Mumbai: The Bank of Baroda (BOB) will position the new digital platform Bob World as the main bank and all banking channels will be additional for the primary platform.
Public sector lenders adopt a strategy similar to SBI, which seeks to integrate all services on the Yono platform.
Bank of Baroda MD & CEO Sanjiv Chadha told TI that Post Pandemic, the Bank had seen a surge in digital transactions and twice the number of branch visits occurred in the application.
“So instead of being an addition to the bank, it will be a bank and another part of the lender will be additional.
The thought is to activate everything that can be done in the branch in the application,” Chadha said.
“How to Application (Bob World) is positioned, you can save, borrow, invest, and pay.
The four capabilities are in the application and enhanced every day.
In addition to regular transactions, we have things like booking ticket tickets and comparison comparisons in all traders for Bring the cheapest proposition to customers, “Chadha said.
The bank plans to expand the use of applications from retail to business too.
For financial inclusion and to reach people who do not have digital access, banks also doubled the number of business correspondents to 50,000.
“This is a big pride problem for us that while we have a 6-7% share in banks.
Our part in Jan Dhan Yojana is 15%.
We have a very aggressive program to improve our business correspondents and increase their number of two for each branch to Five BCS for each bank branch we have, “Chadha said.
But the bank will not increase the number of employees because it has realized some efficiency after combining Bank Vijaya Bank and Dena, which will allow lenders to move staff.
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