Union Bank of India is rated the second best bank in terms if implementing reforms mandated for public sector banks, according to the Indian Banks’ Association’s report on EASE Reforms Index for Q1 FY 2022-23.
Union Bank of India has performed well in areas such as enabling various digital journeys for customer convenience, upgrading analytics & big data capabilities for personalised 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, which resulted in the bank moving up two notches in its ranking.
Under EASE 5.0, the performance of PSBs is measured on five themes, with Union Bank of India setting the benchmark on two of them, namely ‘Modern Technology Capabilities’ and ‘Employee Development and Governance.’ The bank also finished first runner-up in the category ‘Digitally – enabled consumer offerings.’
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Enhanced Access & Service Excellence (EASE) is a DFS (GOI) initiative that is currently in its sixth iteration and focuses on Enhanced Digital Experience, Integrated and Inclusive Banking.