Digital Banking Ecosystems
Accelerating a Seamless Banking Experience
We have developed a strong and dependable digital ecosystem to cater to different customer segments with speed, accuracy, and security. Our digital approach aims to create a bank ready for the future, providing customers with omnichannel, convenient, and affordable solutions while automating most current business processes.
End-to-end Digital Value Chain
Prospecting
- Advanced data modelling: look-alike targeting
- Digital lead generation: capture referrals
Onboarding
- Smart automated messaging to guide clients at all points of the onboarding journey
Servicing
- Seamless payments to people and merchants through UPI and IMPS
- Ease of collection enabled through the BBPS platform
Cross-selling
- Tie-ups and partnerships: platform play to cross-sell via Ujjivan SFB
Our primary focus is achieving financial and digital inclusion for unserved and underserved customers. We have established a robust digital presence by providing a comprehensive range of products and services that cater to various customer segments. We now offer products and services through multiple digital channels, allowing customers to bank at their convenience.
Personal & Business
Internet Banking
- Offer web-based platform(s) that can be accessed from any system
- Provide high-volume bulk upload facility
- Provide Aadhaar OTP authentication for setting and resetting passwords in personal net banking
- Facilitate customisable client-centric approval matrix for business customers
Personal internet banking
customers^
Business internet banking
customers^
Mobile Banking Application
- Available on Android and iOS operating systems
- Available in 9 languages – English, Hindi, Kannada, Tamil, Bengali, Marathi, Gujarati, Punjabi, and Oriya
- Provides Aadhaar OTP authentication for setting and resetting MPIN in mobile banking
Mobile banking application users^
Rating on the Google Play Store
'Hello Ujjivan' Mobile Banking Application
- First-of-its-kind voice and visual-assisted vernacular banking app
- Available in the Android operating system with Voice Search and Voice Assistance
- Available in 8 regional languages and English - Hindi, Marathi, Bengali, Tamil, Gujarati, Kannada, Oriya, and Assamese
'Hello Ujjivan' mobile
banking
application users^
Rating on the Google Play Store
Phone Banking
- Provides 24x7 assisted banking services to customers in-house
- Services customers in 9 languages through the Interactive Voice Response (IVR) system (English, Hindi, Kannada, Tamil, Bengali, Malayalam, Marathi, Gujarati, and Punjabi) and additionally in 5 Languages through human interaction (Telugu, Oriya, Assamese, Nepali, and Bhojpuri)
- Offers 200+ services on phone banking
- Over 130 in-house phone bankers, two units, one unit in Bengaluru, and the other one in Pune, to support as backup
Of over 1 Million customers registered
for access to Indian languages
Customers registered for
languages
other than Hindi and English
Customer calls were answered
during
FY 2022-23
Of calls were answered within 15 seconds
of agreed service levels, and the unit’s uptime was 99%
Transaction Enablers
We have made significant strides in expanding our touchpoints, including ATMs and Auto Cash Recyclers (ACRs). Currently, our Bank operates 457 ATMs and 60 ACRs, providing convenient access to our services. We maintained our position as the top-performing bank among all SFBs in terms of ATM transaction volume. To enhance the customer experience, we have introduced state-of-the-art touchscreen ATMs with multilingual language screens. Additionally, our ATMs feature braille keypads to cater to the needs of visually challenged customers.
ATM uptime
Share of the ATM transactions
among our peer
banks
ATMs and ACRs
Money Mitra serves as our Business Correspondent, offering assisted banking transaction services to our customers. These face-to-face interactions with Money Mitra help build our brand, promote cross-selling opportunities, and enhance overall transaction experiences. Money Mitra is equipped to provide services enabled through mobile technology and digital authentication modes, ensuring convenient and secure banking transactions for our customers. Their role as intermediaries strengthens our reach and enables us to serve a wider customer base effectively.
Money Mitra active branches
Money Mitra agents
Overall contribution to cashless
repayment
Money Mitra (Partner Touchpoints)
We continue to lead in card usage among all SFBs, particularly in ATM channels, where card transactions have grown by 3% while the industry has experienced a decline of 2%. As the largest Debit Card issuer in its industry, we have a card base of 86 Lakhs users. Furthermore, we excelled in card transactions at point-of-sale (POS) terminals, surpassing other SFBs. In terms of card issuance, we achieved a growth rate of 4%, compared to 1% growth in the banking industry and 2% growth in other SFBs
Debit cards transactions in FY
2022-23
Contribution to card usage among all SFBs
Card issuance among all SFBs
Card transactions (across POS) among all SFBs
Debit Card
Expanding the Scale and Scope of Phone Banking
In FY 2022-23, our Phone Banking unit demonstrated strength through realignment and the development of a new roadmap for our strategy. Our Bank's ongoing collaboration with various business units and functions resulted in advancing service standards and enhancing customer acquisition.
We continue to uphold the 'Universal Phone Banker' approach, where all officers are trained to handle any incoming call from our customers. Moreover, the Phone Banking team maintains a gender balance with a 50:50 ratio of employees who possess multi-lingual abilities to assist our customers effectively.
Safe and Convenient Banking
The implementation of 'Straight Through Processes' facilitated our customers’ crucial account-related transactions through phone calls. This encompassed services such as account freezing, UPI services blocking and unblocking, cheque stop payment, internet banking activation and deactivation, mobile banking registration and deactivation, debit card hot-listing, as well as updating email IDs and mobile numbers. These services were made available even during non-banking hours and holidays, resulting in reduced turnaround time (TAT) and enhanced accessibility for our customers.
'First Call Resolution' through ‘Straight Through Processes’ rate achieved, providing customers with high satisfaction when banking with us
New Initiatives for FY 2022-23
Throughout the year, our unit conducted successful pilot programmes for lead qualification
of new customers seeking housing, agricultural products, and Two-wheeler Loans. We also have
effectively piloted Video KYC services, enabling seamless digital onboarding of customers
for savings accounts and fixed deposits. Additionally, our phone banking resources have been
prepared with IRDA certification for the sale of third-party products, which will be
implemented in FY 2023-24.
Furthermore, our phone banking services now include the convenience of booking term deposits
over phone calls, for existing customers. Leveraging the missed-call channel, our Phone
Banking team collaborated with Branch Banking and the Marketing Team to effectively manage
special campaigns for deposits, starting from the Independence Day through the festival
season. Between August and September 2022, a total of 1,385 leads were converted from the
Missed Call Campaign, resulting in a value of
₹ 45 Crores. Additionally, a print media campaign launched in November 2022, which led to
the conversion of 1,350 leads, generating ₹ 40 Crores in deposits.
Customer Connect
To ensure continuous customer engagement, the Phone Banking unit conducted various Customer Connect campaigns, such as Customer Satisfaction Surveys and Welcome Calls for Liability and Asset products. These campaigns aimed to gather valuable customer feedback and requirements, which the Business/Products team utilised to develop suitable products and services.
Customers reached out, and 53% of them responded to our calls and willingly shared their feedback
As we remain committed to delivering an excellent customer experience, we are determined to introduce services that enable customers to conveniently bank with us, positioning Phone Banking as a primary business unit. These upcoming initiatives include:
- Video Banking services to facilitate branch-less banking
- Enhanced and user-friendly IVR system
- Dedicated virtual relationship teams catering to specific customer segments
- Implementation of straight-through processes
- Loan-on-phone services
- Introduction of a voice-bot for simplified and repetitive communications
Contribution to Business
Phone Banking consistently strives to support business
teams and generate value for our Bank by acquiring all products (Assets and Liabilities)
through our Inbound and Outbound channels. During this financial year, Phone Banking channel
has generated 82,446 Leads which includes both deposits and asset products with a conversion
rate of 25%. This cumulative effort amounted to a total value of ₹ 538 Crores for FY
2022-23.
In December 2022, Phone Banking successfully launched the ability to book Term Deposits
over phone calls for existing customers. During the pilot phase, a total of 361 Term
Deposits were booked with a value of ₹ 81 Lakhs. As we progress, this project will gain
momentum and expand further.
Growing API Banking and Fintech Ecosystem Engagement
Our collaboration with the Indian Fintech ecosystem is growing significantly year on year, and we have partnered with various Fintech partners. In FY 2022-23, our primary objective was to stabilise our partnerships and co-create innovative products and business opportunities for our Bank's liability growth.
Our collaboration with the Indian Fintech ecosystem is growing significantly year on year, and we have partnered with various Fintech partners. In FY 2022-23, our primary objective was to stabilise our partnerships and co-create innovative products and business opportunities for our Bank's liability growth.
o grow in this ecosystem, we are collaborating with various Wealth-tech, Personal finance, and other new-age fintechs in the space of Neobanking and TSPs to establish a strong digital presence in the market.
To accommodate a wider range of use cases from the fintech industry, we have a dedicated portal for API banking: www.ujjivansfb.in/apibanking. This portal provides documentation for the entire stack of Bank APIs, allowing fintechs to build prototypes.
In line with our commitment to the fintech ecosystem, we have intensified our focus on liability, specifically targeting the Retail segment through our trusted partners. The portal offers a wide variety of APIs catering to KYC, Lending, Digital onboarding, Regulatory, Liability, and Cards.
Roadmap for FY 2023-24
- Development of digital-specific products (Asset and Liability)
- API stack to offer business banking APIs to current account customers
Outreach Strategies
for FY 2023-24
Digital Innovation Summits: Organise meet-ups with startups in the BFSI domain to explore new ideas and innovative solutions to existing problems.
Industry | Ecosystem Partnerships: Partner with industry-leading tech ecosystem providers such as IBM, AWS, Microsoft, and other Accelerators to increase fintech reach through their network.
Building Incubator Centres Through Academia Partnerships: Partner with the incubation cells of leading academic institutions. Leverage intellectual capital at no cost through Live use cases and ground-level entry for the potential unicorns of tomorrow.
*As of March 31, 2023
^ Inception till date
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