ACI helped Union Bank of India empower its customers through automated banking services, cutting out time-consuming and frustrating layers of paperwork.
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The challenge
As customer demographics continue to change rapidly in India, the demand for convenient, safe and speedy access to banking services is growing fast. In order to attract new customers and retain its existing clients, Union Bank of India wanted to develop ways of empowering its customers to use automated banking services and cut out the time-consuming and frustrating layers of paperwork that were typically involved.
The solution
Union Bank developed its customer empowerment program using BASE24®, ACI Worldwide’s payments platform, which is used to validate and process customer applications for online, telephone and mobile banking services.
The results
In the space of 18 months, 150,000 customers have created their own internet banking access and an online satisfaction survey has shown that 90 percent of all customers find the new service very convenient. Time delays for providing replacement PINs or new customer PINs have been eliminated.
The program is also seen as a key example of the way that technologically enabled services can create a viable business model for bringing India’s financially excluded population into the formal banking arena.
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