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HDFC Bank Taps into Social Media Analytics, User Purchase History to Offer Credit Cards
September 07, 2017
Known for its conservative credit offerings, HDFC Bank seems to be going against its habit by turning to social media analytics and purchase history of first-time consumers to sell credit cards to them. Experts believe this has to do with increased competition and the tremendous potential in the retail market.
HDFC Bank’s head of card payment products Parag Rao said that growing the market is the way to becoming a market leader. He also said that in lieu of hardcore credit, artificial intelligence and analytics can help create accurate profiles of the individuals.
