Digital Innovation Strategy
‘SBI Video Statement’, introduced by State Bank of India, offers audio-visual account statements sent to customers by email. It lets customers see recommendations, personalized messages (like birthday greetings) and transaction statements through an interactive medium. In addition to being an interactive platform, SBI Video Statement also gives an analytical view of account operations. It helps provide a systematic view of account statements, with videos and voice-overs embedded inside. It also aids customers to see product and service recommendations, along with transaction details. The customer experience is much improved as they now report to have a better understanding of their finances. In addition, the solution serves the function of a new channel and customer touch point, enabling SBI to cross-sell its products.