The customer being the King in any business applies to banking in India too.
Introduction:
To provide customer service in the competitive environment the Banks look to the innovation for their rescue. Technology being offspring of the never innovation, technology aided products rule today's banking space. The Indian median age being 27, against China's 37 shows the increase in gen-Y population, which is an advantage to India. This young tech-savvy population and the increase in smart phones, increase in internet connectivity, increase in mobile connectivity combined with the digital infrastructure enhanced by the Govt. of India's Digital India initiatives results in new technology aided banking products.
Union Bank of India, Serving the nation since 1919, understands the requirements of the youngsters in addition to other customers. Bank has developed technology enabled Digital Banking products in addition to its traditional banking products for the customers to shoulder on Bank.
Acquiring Customers using Digital Products:
Union Selfie is a mobile based SB account opening application which makes the account opening process as easy, convenient and comfortable for the prospective customer and Union Bank of India is the first PSB to launch this.
Online account opening: Bank makes the SB account opening for the prospect as simple & convenient through internet.
Tabulous Banking: Union Bank is the 1st PSB to launch a tablet based Savings Bank account opening under its initiative for ease of account opening.
e-KYC: Bank uses e-KYC for opening SB account based on Aadhar number using biometric authentication.
Mobile based Products:
This story is from the October 2016 edition of BANKING FINANCE.
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This story is from the October 2016 edition of BANKING FINANCE.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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