Technology helps CGGB unlock future possibilities
Banking Frontiers|August 2021
Chaitanya Godavari Grameena Bank is also communicating with the customers on Facebook about its product offerings and services:
Technology helps CGGB unlock future possibilities

For FY2020-21, despite the negative sentiment created by the pandemic, Chaitanya Godavari Grameena Bank, with the network of 222 branches spanning across 3 districts of Andhra Pradesh, has registered a considerable overall business growth of 23% over the previous FY with deposits of ₹65.39 billion and advances of ₹68.77 billion.

One example of the bank leveraging the technology is the deployment of Android-based micro-ATMs with BCs at the field level during the testing times of covid. T. Kameshwar Rao, the Chairman, says a seamless availability of the technological solution deployed in micro-ATMs made it possible that BCs are reachable to the customers at any point in time. “That has led to the volume of transactions ticking around 2.9 million, amounting to ₹11.31 billion,” he adds.

Having seen the least turn-around time for transactions with the micro-ATMs, all the branches of the bank are equipped with at least one micro-ATM. Rao says customers can just approach the counter with their Aadhaar and get serviced for basic banking transactions like account opening, opening deposit accounts, withdrawal of funds from our bank, or any other bank.

The bank has Finacle from Infosys as the core banking solution, while Wipro is the system integrator.

CGGB MONEY APP

This story is from the {{IssueName}} edition of {{MagazineName}}.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

This story is from the {{IssueName}} edition of {{MagazineName}}.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MORE STORIES FROM BANKING FRONTIERSView all
It's a bank and a brokerage - FinecoBank
Banking Frontiers

It's a bank and a brokerage - FinecoBank

FinecoBank of Italy is a highly tech-enabled bank that is a combination of a bank and a brokerage:

time-read
3 mins  |
November 2024
A model for cloud adoption - Zurich Cantonal Bank
Banking Frontiers

A model for cloud adoption - Zurich Cantonal Bank

The bank is had opted for cloud to offer better service to its customers:

time-read
3 mins  |
November 2024
RBI Governor urges NBFCs to adhere to fair practices code
Banking Frontiers

RBI Governor urges NBFCs to adhere to fair practices code

The Reserve Bank of India (RBI) Governor has urged Non-Banking Financial Companies (NBFCs) to strictly adhere to the Fair Practices Code, emphasizing sustainable growth and robust risk management in the sector.

time-read
1 min  |
November 2024
Automated, Adaptive, Al-enabled Architecture is a must
Banking Frontiers

Automated, Adaptive, Al-enabled Architecture is a must

Security heads from 2 BFSI companies reveal the key cyberfrauds and strategies to combat them:

time-read
4 mins  |
November 2024
Fraudsters too gain ground as real-time payment systems grow
Banking Frontiers

Fraudsters too gain ground as real-time payment systems grow

There is a need for the technologies behind the real-time payment systems to gain a march over the methods of fraudsters:

time-read
5 mins  |
November 2024
Ethics & Challenges of AI in Cyber security: Navigating the Moral Maze
Banking Frontiers

Ethics & Challenges of AI in Cyber security: Navigating the Moral Maze

Even as AI is finding its place in the cyber security domain, an entirely new frontier of ethical challenges awaits.

time-read
3 mins  |
November 2024
Bangladesh Finance: 25% faster customer service; 15% higher customer retention
Banking Frontiers

Bangladesh Finance: 25% faster customer service; 15% higher customer retention

Bangladesh Finance, established in 1999, is a leading financial institution in Bangladesh.

time-read
5 mins  |
November 2024
Fino sparkles with technology & brand upshift
Banking Frontiers

Fino sparkles with technology & brand upshift

Fino Payments Bank started operations in June 2017, providing banking services to mass market customers, who are largely rural-based.

time-read
4 mins  |
November 2024
Savington Upshifts: 48% Faster, Churn down 31%
Banking Frontiers

Savington Upshifts: 48% Faster, Churn down 31%

Savington International Insurance Brokers LLC, founded in 2006 by Dev Maitra, is a prominent insurance provider in the UAE.

time-read
4 mins  |
November 2024
Zoroastrian Bank: Multiple awards for being the Best
Banking Frontiers

Zoroastrian Bank: Multiple awards for being the Best

Established in 1927 by Sir Hormusjee Cowasjee Dinshaw Adenwalla, Zoroastrian Bank is a prominent urban cooperative bank headquartered in Mumbai, India.

time-read
7 mins  |
November 2024