9 Indian banks figure in list of 40 Global Digital Champions
Blitz Bureau
NEW DELHI: As many as nine Indian banks have been recognised as Digital Champions among 40 banks that received the title globally, according to the Deloitte Global Digital Banking Maturity (DBM) survey released on April 23.
Since 2022, India’s DBM Index has grown from 43 per cent to 59 per cent, witnessing a 16-percentage-point (pp) increase. Indian banks have observed the most notable gains in day-to-day banking (+9.8 pp) and expanding relationships (+3.4 pp).
This change reflects Indian banks’ increasing digital maturity, showcasing their focus on customised advisory, rapid technological advancements, AI integration and beyond-banking offerings, the survey states.
In only its second year of participation, India has already asserted itself as a rising force among global powerhouses such as the US, China, Brazil, and the European Union. This year’s DBM survey extends its reach to 349 banks, spanning 44 key markets across six continents, the survey points out.
The Global DBM study, conducted biennially, assesses participants based on their retail banking maturity across three main channels: public websites, internet banking and mobile banking, which includes application messenger service-based banking.
Using mystery shopping methodology, the banks’ features were evaluated across six customer journey steps, namely information gathering, account opening, customer onboarding, day-to-day banking, expanding relationships, and end relationships.
The survey further highlights that Indian Digital Champions have outperformed their global peers across most journey steps, with India’s overall DBM Index exceeding the global average index by 20 pp. Indian Digital Champion banks scored significantly higher in information gathering, customer onboarding, day-today banking and overall user experience.
However, there is room for further improvement, especially across day-to-day banking and expanding relationships, focusing on areas such as personal finance management, conversational solutions for hyper-personalised support and product cross-selling, according to the report.
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