Page 28 - Demo

We have renewed our focus on digital transformation. We are constantly encouraging our customers to conduct their banking operations through digital channels, including internet, phone and mobile banking.
As we are approaching restrained normalcy, we believe that we are well prepared in terms of capital, liquidity, product offerings, technology, digital workflows, partnerships, and distribution to drive our relentless ambition of responsible growth. Some of the measures that we are implementing with speed and agility are:
Investing to increase efficiency and reach
• Limited human contact in loan processing (repeat MicroBanking loans via phone, mobile app
and ATM among others, remodelling housing/MSE processes and prioritising video KYC programme).
• Piloted the collection of EMIs through third-party networks, tie-ups and creating a network of business correspondents.
• Renewed thrust on enabling EMI repayments through online payment platforms like ECS, e-wallets, UPI / QR etc. and drive higher usage.
• Application programming interface (API) platform is ready – we are partnering with fintech and startups operating in payments, collections, lead generation and lending, among others to expand reach inorganically.
• Launched digital SA / FD
– providing an end-to-end un-assisted digital journey to on-board new customers.
• Working towards introducing simpler and user-friendly mobile app, with specific focus on our MicroBanking customers.
• Redefining internal workflows, identifying areas and piloting projects for automation and productivity improvement.
delivering quality products and solutions, offering personalised customer experience to a diversified customer base.
We offer a comprehensive suite
of assets, liabilities, payments, transaction banking, debit cards, insurance and digital products that help us to attract new customers and deepen our relationship with our existing customer base. We are expanding our range of third-party products and services to serve our customers better.
We have renewed our focus on digital transformation. We are constantly encouraging our customers to conduct their banking operations through digital channels, including internet, phone and mobile banking. During the lockdown,
our digital channels helped our customers engage better with the Bank for their queries and concerns.
We have been able to bring about a lot of improvements in our internal workflows by leveraging digital technologies, which have resulted in faster turnaround.
We continue to leverage technology for underwriting and creating credit models to ascertain credit behaviour of various customer segments, and to ensure diversification of our product portfolio. At the same time,
we forayed into API or Open Banking to develop new ecosystems of partnerships with fintechs and other industry participants. We initiated work on Robotic Process Automation (RPA) and successfully moved processes to RPA.
GeaRed Up FoR the neW BUSineSS ecoSYStem
towards the end of the financial year, the COVID-19 pandemic struck India, leading to a nationwide lockdown to arrest the spread of the contagion. We proactively rolled out our business continuity plan, ensuring uninterrupted services
to our customers, while complying with all relevant safety protocols. We were able to stay in touch with nearly 5 million customers through phone calls in March and April. Through these interactions, we spread awareness around COVID-19 and understood the difficulties
that our customers were going through during the lockdown.
We assured our customers of our constant support and explained
the nuances of moratorium in detail. During this time, our teams selflessly volunteered, helping
the marginalised sections and the communities we work with. We are very proud of our colleagues
who went out of their way in displaying the true Ujjivan spirit of customer centricity.
26 | AnnuAl RepoRt 2019-20