A 4C Formula derived from 95 years of experience

Sanchay Sinha, CGM - Retail Banking Department at South Indian Bank, delves into product innovation, customer experience, and partnerships:

- Ravi Lalwani

Sanchay Sinha believes in empowering customers with digital convenience & personalized care

Ravi Lalwani: Please provide an overview of the latest retail banking initiatives at South Indian Bank? Do highlight products or services that have been launched.

Sanchay Sinha: At SIB, our primary objective is to drive retail business with rigorous daily efforts and agility. We vigilantly monitor market developments and swiftly implement necessary organizational adjustments. In recent times, retail banking has increasingly prioritized digital transformation, sustainability, and regulatory adherence. To uphold these imperatives, we are steadfastly enhancing digital platforms, personalized banking services, customer experience, technological integration, and fostering strategic partnerships and collaborations.

SIB TF online has streamlined customer remittances by eliminating the need for branch intervention. The SWIFT e-Platform facilitates seamless customer on boarding for savings account customers, enhancing the customer experience. Additionally, our Custom Duty Collection Platform, a collaborative initiative with the Central Board of Indirect Taxes and Customs (CBIC), has simplified the custom duty collection process. We have also introduced new retail products, such as the Merchant Plus current account packaged with POS and Sound Box, to cater to the evolving needs of our customers.