Kotak Mahindra Bank has appointed Bhavnish Lathia as Chief of Customer Experience to spearhead the customer service function for the bank.
In addition to this, Lathia will also oversee technology of the Consumer Bank, the lender said in a release on Thursday. Lathia has previously worked with Amazon across business functions and with US-based Valo Health as the chief product officer.
“I want to be able to build Kotak into the world’s most customer responsive organisation. We want to be able to invent experiences on behalf of customers such that we can make customer experience a strategic differentiator for the company,” Lathia told BusinessLine.
“Digital is a big focus, and we’re also looking at the branch experience and the customer support experience. Those are the three focus areas as a start,” he added.
Lathia said that customer needs are rapidly evolving, customer trust towards a brand is highly dependent on reliability, responsiveness and quality of customer experience they get from the service provider.
For this, Kotak Bank is looking to rethink its approach and become more customer-centric instead of product-centric. Further, instead of looking at technology as a support function, the bank is also looking to rely heavily on and leverage technology to use it as a disruptive function to drive growth, and reach and support customers.
The private sector has already made a set of investments that are underway, Lathia said, adding that the objective is to establish a leadership position, and become more agile, customer-focussed and technology-centric as an organisation.
“We have our own significant in-house technology investments. We are looking to scaling those up and opportunistically, will look at options to tie up with best in class players,” he said.
“Kotak Bank believes that strong customer relationships are crucial for our business growth and giving customers consistently delightful experiences,” Joint MD Dipak Gupta says in the release.
“We are confident that Bhavnish’s sharp customer focus, deep curiosity, and wealth of product, technology and operations knowledge will be an asset to the bank as it embarks on its next phase of growth,” he said.
Re-disseminated by The Asian Banker