Indian Bank rolls out a bouquet of Digital products as part of “Project WAVE”

Indian Bank today announced several digital initiatives under “Project WAVE” for enhancing the customer experience through integrated services on its digital platform.

Shri. S.L Jain, MD & CEO, Indian Bank launched 06 Digital products for customers in the presence of Executive Director of the Bank, Shri Imran Amin Siddiqui along with Shri Sharad Mathur, MD & CEO, Universal Sompo General Insurance Co. Ltd at Chennai.

Indian Bank ties-up with Universal Sompo General Insurance. To provide online vehicle (02-Wheeler and 04-Wheeler) and health insurance through the Bank’s mobile banking app IndOASIS.

This digital collaboration would enable Bank’s customers to access and buy general insurance products digitally. Thus augmenting the insurance inclusion in India.

To offer jewel loan at customer doorsteps under Co-lending arrangement. Bank has partnered with Rupeek Capital Pvt Ltd, an asset backed digital lending fintech platform.

The gold loan journey will be through digital platform. Will not require any physical visit to the Bank branch by the customer. This facility is presently available in select pockets will expand to other locations.

After witnessing success of the instant loan disbursement journey of Pre-Approved Personal Loan (PAPL) launched in April this year for salaried customers and pensioners, Indian Bank has now extended this pre-approved personal loan facility to self-employed customers of the Bank as well.

Bank has now extended the e-OD (Overdraft) facility against Term Deposits opened at branches by individual customers and that were previously offered for e- deposits only.

“Customers of Indian Bank would greatly benefit from the integration of IndOASIS mobile app with Universal Sompo’s retail insurance products, as they can now buy insurance products anytime, anywhere as per their convenience’’.

Shri Mathur said,

“At Indian Bank, our focus is to provide a personalised, seamless digital banking experience to our customers for which we constantly innovate and bring products after understanding their existing and future requirements and preferences. The journeys launched today shall further augment bank’s vision to make banking accessible and affordable to consumer from all walks of life.”

Speaking on the occasion, Shri Jain added,

About Indian Bank

A leading public sector bank with a commanding presence over all of India, was founded in 1907. A whopping 88.06% of the shares are owned by the Indian government.

In 1989, it became the first public sector bank to deploy an ATM in Madras’ Harbour. The Bank has a sizable branch network that includes 6004 branches, 5428 ATMs and BNAs, overseas branches in Singapore and Colombo, and more than 225 foreign correspondent banks.

The amalgamation of Allahabad Bank, a bank with 155 years of history, and Indian Bank had been declared by the Indian government for 2019.

On April 1st, 2020, Indian Bank began operating as an integrated organization. On February 14th, 2021, both banks’ CBS systems were fully integrated.

Indian Bank has consistently strived to upgrade its methods and incorporate the most recent technology. Along with other initiatives, Indian Bank launched MSME Prerana, an online business mentoring PAN India program for MSME businesses.

This was one of their more novel projects. Indian Bank also introduced “Ind Spring Board,” financing for start-ups, and signed an MOU with IIT Madras to support this effort.

Indian Bank has established new standards for offering effective financial services to a variety of clientele over the years and has become a leader in providing first-rate customer support.

This article was shared with Prittle Prattle News as a Press Release.

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