AU Small Finance Bank is planning to launch an mobile based app to imp...
AU Small Finance Bank has decided to improve its business through crowd-sourcing, involving not only employees but also customers and non-customers using the mobile app named 'Kamao' (earn). AU Small Finance Bank has planned to encourage stakeholders to refer prospective customers, who want to open deposit accounts or get loans, on the app and win rewards. The app is currently undergoing beta (field) testing. If an employee, customer or non-customer give leads (prospective customer's name, contact details, and banking requirements) they will be rewarded. The sales team will work on the lead, and if it converts into business, the person who referred the prospective customer, will get a reward. The status of the lead given will be updated in the app. In case of employees, the bonus is linked to generation of leads. The the app will be launched in six months.
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AU Small Finance Bank is planning to launch an mobile based app to imp...
Introduction:
AU Small Finance Bank is planning to launch a mobile-based app to improve its business through crowd-sourcing. The app aims to involve not only employees but also customers and non-customers in order to enhance their overall banking experience. The name of the app is "Kamao."
Explanation:
The correct answer is option 'A' - Kamao. Here's a detailed explanation:
1. AU Small Finance Bank's initiative:
AU Small Finance Bank is a leading bank in India that aims to provide innovative banking solutions to its customers. In line with this objective, the bank has decided to launch a mobile-based app to improve its business operations and engage a wider audience.
2. Crowd-sourcing:
Crowd-sourcing refers to the practice of obtaining ideas, services, or content from a large group of people, typically through an online platform. In the case of AU Small Finance Bank, the app will serve as a crowd-sourcing platform where employees, customers, and non-customers can contribute their ideas, feedback, and suggestions to enhance the bank's services.
3. Involvement of employees:
AU Small Finance Bank recognizes the importance of its employees in driving innovation and improvement. By involving employees in the crowd-sourcing process, the bank aims to tap into their expertise and creativity to come up with new ideas and solutions for enhancing the banking experience.
4. Involvement of customers:
Customers are at the heart of any business, and AU Small Finance Bank understands this. The app will enable customers to provide feedback, suggestions, and ideas to the bank, allowing them to actively participate in shaping their own banking experience. This involvement will not only make customers feel valued but also help the bank gain valuable insights into customer preferences and expectations.
5. Involvement of non-customers:
AU Small Finance Bank is not limiting the app's usage to its existing customers. Non-customers will also have the opportunity to contribute their ideas and suggestions, providing a fresh perspective and potentially attracting new customers to the bank. This inclusive approach reflects the bank's commitment to engaging with a wider audience and continuously improving its services.
Conclusion:
The name of the mobile-based app launched by AU Small Finance Bank to improve its business through crowd-sourcing is "Kamao." Through this app, the bank intends to involve not only its employees but also customers and non-customers in the process of enhancing its services. This inclusive approach reflects the bank's commitment to innovation and customer-centricity.
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