K Satyanarayana Raju, MD & CEO of Canara Bank, says 8% to 11% of the bank’s incremental growth in areas like current and savings accounts, and housing and vehicle loans is coming through data analytics and AI/ML initiatives. This number, he says, can potentially rise to 20-25%.These technologies, Raju says, are enabling scientific lead generation, which in turn is allowing the bank’s employees to spend more time on converting people into customers.“In the traditional system, we spend 80% of time on lead generation – we interact with individual customers, find out what they require, we ask them for recommendations of friends and relatives who might need our services. And we spend…
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Analytics, AI play big role in growth: Canara Bank CEO
