Money & Banking

Syndicate Bank targets 372 ‘Ananya’ branches by month end

Our Bureau Mangaluru | Updated on January 13, 2018 Published on March 05, 2017


Syndicate Bank -- which is implementing ‘Project Ananya’ (business process re-engineering initiative) -- is targeting to transform nearly 10 per cent of its branches as ‘Ananya-transformed’ ones by the end of this month.

Addressing presspersons in Mangaluru on Saturday, Ch SS Mallikarjuna Rao, Executive Director of the bank, said that 372 branches of the bank will be transformed as ‘Ananya’ branches by March 31. As of now, 200 branches have already been transformed as ‘Ananya’ branches.

Another 400 branches will be transformed under this project during the next financial year, he said. The bank had a network of 3858 branches at the end of December 31.

The ‘Ananya-transformed’ branches aim to enhance customer experience, improve sales focus, modernise layout, and improve digital transactions through a dedicated digi-zone, he said.

Asked about the criterion for selecting branches for this transformation, Rao said that ‘Ananya’ branches are being selected based on the customer base. The bank is implementing this transformation project in locations wherever the customer base is high, irrespective of where it is located, he said.

Project Ananya is a two-year transformation initiative taken up by the bank in February 2016 to provide the customers with best service and to improve and modernise the whole bank.

Project Ananya is operating under the four pillars of transformation -- business process re-engineering, digital channels, sales and customer relationship management, and human resources management.

To a query on the bank’s preparedness for the Aadhaar Pay initiative of the government, he said the bank has seeded 78 per cent of its account holders with Aadhaar numbers. The industry average for Aadhaar seeding is around 64 per cent. Syndicate Bank has 4.5 crore customers across the country, he said.

On the other plans, Rao said the bank will open nine more regional offices across the country during the next financial year.

Published on March 05, 2017
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