Blue Collar Credit Card Case Study - Accounting and Finance Assignment Help

Assignment Task:

Task:

1.Executive Summary: Ruby card Finance Limited has a segment called “Good bureau high volume transactors”, and the Company issue Credit Card to “Blue Collar Worker” (Like Swiggy delivery boy) and SME business owners (like a shop keeper). The problem statement is, in this segment Day by Day the Loss Rate is Increasing.
2.Introduction: In the public sector, employees are administratively divided into two groups; officers & workmen. Workmen are also called ‘Award staff’ in banking Sector. They mainly work on hourly basis, when the bound hours extend then it’s count as an overtime. It is not that these are always so, but evolved over time. This Overtime is the important factor of this segment.
To implement new strategy or reconstruct the old strategy, we need to understand the behavior and credit needs of the targeted user. Here the targeted users are “Blue Collar worker”.
Blue Collar worker: A Blue-Collar worker is the working-class person who perform the manual labor.

Most blue-collar workers come from middle to lower middle-class homes, and thus may have the legacy of a family debt to clear, but most are not seeped in debt as they enter the workforce.
Their credit needs could be classified as:
1. Consumption needs:
2. Asset acquisition needs and,
3. Social needs.

Increasing Disposable Incomes and Double Income Households
Increasing disposable incomes (14% Y-o-Y in 2018), more women joining the workforce and contributing to household incomes, and an increasing proportion of discretionary spending on leisure activities, such as entertaining and eating out, apparels, accessories, personal electronics etc., has encouraged consumers to shift to credit cards.

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