Bank of Maharashtra launches slew of Digital Products & Services
Jul 21, 2023
PNN
Mumbai (Maharashtra) [India], July 21: Bank of Maharashtra, a premier Public Sector Bank in the country, strengthens its digital channels by launching several new products and utilities to enhance the banking experience for both its customers and staff members. These initiatives aim to simplify and streamline various banking processes, making it easier for customers to manage their finances and for staff to assist them effectively. This demonstrates the Bank’s commitment to leveraging technology and innovation and staying ahead in the ever-evolving banking landscape.
A S Rajeev, MD & CEO, Bank of Maharashtra, said, “Bank of Maharashtra will continue to focus on creating digital differentiators with evolving technology, economy & needs of customers.” Rajeev further expressed, “The Bank is envisaging to be among Top Banks, in terms of efficiency in the country, which can only be achieved by exploring the digital channels to the optimum level. Bank will continue to enhance and deliver unparalleled value to our customers.”
Asheesh Pandey, Executive Director of Bank of Maharashtra, said, “Our focus on digitization stems from our unwavering commitment to customer-centricity. By prioritizing the convenience of stakeholders and leveraging digital solutions, the Bank is poised to provide seamless, user-friendly service experience across all touch points and further strengthen its position as the fastest growing PSB in the country.”
Pandey opined, “To make the customer journey more efficient and bolster the bank’s digitization efforts, the Bank has launched end-to-end digitized processes for various banking services. This reflects the Bank’s commitment to staying at the forefront of technology and launching innovative solutions that cater to the evolving needs of the customers in the digital era.”
The Bank has launched an upgraded Mobile Banking app for a better user experience with features like a reduced beneficiary addition period, a unified application for mobile banking & UPI customers, and new features like Shortcut for WhatsApp banking, Account statements, Digital loan balance confirmation, Health & General Insurance policy through STP journey, RE-KYC, Digital Nomination facility, Online Bill Payment and News Section.
To cater to new-age banking users, the Bank has enhanced features on its WhatsApp banking function (+91-7066036640) with Downloadable forms, Instant access to Interest Rate Charts, a Grievance Redressal system, know your IFSC, Bank Holidays, Cyber Security tips, among others, provide greater flexibility and accessibility.
The Bank has also introduced Credit Card payment via Internet Banking & through other UPI platforms, simplified the login process to Internet Banking and is also offering Credit Cards against deposits also add-on credit card features for enhancing customer convenience. Customers can now enrol for UPI registration with their Aadhaar and automate monthly payments through standing instructions. Furthermore, customers can open to open a Public Provident Fund(PPF) to kickstart their investment journey.
To enhance operational efficiency, Bank has onboarded additional products in its LLMS system& has implemented initiatives like “Maha E-power” for uninterrupted power supply & “Remote Account Monitoring system” for compatible account statements for its corporate customers.
Bank has also successfully implemented Robotic Process Automation (RPA) in ten key utilities, which reflects the Bank’s conscious approach to staying at the forefront of the evolving digital landscape.
In addition to these, the Bank has launched several other digital initiatives, including RE-KYC through a web-based dashboard, empanelment Fintech firms & CRILC dashboard improving operational efficiency, transaction processing speed and customer experiences.
Bank is committed to adopting digital initiatives, which positions the Bank as a proactive institution that prioritizes customer needs, efficiency, security and continuous improvement.
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