Why Martech Is Now at the Heart of Customer Experience in BFSI?
The finance sector has traditionally operated with siloed systems, legacy processes and fragmented data, making it difficult to understand or respond to individual customer needs in real time. Personalisation was limited and experiences often felt transactional.
Martech
is now reshaping this landscape, enabling financial institutions to harness data, unify touchpoints and deliver tailored, meaningful interactions that build trust, improve retention and increase lifetime value.
The Big Leap Martech Social, hosted by ETBrandEquity and CleverTap, brought together India's leading marketers for an exclusive conference on 8 May 2025 in Bengaluru. Speakers included Anchit Chandra, vice president and head of digital marketing and CRM, Muthoot FinCorp ONE, and Animesh Das, CEO, Acko General Insurance. The session was moderated by Subharun Mukharjee, vice president, CleverTap, and Krystyna Devina Lason, senior anchor and producer, The Economic Times.
The discussions focused on how martech enables financial brands to go beyond transactions and build relationships through data-driven insights and contextual relevance.
Chandra spoke about the challenge of serving a diverse customer base—ranging from grassroots individuals to ultra-high-net-worth clients. Each transaction is unique, whether it involves pledging different quantities of gold jewellery or applying for loans of varying sizes. He said this diversity is also what unlocks long-term value.
'With over 3,800 branches, each providing daily insights from walk-ins, we capture data from conversations, personalise offers and use localisation to reach different segments. Our
martech stack
helps us process that data and enrich it with secondary sources, allowing us to serve customers whose needs we may not directly capture,' he said.
This strategy allows Muthoot FinCorp ONE to personalise interactions based on each customer's financial context. Whether it's assessing fluctuating loan eligibility or segmenting service delivery, the company aims to offer relevant and differentiated solutions.
'We're building a martech stack that delivers tailored offers daily, driving loyalty and improving retention,' said Chandra.
Das recalled the early days of Acko and the limitations of traditional insurance. He said insurance had remained unchanged for decades, sold by agents door-to-door, based on paper-heavy, standardised products. The system lacked innovation and personalisation. Acko wanted to change that completely.
'Tech is usually seen as a way to gain efficiency. It shouldn't be. It should be the foundation of how you build the product, experience and distribution. This isn't about incremental changes, it's about rethinking the entire model.'
Das said understanding the core consumer is more important than pushing broad campaigns. Precise targeting, he added, can cut marketing costs by a third.
'We ask: is the user already on the platform? Which channels do they use? Tools today allow us to reach users with accuracy and context.'
He cited an example: 'If a customer has recharged a FASTag, I know they're likely travelling. I won't send a generic 'buy insurance' message. I'll say 'Hope you're travelling, see how our insurance can help.' That kind of sharp messaging only works when tech is central. It's not about scale, it's about reaching the right user smartly and efficiently.'
Muthoot FinCorp ONE and Acko reflect how martech is reshaping financial services. From real-time data integration and targeted offers to smarter product development and communication, technology is now central to modern customer engagement.
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Why Martech Is Now at the Heart of Customer Experience in BFSI?
The finance sector has traditionally operated with siloed systems, legacy processes and fragmented data, making it difficult to understand or respond to individual customer needs in real time. Personalisation was limited and experiences often felt transactional. Martech is now reshaping this landscape, enabling financial institutions to harness data, unify touchpoints and deliver tailored, meaningful interactions that build trust, improve retention and increase lifetime value. The Big Leap Martech Social, hosted by ETBrandEquity and CleverTap, brought together India's leading marketers for an exclusive conference on 8 May 2025 in Bengaluru. Speakers included Anchit Chandra, vice president and head of digital marketing and CRM, Muthoot FinCorp ONE, and Animesh Das, CEO, Acko General Insurance. The session was moderated by Subharun Mukharjee, vice president, CleverTap, and Krystyna Devina Lason, senior anchor and producer, The Economic Times. The discussions focused on how martech enables financial brands to go beyond transactions and build relationships through data-driven insights and contextual relevance. Chandra spoke about the challenge of serving a diverse customer base—ranging from grassroots individuals to ultra-high-net-worth clients. Each transaction is unique, whether it involves pledging different quantities of gold jewellery or applying for loans of varying sizes. He said this diversity is also what unlocks long-term value. 'With over 3,800 branches, each providing daily insights from walk-ins, we capture data from conversations, personalise offers and use localisation to reach different segments. Our martech stack helps us process that data and enrich it with secondary sources, allowing us to serve customers whose needs we may not directly capture,' he said. This strategy allows Muthoot FinCorp ONE to personalise interactions based on each customer's financial context. Whether it's assessing fluctuating loan eligibility or segmenting service delivery, the company aims to offer relevant and differentiated solutions. 'We're building a martech stack that delivers tailored offers daily, driving loyalty and improving retention,' said Chandra. Das recalled the early days of Acko and the limitations of traditional insurance. He said insurance had remained unchanged for decades, sold by agents door-to-door, based on paper-heavy, standardised products. The system lacked innovation and personalisation. Acko wanted to change that completely. 'Tech is usually seen as a way to gain efficiency. It shouldn't be. It should be the foundation of how you build the product, experience and distribution. This isn't about incremental changes, it's about rethinking the entire model.' Das said understanding the core consumer is more important than pushing broad campaigns. Precise targeting, he added, can cut marketing costs by a third. 'We ask: is the user already on the platform? Which channels do they use? Tools today allow us to reach users with accuracy and context.' He cited an example: 'If a customer has recharged a FASTag, I know they're likely travelling. I won't send a generic 'buy insurance' message. I'll say 'Hope you're travelling, see how our insurance can help.' That kind of sharp messaging only works when tech is central. It's not about scale, it's about reaching the right user smartly and efficiently.' Muthoot FinCorp ONE and Acko reflect how martech is reshaping financial services. From real-time data integration and targeted offers to smarter product development and communication, technology is now central to modern customer engagement.
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