In an era where financial inclusion has become a critical focus, Piramal Finance is working towards ensuring that credit access is not a privilege but a right for all. The brand is leveraging digital innovation, strategic partnerships, and customer-centric marketing approaches to reach underserved segments across India. In another episode of Pitch BrandTalk, Arvind Iyer, Head - Marketing, Piramal Finance, discusses the brand's unique positioning, the evolving fintech landscape, and the role of marketing in driving financial awareness.
Bridging the Credit Gap in Bharat
India's lending ecosystem has evolved rapidly, yet a substantial portion of the population remains outside formal credit. Piramal Finance has been focusing on bridging this gap by tailoring its offerings to the needs of Bharat, ensuring accessibility and affordability.
"At Piramal Finance, we are deeply committed to making credit accessible to every Indian, regardless of their socio-economic background. Our approach is rooted in understanding the financial aspirations of our customers and addressing them through innovative products and a seamless digital experience," said Iyer.
The brand has adopted a phygital (physical + digital) model to cater to the diverse needs of customers across urban and rural markets. "While digital is the future, we recognize that in many regions, customers still value personal interactions. Our branch network, coupled with our digital capabilities, allows us to serve them better," he added.
Tech For Driving Financial Inclusion
With technology playing a pivotal role in transforming lending, Piramal Finance is investing in AI-driven credit assessments, automation, and data analytics to enhance the customer journey. "Our tech-first approach ensures that we can assess creditworthiness beyond traditional metrics, helping individuals who may not have formal income documents but can still be able to repay," Iyer explained.
Piramal Finance has also partnered with fintech players and ecosystem enablers to strengthen its reach. "Collaboration is key. By integrating with various fintech platforms, we can bring more people into the formal credit system and offer them tailored solutions," he stated.
Marketing as an Enabler of Financial Awareness
For a financial institution, marketing is not just about brand building but also about educating consumers. Piramal Finance is deploying content-driven strategies to enhance financial literacy and trust among its target audience.
"We believe in a storytelling approach. Finance can be complex, and our job is to simplify it for our customers. Through digital content, vernacular campaigns, and on-ground activations, we ensure that people understand the benefits of credit and how to use it responsibly," said Iyer.
The brand's marketing efforts are also focused on hyper-personalization, leveraging data insights to deliver relevant communication. "The one-size-fits-all approach no longer works. Our campaigns are designed to address the specific needs of different customer segments, whether it’s a first-time borrower, a small business owner, or a salaried professional," he added.
Future Roadmap and Growth Strategy
As Piramal Finance looks ahead, its focus remains on deepening penetration into underserved markets, expanding its digital footprint, and innovating financial solutions that cater to evolving customer needs.
"We are continuously refining our offerings and investing in technology to make the borrowing experience seamless. The vision is to empower millions of Indians with access to credit, enabling them to fulfill their dreams and aspirations," Iyer concluded.
With a strong commitment to financial inclusion and a dynamic marketing approach, Piramal Finance is well-positioned to redefine lending in India, ensuring that credit is not just accessible but also meaningful for every Indian.
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