BFSI Sector Outlook - Digitisation, Cost Structure, Consolidation And More: ICICI Securities
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ICICI Securities Report
Top long-term trends in the financial sector are:
Digitisation has been fast tracked and is enabling business transformation in the form of next-level personalisation and customer journey mapping, efficiency to value creation, collaborative digital ecosystem in niche segments, partnering with fintechs and shift towards data aggregation.
Expansionary counter-cyclical fiscal policy with focus on reviving growth suggests India Inc. is on cusp of releveraging (post deleveraging phase) and we are at an inflection point of credit growth.
Entire cost structure is being reimagined and a few overheads would be shaved off permanently (e.g. real estate requirement) as online processing reduces cost of customer acquisition/service, etc.
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