PSU lender Indian Bank has launched several digital initiatives under “Project WAVE” in a bid to enhance the customer experience through integrated services on its digital platform.

Six digital initiatives were launched by the SL Jain, MD and CEO, Indian Bank, along with Sharad Mathur, MD & CEO, Universal Sompo General Insurance Co.

Digital collaboration

Indian Bank has tied-up with Universal Sompo General Insurance for providing online two- and four-wheeler and health insurance through its mobile banking app IndOASIS. This digital collaboration would enable the bank’s customers to access and buy general insurance products digitally, anytime, anywhere, thus augmenting insurance inclusion in India. 

To offer jewel loans at customers’ doorsteps under the co-lending arrangement, Indian Bank has partnered with Rupeek Capital Pvt Ltd, an asset-backed digital lending fintech platform. The entire gold loan journey will be through a digital platform and will not require any physical visit to the bank by the customer. This facility, presently available in select pockets, will soon be expanded to other locations as well.

“At Indian Bank, our focus is to provide a personalised, seamless digital banking experience to our customers for which we constantly innovate and bring products after understanding their existing and future requirements and preferences. The initiatives launched today shall further augment the bank’s vision to make banking accessible and affordable to the consumer from all walks of life,” SL Jain said.

Encouraged by the success of the Pre-Approved Personal Loan (PAPL), launched in April this year for salaried customers and pensioners, Indian Bank has now extended this instant loan disbursement scheme to self-employed customers as well.

The bank has now extended e-OD (Overdraft) facility against Term Deposits opened at branches by individual customers which were previously offered for e-deposits only.

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