Competitive Rate Analysis in the Banking Inustry

Larger Faster Growing Bank of India

CLIENT & PROBLEM STATEMENT

  • The bank needed a comprehensive solution to analyze competitor fixed deposit rates to strategically price its own deposit offerings for both regular and senior citizens.
  • With the increasing competition in the banking sector, it became essential to have an up-to-date understanding of competitor rates across various tenures, categories, and deposit amounts.
  • The need to analyse competition rates to price your own deposit rates accordingly.

APPROACH

  • Fetch fixed deposit interest rates for different banks for regular and senior citizens using web scraping modules.
  • Utilised selenium web framework for advanced scraping of data.
  • The data was pulled from the R & T files in a replicated database and then ETLs were created to pull data in Narrator.
  • The other task which was automated was the mappping of broker codes and transactions which was a big pain point for the Client and the entire process was automated.
  • The project involved configuring of reports and setting it up in reporting formats as required.

SOLUTION & OUTPUT

  • Using the rates comparison functionality of Narrator tool, the users are able to compare and analyse the data for different banks across various categories, tenure and amount.
  • The bank can price deposit rates and price it in an aggressive manner.
  • It gets a competitive advantage by having better rates after pricing.
  • Narrator tool now saves lot of time and efforts in sending the Daily, monthly and adhoc reporting required for the sales teams.