SBI Card scaling its business with Cloud presence
SBI Card transforming entire HR ecosystem and Marketing with Oracle cloud
Citi Bank’s decision to quit Indian market has given an opportunity to the Indian players in the market who are looking to scale up their business. SBI card which is a subsidiary of State Bank of India, saw its share price jump by 7.5% by close of trade on 16-Apr-2021. SBI Card is considering itself as a strong contender in a situation where there are restrictions put by Reserve Bank of India on acquiring fresh customers by the foreign players.
Also, SBI is trying to revamp the way it operates for the last couple of years by offering higher flexibility, scalability and better collaboration efficiency. SBI card had collaborated with Oracle cloud to boost employee engagement and productivity.
Anujai Saxena, Sr. Vice President & Business Transition Leader, SBI Card mentioned in 2018 - “We chose Oracle Human Capital Management Cloud to achieve higher engagement and better collaboration among employees. We are sure that we will be able to take full advantage of all the capabilities that Oracle HCM Cloud offers.”
As the company was coming out of its association with GE, it realized the opportunity to develop new systems, processes and framework which would be more simple, effective and efficient taking the experience to the next level.
SBI Card migrated to Oracle cloud application for its HR and Marketing functions to get the desired level of flexibility and scalability.
“We implemented the Oracle HCM HR System at SBI Card. Now, the employees have one single platform from the day of joining. This platform provides good engaging experience for learning and development as well as training. This solution is also closely integrated with Oracle HCM Cloud with other Cloud Applications of Payroll, Rewards & Recognition, Expense Management. We onboarded our employees on Cloud HCM (HUMAN CAPITAL MANAGEMENT) solution which turned out to be a huge success. Now Employee Onboarding, performance management and training are done on Cloud HCM solution,” Rama Mohan Rao Amara, MD & CEO, SBI Card, explained.
With the adoption of HCM, the company no longer incur any operational or commercial overhead related to infrastructure, hosting or maintenance. Upgrades, new features and functionalities are rolled out without any additional costs.
By adopting Oracle cloud Marketing functions, SBI card is able to connect, activate and leverage data from multiple sources to define the customer segment to improve the customer engagement. Oracle marketing cloud has sent over 200 million targeted messages (SMS and emails) to SBI Card customers for offers.
“In our experience, marketing backed by a better understanding of consumers, helps in chalking out the best suited initiatives. SBI Card has witnessed the same and many such initiatives helped us continue to grow faster than the industry, as reflected in an increased market share for SBI Card as of Q3 2020,” Amara added.
“We are further working with the team on using the built in AI to ensure the RFM modelling is utilized and use the trigger based real time campaign orchestration more frequently,” he concluded.