Lead Digital Payments

POSITION DESCRIPTION

JOB TITLE

Lead - Digital Payments

GRADE

AVP-I

DEPARTMENT

Digital Banking

LOCATION

HO

SUB-DEPARTMENT

Channels

TYPE OF POSITION

Full Time

REPORTS TO

Head – Digital Banking

REPORTING INTO

Product Expert – Digital Payments

ROLE PURPOSE & OBJECTIVE

• This role will be responsible for developing a digital payments roadmap (across individual customers, micro-banking customers and corporate customers) and setting up this vertical to become a net revenue contributor for the bank
• This role will collaborate closely with all business and technology teams to ensure right product design and development to leverage the bank’s payments capabilities for own customers as well as for new customer acquisition
• benchmark platforms against best in class globally to create frictionless client journeys
• business value proposition and decision making models by bringing qualitative and quantitative analytical skills on digital payments data.
• for Digital Payment Product’s performance, outreach, regulatory reporting and optimization.

SIZE OF THE ROLE

FINANCIAL SIZE

NON-FINANCIAL SIZE

Capex – Rs 10-20 Crore

Opex – Rs 5-10 Crore

Payment Product Portfolio

Partners – 8-10

Process Note/Policies/SOPs – 8-10

KEY DUTIES & RESPONSIBILITIES OF THE ROLE

Business

Strategize, develop, own and manage all Payments, including but not restricted to Payment modes (IMPS, NEFT, UPI, AEPS, etc.), Payment Gateways, Payout systems, Retail and Corporate payouts, etc.

Develop Digital roadmap and align with each business vertical for its implementation and generating revenue from the implementation.

Drive customer acquisition via bank’s channels and via partnerships by leveraging the payments product offerings

Develop go-to-market strategies that drive the roll-out and adoption of digital payments

Customer

Develop a thorough understanding of the customer portfolio and create segmentation, cost benefit analysis etc. to support campaign development.

Manage end-to-end customer life cycle on the payments products.

Create research based, user-friendly UX for digital payments and lending interfaces of the bank towards an integrated and omni-channel customer experience.

Collaborate with UX Agencies / Visual Designers to iteratively refine the design and customer journeys to maximise desired business impact.

Set and achieve targets on international benchmark metrics towards delivering a superior digital experience to the customers.

Collaborate with external partners and internal teams for effective & secure solutioning for speedy go-live

Roll out a customer communication plan for every enhancement and initiative related to Digital Payments

• process

Manage entire product lifecycle from ideation, planning, vendor identification, co-creation with vendor / IT, go-live and future enhancements by working with a cross-functional team – IT, compliance, business, security, legal, finance etc.

Engage with Channels and Marketing Teams to drive acquisition, adoption and growth of the products for retail and corporate customers

Evaluate, negotiate commercials and finalize potential partnerships / partnership models from the third party tie-ups for possible integrations so as to build a business-line to grow the books in-organically through these tie-ups

Product notes/policies/SOPs are to be updated and aligned with regulatory guidelines.

Coordinate for Audit, Risk and compliance Audit and ensure closure of points within stipulated time

Keep documentations of BRDs, FSDs and sign off for every project

• & Performance

Benchmark competitive experiences, analyse business growth and customer behaviour to define & implement a roadmap of improvements that ensure leadership in each of its categories.

Build relationships with incubators, accelerators, academia, service suppliers, professional services firms, start-ups, venture capitalists, regulators and government institutions within the industry.

• with the motive of “Train the Bank” on all the Digital Payments. Ensure all staff is sufficiently trained on Digital Payments products in order to evangelize the digital payments program.
• e-learning platform HandyTrain to ensure continuous module development of Digital Payments for employees
• with NPCI

Completion of goal setting and appraisals on time for self and team

MINIMUM REQUIREMENTS OF KNOWLEDGE & SKILLS

Educational

Qualifications

MBA in Marketing / Finance / IT or equivalent degree

Degree / Certification (or significant on-job experience) in Project Management & Execution processes and User Experience

Experience(Years and Core Experience Type)

8+ years of driving Digital Innovation, New Product Development, Fintech Partnerships for a division or the company preferably in the banking sector

Certifications

NA

Functional Skills

• 8+ years’ experience in digital product management or financial services, with a background in the retail banking, lending and payments domain
• Can point to a record of individual technical achievement in digital products, E-Commerce, and/or retail payments (leading projects, developing new solutions, or market launches)
• Expertise in defining business requirements, leading workshops and discovery sessions
• Demonstrated experience in improving product performance through the use of data, metrics, and customer insights
• Experience bringing together cross functional teams and leading execution in an agile delivery model
• Thorough understanding of digital payments and lending, as well as innovation in the financial industry

Behavioral Skills

• Structured thinker, effective communicator with excellent written communication skills
• Ability to prioritize projects and efforts according to business need and industry trends
• Excellent people management & Stakeholder Management skills
• Good analytical & presentation skills
• Proficiency in English written and verbal communication skills

Competencies

NA

Performance Matrices

Balance Scorecard Perspective

Key Result Areas

Key Performance Index

Financial/Business

Business generated with digital products launched for lending and payments

Cross sell/up-sell through Digital channels

Topline and bottom line contribution through the digital products.

Value, volume and opportunities capitalized for cross sell/up-sell through the digital channel.

Customer

Strategic collaborations

Customer Acquisition

Number of third party tie-ups / integrations implemented.

Volume and value of business generated through the collaborations.

Number of new customers Acquired.

Tangible and intangible value generated with customers acquired on the digital platforms

Adoption of digital lending & payment products by customers i.e. usage

Internal Process

Develop a clear and implementable Lending & Payments Strategy Roadmap

New product development

Number of digital payment and lending products ideated, developed and launched.

Learning & Performance

Leadership in the digital product categories.

Percentage increase in adoption.

Number of enhancements undertaken and CSAT scores pertaining to the enhancement.

KEY INTERACTIONS

INTERNAL

EXTERNAL

MD & CEO

Startup and Fintech Community (Partners such as lending and payments platforms, payment gateways etc.)

Executive Committee

Vendors & Thought Leaders (Apple, Google etc.)

All Functional Heads (Business & Support functions)

Customers

Industry / Marketing Forums

Industry Regulatory bodies (NPCI, RBI etc.)