Stay Foolish, Stay Hungry for Knowledge & Wisdom
“Digital transformation is based on two key parameters: Technology & Innovation”
In conversation with Mr. Rabinarayan Swain, Ops Due Diligence Expert at Societe Generale Global Solution Center, and our Spotlight Alumni.
How has technology changed the status quo for your Company?
My current employer Societe Generale’s digital transformation was initiated several years ago. It is based on two key parameters, technology, and innovation, to better serve clients. As a traditional bank, its technological limitations needed to evolve, more particularly towards modular and open architectures and through hybrid (private and public) cloud adoption for its infrastructures. The lockdown period has been one of intense activity for Societe Generals. We supported our clients by combining our human and digital strengths to rapidly reconfigure our products and services to meet their immediate needs. Another priority was to protect our employees and ensure our business continuity, with the worldwide rollout of simultaneous remote working.
What factors help you build a strong brand and connect with your target audience?
Brand identity: A brand identity is made of what your brand says, what your values are, how you communicate your concepts, and the emotions you want your consumers to feel when they interact with your business.
Communication: One of the most important challenges to communicating your brand authentically is to find the channels that align best with your brand and the message you are looking to deliver. There are so many digital channels out there now that it’s impossible to be everywhere and do a good job communicating authentically with your audience. The way you deliver your message and the language you use is just as important as the actual content.
Story Telling: People love stories that connect with them on an emotional level and drive them to a point of action. A strong brand identity can establish that emotional connection with consumers, which is the most solid foundation for building a lasting relationship with your brand.
What steps are you taking to build a stronger brand presence?
It’s more of art than science. There are no written rules. You have to follow what suits you. Mainly four main steps we have taken so far to boost brand presence.
1) Using Effective channels for communication
2) Remaining consistent to clear away confusion
3) Forging a personal connection between our brand and customer
4) Focusing on our target audience
What trends do you see in the market for FY 22?
We will start to live in an age of de-globalization in a post-pandemic world. Countries around the world are turning into populist and protectionist regimes. Post-pandemic recovery and volatile geopolitics are two important topics that will dominate debates and narratives. Central banks around the world will hike rates to curtail cheap money circulating in the system to manage hyperinflationary situations. Adoption of technology and buying healthcare insurance will rule the minds of customers and businesses alike. Startups will become cognizant of business fundamentals over their cash burn rate. On a micro level, businesses will implement Hybrid Work models to smoothen the effect of pandemics. ESG adoption is another trend that will be a key issue for firms to fight climate change and promote sustainable development.
What values have helped you to grow professionally?
Staying ahead of the cutthroat competition by upskilling myself is a key growth driver. As a professional, you must find solutions to business problems and create consensus in the decision-making process. To keep your options open, you must read everything under the sun and learn from everybody, be it your client, your peer or your superiors. Constant learning and updating oneself is the path toward professional triumph.
What message would you like to give to our FIIB students?
FIIB has been a centre of excellence for imparting international business acumen among its students over the years since its inception. It is best known for its rigorous academics. I found the case study approach which is in line with other premier B-Schools curriculum very interesting. It creates real business world experience which is executed by erudite faculties. Students should leverage this advantage for maximum benefit. Treat business newspapers and journals as your Bible. Try to filter wisdom out of a sea of data and information.