Driving Digital Transformation in Nepal’s Banking Landscape
Basant Baksi
Head of Sales & Digital Marketing, Branding, Corporate Affairs,
Mahalaxmi Bikas Bank Limited
From a front desk job to now leading Sales & Digital Marketing, Branding, and Corporate Affairs at Mahalaxmi Bikas Bank Limited, Basant Baksi’s career is a remarkable journey of growth and transformation. Beginning his professional life in 2009, Basant quickly learnt the ropes of customer interaction, gaining invaluable insights into the importance of empathy, active listening, and real-time problem-solving. These early experiences shaped his customer-first approach, instilling a deep respect for direct communication and trust-building. Within just seven years, Basant transitioned into leadership roles, where he effectively harnessed his expertise in sales, digital marketing, branding, public relations, media relations, and corporate communications. Today, as the Head of Sales & Digital Marketing, he integrates these insights into every marketing strategy and corporate communication initiative, ensuring that they align with customer needs and expectations. His leadership is characterised by a commitment to fostering authentic relationships with clients, which drives successful brand messaging and corporate initiatives. Basant continues to strive toward ambitious career goals, leveraging his extensive banking experience to drive innovation and growth at Mahalaxmi Bikas Bank. Under his guidance, the bank is not only enhancing its brand presence but also redefining customer engagement in an evolving financial landscape. When speaking with TradeFlock, Basant discussed his growth, strategy and plans.
What key moments have influenced your career growth across various banking roles?
Transitioning from managing various banking portfolios to leadership roles in sales, marketing, brand management and corporate affairs was a pivotal moment in my career. This shift allowed me to explore strategic marketing from a broader perspective, prioritising the long-term impact on brand perception. Another significant milestone was my decision to join Mahalaxmi Bikas Bank, where I embraced the challenge of leading multiple functions, including sales, digital marketing, CSR, and corporate communications. These experiences have equipped me with a comprehensive understanding of the banking landscape and have profoundly shaped my strategic approach to leadership.
How do you tailor your marketing and sales strategies to different regions in Nepal based on financial needs and digital literacy?
Nepal’s diverse financial landscape demands a dynamic approach to banking. In areas with lower digital literacy, we employ impactful outreach strategies like community events and door-to-door campaigns to forge personal connections. Conversely, in urban regions, we leverage robust digital strategies, including mobile banking promotions and engaging social media campaigns. This tailored focus enhances accessibility and drives inclusivity, empowering our brand to thrive and resonate throughout Nepal’s varied regions.
What is your greatest strength as a marketing leader, and how has it shaped your approach to branding?
My ability to forge and cultivate strong, enduring relationships with clients, stakeholders, and teams stands as my greatest strength as a marketing leader. This skill profoundly shapes my approach to branding and corporate affairs, where I emphasise trust, transparency, and consistency in every communication. I believe that a brand thrives on the quality of its relationships, driving me to ensure that all marketing initiatives and corporate messaging align seamlessly with our core values. Additionally, my expertise in leading cross-functional teams and fostering synergy across departments has been crucial in enhancing our bank’s reputation and achieving impactful results.
How have you introduced innovation in sales and digital marketing at Mahalaxmi Bikas Bank?
In banking, innovation requires balancing traditional methods with new digital solutions. At Mahalaxmi Bikas Bank, I infuse innovation by integrating data-driven digital marketing strategies focused on personalised customer outreach. We enhance our digital presence across platforms to ensure seamless customer experiences. By embracing social media, SEO/SEM, and targeted digital campaigns, we connect with younger, techsavvy customers. These initiatives expand our customer base and improve brand awareness in an industry often viewed as conservative, showcasing our commitment to evolving and meeting market demands.
How do you balance global trends with local consumer behaviour in banking?
Balancing global marketing trends with local consumer behaviour demands a nuanced strategy. While we embrace global innovations like fintech adoption and AI-driven customer service, we adapt them to Nepal’s unique context, where trust in traditional banking remains paramount. We implement changes gradually, ensuring our customers feel comfortable and secure. This approach allows us to stay at the forefront of the industry while preserving the strong relationships we’ve built with our core customer base.
What is your view on the future of marketing in finance with the rise of fintech and changing customer expectations?
Defined by personalisation, digital innovation, and seamless customer experiences, the future of marketing in the financial sector is set to evolve dramatically. Fintech is reshaping the landscape, making banking more accessible, transparent, and user-friendly. As customer expectations rise, they will demand faster and more tailored services, prompting banks to invest significantly in technology. At Mahalaxmi Bikas Bank, we are preparing for this future by embracing fintech partnerships, enhancing our digital platforms, and focusing on delivering value through customised services. I envision a future where technology and human connection blend to create a truly customer-centric banking experience, elevating engagement and satisfaction.
