Chennai-headquartered public sector lender Indian Bank on Monday opened its first centralised Customer Acquisition & Processing Centre (CAPC) in Chennai.
Indian Bank’s steps towards optimisation
Its branches in Tamil Nadu and Puducherry are going to be brought under CAPC before December 2020, and other branches across the country are going to be brought under the CAPCs during a phased manner, said the executive of the Bank Mr. MK Bhattacharya, who inaugurated the CAPC, here.
Over the subsequent 30 days, 40 branches in Chennai are going to be brought under CAPC.
He said the account opening process at the branch might be a very critical, sensitive and time-bound exercise. Regulators expect banks to possess a consolidated view of consumers and their transactions across businesses and jurisdictions.
Capturing accurate data at the time of customer on-boarding is of crucial importance for reducing duplication of labour, risk profiling of consumers, data accuracy for MIS(Management Information System). The accounts opened with due diligence reduces the danger of non-compliance from the regulator’s point of view, he added.
Bhattacharya said with such a centralised unit, it’ll take less time for branches to open the accounts. Chennai is going to be the nerve centre for about 1,000 branches, 1/6th of its total number.
The Indian Bank is an Indian state-owned financial services company established in 1907 and headquartered in Chennai. It assists over 100 million customers, 6,089 branches, 5,022 ATMs, and 1,494 cash deposit machines and is one among the top-performing public sector banks in India. Total transaction of the bank has touched ₹430,000 crores (US$60 billion) as on 31 March 2019.
As per the announcement made by the minister of finance Mrs. Nirmala Sitharaman on 30 August 2019, Allahabad Bank merged from 1 April 2020, making it the seventh-largest bank within the country.
Government of India has initiated various reform measures and structural changes, including recapitalisation plan and introduction of Enhanced Access and Services Excellence (EASE) towards Smart and Tech-enabled banking.
The prime focus this year would get on increasing CASA, curtailing cost, increasing revenue aside from interest, accelerating recovery in respect of impaired assets and containing the extent of NPA. the expansion in business would culminate into improving rock bottom line.
Efficient customer service will still be the main target area with frequent employee and customer connects. Considering the limitations that customers have encountered due to the COVID situation, aggressive promotion of digital channels is going to be encouraged.
In the future, the critical areas identified for thrust would also include loan growth with attention on higher-yielding advances, enticing high rated Corporate accounts offering good yield, conserving capital, pursuing best risk management practices, a quantum jump in non-interest income, reducing operating expense, increased use of alternate channels through innovative technology.