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:
Bu hikaye BANKING FINANCE dergisinin October 2016 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye BANKING FINANCE dergisinin October 2016 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
RBI CIRCULAR
Operational framework for reclassification of Foreign Portfolio Investment to Foreign Direct Investment (FDI) - November 11, 2024
India's Fiscal Discipline: A Path to Economic Stability and Growth
In a significant economic development, the fiscal deficit for the financial year 2023-2024 (FY24) has been recorded at 5.6% of GDP, falling below the government's revised estimate. This unexpected positive outcome highlights effective fiscal management and a recovering economy, offering a ray of optimism amidst global economic uncertainties.
Augmenting Productivity by Embracing Employee Engagement
As the world's largest coffeehouse chain, Starbucks is a brand that understands the value its employees add to the business. At Starbucks, every employee knows they are valued members of the team. It took Starbucks some time to do this. They have prioritized implementing employee-friendly rules from the beginning.
Ethics in Artificial Intelligence: Navigating the Future Responsibly
Ethics in AI encompasses a wide range of issues, including fairness, accountability, transparency, and the potential for bias. At the core of these discussions lies the question: How do we ensure that AI serves humanity rather than undermines it? As AI systems increasingly influence critical areas such as healthcare, finance, and law enforcement, the stakes are high.
Digital Banking: The Need of the Hour
Development of an economy, especially economic growth primarily depends on industrial development. The industries depend on financial institutions support for funds especially from banks. Banks encourage individuals save and mobilise funds from bank deposits.
Cyber Crimes in Banking: India's Battle Against the Digital Menace
The increasing adoption of digital banking services has transformed the way Indian consumers engage with banks. According to research from the Reserve Bank of India (RBI), the country's digital payment ecosystem expanded by approximately 55% between 2021 and 2023.
Legal News
The Supreme Court (SC) ruled that clauses allowing public sector undertakings (PSUs) to unilaterally appoint arbitrators to resolve disputes with private contractors are invalid.
The Rise Of Green Marketing: Driving Sustainable Change
Green marketing refers to the practice of promoting products or services that are environmentally friendly or sustainable. It involves incorporating eco-friendly elements into various aspects of marketing strategies, including product development, packaging, advertising, and distribution.
ICICI Bank partners with PhonePe to offer instant credit on UPI
ICICI Bank announced that it has partnered with PhonePe to offer instant credit on UPI to its pre-approved customers on the app of the digital payments company.
Indiagold Eyes Major Expansion in India's Gold Loan Market
Indiagold, a prominent fintech company specialising in gold loans, is set to disrupt the gold loan industry with its ambitious expansion plans and innovative product offerings.
