Kolkata, April 13 (UNI) Celebrating its illustrious 127-year heritage of serving the nation, Punjab National Bank has launched a unique pilot project PNB @ Ease Outlet.
The model offers a “Banking-on-the-Go” service where every transaction undertaken by a bank branch will be initiated and authorized by the clients themselves.
The service can range from opening savings accounts to using various loans and more, without going to a branch or with the help of bank employees. In the future, the Bank would deploy PNB @ Ease in 165 identified sites in India.
With an option to be assisted by bank staff, PNB @Ease outlets will be equipped with five kiosks, namely an ATM, a bill acceptor, an account opening kiosk, an issuing kiosk cards and a kiosk connected to the Internet. This facility will allow customers to benefit from all banking services under one roof. In addition, the PNB @ Ease outlets would strengthen the Bank’s distribution capacity and reduce the cost of acquiring customers.
The first multifunctional outlet was opened by Sh. Debasish Panda, IAS, Secretary and Sh. Monday, Pankaj Jain, IAS, Additional Secretary, Financial Services Department at Central Secretariat Metro Station, New Delhi.
On its 127th founding day, PNB announced various digital initiatives such as instant opening of an online savings account via video-KYC, insta pre-approved loan, insta demat account and installation of insurance via the Internet and mobile banking services.
Thanking customers, employees and other stakeholders for their selfless contribution and support during difficult times, CH. SS Mallikarjuna Rao – MD and CEO of PNB, said: “The 127th founding day of PNB is a momentous occasion for us, in keeping with our legacy. Despite the challenges brought to the fore by the pandemic, we have seamlessly merged two banks with us. The integration of technology, people and business was completed in record time, which allowed us to exploit growth opportunities. Customer service is essential for us and to continue to improve serving customers, we have taken some initiatives in the field of digitalization, including PNB @ease outlet, online savings account opening with Video KYC, pre-approved online personal loan, Insta-Demat account online and more. ”
Congratulating PNB on becoming one of the largest public sector banks after the merger and wishing it to reach greater heights, the main guest of the ceremony Sh. Debasish Panda, IAS, Secretary – Department of Financial Services , said, “Today’s launch demonstrates PNB’s ability to adopt the latest technology to stay ahead of the game. Instead of developing the technology in-house, banks can collaborate with fintech and digital startups. transformation while remaining focused on its broader role of credit growth and financial inclusion for the country. “
Pankaj Jain, IAS, Additional Secretary – Financial Services Department commended the Bank for its digital initiatives and stressed the need for continuous technology upgrading and customer service.
PNB is stepping up its digital product offerings:
With the new video-KYC function, a new customer can open a savings account in less than 5 minutes. Other new digital services include the insta-demat account – a paperless facility launched in conjunction with National Securities Depositories Ltd (NSDL). A client can now open a Demat account instantly, simply by a DIY approach based on OTP authentication and the existing KYC with the Bank. Customers can also benefit from online insurance services from the comfort of their homes through the Bank’s Internet and mobile banking service.
Pre-approved, paperless instant loan dramatically improves convenience:
Customers eligible for a pre-approved loan will no longer have to go to a branch to qualify for the loan. Existing customers can take the pre-approved loan online and instantly receive the money in their account. PNB leverages its state-of-the-art digital analysis technology to perform online customer credit assessment and execute digital documentation using electronic contract generation with an electronic signature facility from National E-Governance Services Ltd ( NeSL).
PNB Cards & Services subsidiary:
PNB has incorporated a wholly owned subsidiary, PNB Cards & Services Limited, which has been appointed to begin operations and undertake credit card business in a holistic manner. Thus, PNB is now one of the few public sector banks to have a separate credit card service, thus allowing a dedicated management orientation. Being one of India’s largest banks, this move would catalyze wider adoption of credit card payments and ensure contactless payments from a security perspective.
PNB cares about:
As part of its CSR initiative, PNB donated Rs. 3,53,78,890 to PM-CARES FUND on the day of its foundation by welcoming more than 83 lakh clients through its digital campaign “DIGITAL APNAYEN”. The innovative campaign is aligned with the government’s vision of onboarding new users to digital payment methods.
Coffee Table Book on the remarkable journey of fusion and the cybersecurity glossary
PNB unveils a coffee table book, depicting a detailed journey and the successful merger of the Oriental Oriental Bank of Commerce and the United Bank of India with the Punjab National Bank. Another cybersecurity glossary booklet has been launched which compiles all cyberthreats and executives to enrich the knowledge of employees and the masses in general.
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