Derivative marketing: Identification of target groups; AXIS Bank

Abstract

The summer internship at Axis Bank was a very enriching experience, wherein I gained first-hand knowledge of foreign exchange markets, and carried out an indepth study of the derivatives market in India. Key Takeaways: • Gained exposure to practical applications of various theoretical concepts studied in class • Developed a sound understanding of currency markets, and foreign exchange derivatives in India • As a part of my internship, I interacted with a few clients, and this experience helped me a lot in understanding their requirements, and hence offering them the products that matched their needs • It was important to understand the 'Suitability & Appropriateness' of a product vis-a.-vis the client's needs, and hence the approach used in making product recommendations was very customer centric Top 3 Contributions: • Developed a new Suitability & Appropriateness Tool for the Bank • Mapped various derivative products available, with financial expertise and currency exposure of the client • Used the aforementioned tool and client-product mapping to recommend derivative products for 16 Corp orates o These included the Bank's existing clients as well o The recommendations were based on a comprehensive list of parameters