Customer centric approach, adoption of modern technologies and extensive digital channels/products to facilitate integrated and inclusive banking was the highlight of the Bank’s performance in Q1 FY22-23.
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 2nd Best Bank in adopting reforms prescribed for Public Sector Banks.
Union Bank of India has been doing well in areas related to enabling various digital journeys for customer convenience, upgrading analytics & big data capabilities for personalized offerings & proactive reach out to customers, adopting modern technology capabilities for integrated banking experience, collaborative banking for higher efficiency, employee development and better governance measures resulted in Bank improving its rank up by two notches.
The performance of PSBs is measured on five themes under EASE 5.0, in which, Union Bank of India has set the benchmark under the two themes i.e., ‘Modern Technology Capabilities’ and ‘Employee Development and Governance’. Bank has also achieved 1st runner-up position in theme “Digitally – enabled customer offerings”.
Enhanced Access & Service Excellence (EASE) is an initiative by the DFS (GOI) as part of the PSB Reforms Agenda and is currently under its fifth iteration which focuses on Enhanced Digital experience, Integrated and Inclusive Banking.