Here is one idea which I got some months ago. So I thought i should post here, My be its not related to Bank but , comes under personalization and its may be good to custmers because Telecome Companies also decided to increase Plans.
Many people do telecome recharge of 479 rs plan for 56 days. Means 479*(365/56)=3122rs
(But, there is also one plan of 2999rs from telcome companies for 365 days validity with 1 OTT subscription extra benifits.)
So, Jupiter will do recharge for customers with 2999 plan and now custmer, instead of paying 479 rs every 56 days. Bank will recover money by auto deduction of 239rs for every 28 Days. So customers will pay 239*(365/28) =3115
For the 479 plan, the customer would pay 3122, for the 2999 plan, but in EMI - paying same with more Easily. (For non Cashback enthusiasts Customers only)
- customer would pay 3115. So the customer would save 3122 - 3115 = 7 (not so much😅)
- Customer will get Extra Data
- Customer will get complementary OTT subscription.
- can save from Plans Price Hikes.
Customers Savings reduced and benifits increased with nearly same amount for increasing ROI & IRR. (Necessary)
Per customer Bank need to invest 2999-239(customers will pay 1st for 28days)=2760rs.
Bank will also get 4% commission from telecome companies on 2999rs plan means 119rs as commission bank will earn.
Also bank will get earn from customer
So bank will earn total 119+116= 235 rs per customer.
So ROI will be (23,5/2760)*100= nearly 8.5%
And IRR Will be nearly 10.5% (I don’t know how to calculate but I tried)
For Adding family membersrecharge, Offer 1% cashbach Benifit for every add on member.
Also offer 1% Refferal Benifit.
Its 1 type of Lending or like EMI so Its Risky.
Problem may arise if Want to Port SIM.
Can’t predict about Vi
Solution of problems-
can be reduced by recharging for 6 months instead of 1 year, this can also decrease risk by 50% and also decrease Cash OutFlow
( but this can also reduce Profit and may be customer get less benefits)