- Customer centric method, adoption of fashionable applied sciences and intensive digital channels/merchandise to facilitate built-in and inclusive banking was the spotlight of the Bank’s efficiency in Q1 FY22-23
MUMBAI, India, Nov. 10, 2022 /PRNewswire/ — Union Bank of India is ranked 2nd as per the report on EASE Reforms Index for Q1 FY 2022-23 by Indian Banks’ Association (IBA). Union Bank of India is the twond Best Bank in adopting reforms prescribed for Public Sector Banks.
Union Bank of India has been doing effectively in areas associated to enabling numerous digital journeys for buyer comfort, upgrading analytics & large knowledge capabilities for customized choices & proactive attain out to prospects, adopting fashionable know-how capabilities for built-in banking expertise, collaborative banking for larger effectivity, worker improvement and higher governance measures resulted in Bank enhancing its rank up by two notches.
The efficiency of PSBs is measured on 5 themes below EASE 5.0, in which, Union Bank of India has set the benchmark below the 2 themes i.e., ‘Modern Technology Capabilities’ and ‘Employee Development and Governance’. The financial institution has additionally achieved 1st runner-up place in theme ‘Digitally – enabled buyer choices’.
Enhanced Access & Service Excellence (EASE) is an initiative by the DFS (GOI) as half of the PSB Reforms Agenda and is presently below its fifth iteration which focuses on Enhanced Digital expertise, Integrated and Inclusive Banking.
About Union Bank of India:
Union Bank of India with 8729 Branches, is the fourth largest PSB after amalgamation in phrases of business volumes. The complete business of Union Bank of India has crossed 18 trillion for Sep,2022. Union Bank of India has been in the forefront in providing customised merchandise with very aggressive pricing. The Bank has additionally taken up lot of digital initiatives to empower its prospects with ease of doing business with the Bank. In the latest EASE rankings launched by DFS, Union Bank of India has improved upon its efficiency below numerous parameters, which the Bank attributes to its extremely motivated workforce coupled with cutting-edge know-how initiatives adopted.
