Taking its ambitious vision of moving into cashless banking, Public sector lender Canara Bank has launched its first ‘Digital Banking Branch’ at Spencer Towers in MG Road, Bengaluru.
The branch is reportedly titled “CANDI” and it will aim to provide an end-to-end digital experience to customers.
As a part of its digital campaign, the bank has unveiled several customer friendly mobile apps. These innovations will enable customers to get most of the information related to their accounts without visiting the branch.
The most eye catching feature of the digital bank is the infusion of artificial intelligence. A humanoid has been introduced in the branch to addresses basic queries of customers on banking products and services.With this, the bank becomes the first in the public sector category to initiate artificial intelligence in banking.
This is a first-of-its kind initiative by a public sector bank in the country.
“The bank is in the process of re-inventing branch strategy and moving towards more digitisation and self-service channels,” said MG Ajayan, GM-IT & CIO of Canara Bank.
“The bank, to push its digital agenda, has equipped itself with a suite of next-generation banking tools which use advanced technology to streamline services and improve efficiency,” he said.
The branch offers a variety of tools and devices that include Customer On-Board Application.These options facilitate instant opening of Savings Bank account by the customer on his own using fingerprint/ IRIS authentication, printing of personalised debit card, cheque book, mobile/ Internet banking registration, generation of e-Passheet and issuance of virtual welcome kit.
An app-based token and queue management system are also provided by the bank to enable paperless appointment system with the help of cloud technology. It further offers Digital Challan to facilitate filling up challans digitally by customers at their own convenience for services like cash deposit, fund transfer, and cheque clearing.
In addition to this, there is a Digital Feedback System to gather feedback from customers on the services availed by them and video banking to facilitate interaction with remote-site Subject Matter Experts on various categories of retail loans and corporate advances. The branch operates from 8 am to 8 pm on business working days.
Further, an interactive touchscreen-based ‘Touch Banking’ is also installed in the branch to enable the customers with better understanding pertaining to banking products like car loan, home loan, education loan, mutual fund, life/health insurance and apply online for the products.