To highlight its venture into developing a Digital Bank within the Bank, Union Bank of India held its first Digital Conclave at the Yashwantrao Chavan Centre in Mumbai.
During the Conclave, Shri Rajkiran Rai G, MD & CEO, announced ‘Union SAMBHAV – World of Opportunities,’ a Future Digital ready transformation project, as well as Union nxt – Do it Yourself, the company ‘s upcoming Super App. The major goal of these digital projects is to provide customers with smarter ways to bank across all segments, with a focus on Do It Yourself.
Five customer-centric digital lending journeys, including Pre-approved Personal Loan, Union Cash, Shishu Mudra Loan, MSME Loan-Auto-renewal, and Agri loan – Auto-renewal, were unveiled during the Digital Conclave, with the new data-driven vibrant products & services on Bank’s Mobile Banking as the primary goal.
The launch of digital applications such as SoftPos and CRM Application was also witnessed at the occasion.
Mobile First, Customer Centricity, Enhanced Operational Efficiency, Reduced TAT, Minimal Clicks, No Branch Visits, and so on are the USPs of these Digital Journeys.
The event also featured a presentation of the Bank’s planned digital projects, which are now in various phases of development before being implemented. Insurance, mutual funds, warehouse finance, GST cash-flow based lending, Tarun & Kishore Mudra loans, co-lending & pool buy-out housing loans, and education loans are all examples of digital enablement.
The Union Bank of India’s Digital Conclave is expected to give the bank a big boost in its efforts to capture the expanding digital industry and establish a robust digital ecosystem. It’s worth noting that Union Bank of India only started “Digitization Vertical” a year ago with the goal of providing a seamless and hassle-free digital journey and enhanced customer experience.
