UNION BANK OF INDIA WINS SKOCH GOLD AWARDS – 2018
Mumbai: Union Bank
of India, a leading Public Sector Bank, has won
two “SKOCH Gold Awards” viz.
Banking & Finance Gold for Technology-Strategic Transformation
(Union Samriddhi Kendra model) &
Cyber Security Gold for Governance Risk Management and Compliance Tool.
Union Bank of India also bagged SKOCH
"Order of merit" for
Technology:
Strategic Transformation & Financial inclusion initiatives under top
Banking & Finance Project in India.
SIEM
Tool, Governance Risk Management
Compliance
Tool & Anti DDOS Solution under top cyber
security projects in India.
These
Awards were received by the Bank during 55th SKOCH Summit “The
Economic Manifesto” held on 22nd December 2018 at Constitution Club
of India, New Delhi.
Union Bank’s pioneering & ambitious initiative “Hub
& Spoke Model” for Rural & Semi-Urban branches has been implemented
to improve the asset quality as well as sales productivity of the branches.
Union Samriddhi Kendra is a centralized processing centre which processes and
sanctions all type of loan proposals of spoke branches mapped to it under one
roof. The objectives of the model are to increase sales productivity through
partnerships and dedicated outbound processes; specialized and dedicated credit
cell for improved flow of proposals through digitized (paperless) processing;
rapid adoption of new age Digital channels for increased migration of walk-ins,
ensuring more quality interaction at branch and better customer experience by
providing improved coverage through outlets.
This initiative of the Bank aims to accelerate the
credit flows to Retail, Agri &
MSME sectors through focused sales and marketing, enhance customer service
through improved Turnaround Time, better credit appraisal and developing
expertise required for examining and processing of rural credit, reduce NPA.
Dedicated teams of RDOs are serving rural folk at their doorstep for credit
requirements and bring awareness about social welfare schemes.
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