State Bank of India (SBI) has entered into a Tripartite MOU with the online financial product aggregator ‘bankbazaar.com’ and the bank’s subsidiary SBI CAP Securities Ltd (SSL). As per the partnership, the bank will be able to display its home loan products on bankbazaar.com.
The partnership will help SBI generate leads and provide door-step delivery, thus improve the response time.
The tie up also highlights SBI’s strategy to boost its home loan portfolio by leveraging digital channels and increasing its presence in the digital space.
SBI plans branch overhaul; to focus on digital banking
With focus on more digital branches like InTouch and InTouch Light branches, the State Bank of India (SBI) is planning massive branch overhaul.
The SBI branch network is undergoing a transformation. The bank would relocate existing branches in older parts of cities to newer locations. It would be based on the type as well as need of the clientele.
The bank would also target younger population by opening more e-corners at existing branches.