch experience can be enhanced with digital services, work efficiency and operations can be improved with digital solutions, and sales representatives in the field can be empowered with secure mobile solutions like Samsung KNOX for secure access to documents while on move.

What kind of opportunities India offers for Samsung with regard to the BFSI sector?

Increasingly, customers are demanding convenience and flexibility for any kind of services they consume. Even for banking, they prefer to have services at a time and place convenient to them. Rising consumer aspirations, emergence of new private banks and government’s push to financial inclusion are driving banking services to Class B and C cities and beyond. In fact, India is undergoing a digital revolution.

We at Samsung believe that these are powerful trends and we are uniquely positioned as a leading consumer brand and technology company to offer financial institutions end-to-end devices and solution offerings to get that first mover advantage.

Shed some light on Samsung’s solutions and services for the banking industry.

Samsung works on multiple fronts with its banking customers to provide new-age services to customers, be it in-branch services or mobile-based banking operations.

For in-branch services, Samsung offers a digital and customer-centric experience with the help of our interactive professional displays, where customers can acquire information on various products, loan rates and special offers at Samsung interactive kiosks, run hypothetical portfolio simulations or seek financial advice remotely through a subject matter expert via video conferencing. This brings alive the concept of digital and self-service branches driving down cost of operations, and offers an engaging experience to the branch customers.

With the current thrust on financial inclusion, Samsung has launched its ‘Chhota ATM’ or ‘Micro ATM’, which can be used to serve the rural population by bringing banking services to their doorstep through a Samsung tablet, handheld printer and scanner.

For sales staff constantly out there in the field, we have solutions on mobile devices that make them more productive and efficient. For example, our eKYC solution helps financial institutions capture, store and process information faster and simplify procedures for customers. Lengthy and time-consuming procedures like Aadhaar authentication, verification of proof of identity and proof of address can now be made shorter and simpler with the help of innovative technology. Another solution is the Samsung e-Brochure, where a relationship manager can find customer information on a tablet on-the-go and prepare a proposal for him.

On printing front, we have certain unique offerings like Samsung SecuThru™ — a secure solution that provides a safe printing environment for handling of confidential documents by ensuring that only authorised users have access to documents at the point of print.

Also, being Samsung, one of our major advantages is unparalleled spread of service centres across the country.

Brief us about the eStamping project.

We have a solution called eStamping, which is a project of the Central Government run by the Stock Holding Corporation India Limited. It is a process to replace physical stamp paper/ franking by a secure electronics and computer-based application of stamping documents. SHCIL software works with original toners and specific Samsung printer models for securely sending the encrypted information for verification on SHCIL servers and printing the e-stamp papers with tamper-proof holographic images.

As a global company, how can Samsung bring the global best models/solutions to India?

We have a strong R&D setup in India which helps us customise global solutions as per our requirements here. Besides, it is our in-house solutions team that works directly with customers to build solutions locally.

Banking-on-the-go is stalked by inherent data risks. How can Samsung help address the issue?

As mobility becomes more prevalent, the risk on security and data breaches increases exponentially. Samsung has introduced KNOX, which is an Android-based solution specifically designed to enhance security of the current open source Android platform. KNOX offers Cloud-based Mobile Device and Application Management for all Android and iOS devices. For customers looking for even higher level of security, we have KNOX Workspace, which is a manageable, on-device mobile security solution that works at kernel level securing your data right from hardware layer and upwards, unlike regular MDMs.

How can Samsung fit into the scheme of things with regard to the Government of India’s new financial inclusion programme?

Samsung has a 3-point initiative to help the government realise the vision of ‘Bank Account for Every Indian’ —

  • Bringing banking services to every Indian: Samsung has integrated banking solutions in its devices and can offer a proposition from `4000 to 40,000 per device. Since most of these new accounts will be upcountry, we have set up the most comprehensive service network in the country for any service-related issues.
  • Innovation on integrated devices: We have integrated Aadhaar authentication with biometric capabilities of our devices. This reduces requirement to carry and service multiple devices.
  • Ecosystem profitability: To make the Business Correspondent (BC) ecosystem viable, it has to be profitable and capable to offer multiple services. Samsung devices with integrated solutions give this opportunity as they enter Class B & C cities. With these innovative solutions coupled with our extensive service network, Samsung focusses on increasing operational efficiencies, reducing cost of operation and, most importantly, provide an engaging customer experience.

We want to work with the banking industry to enable every Indian to have access to formal banking system and let them bank at their convenience with the help of technology

What is your vision for Samsung with respect to its India positioning?

We have a very simple vision…we want to work with the banking industry to enable every Indian to have access to formal banking system and let them bank at their convenience with the help of technology

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