Canara Bank forays into paperless banking; launches first digital branch in Bengaluru

Taking its ambitious vision of moving into cashless banking, Public sector lender Canara Bank has launched its first ‘Digital Banking Branch’ at Spencer Towers in MG Road, Bengaluru.
The branch is reportedly titled “CANDI” and it will aim to provide an end-to-end digital experience to customers.
  • The most attention catching feature of the digital bank is the infusion of artificial intelligence. A humanoid has been introduced to address basic queries of customers on banking products and services.
  • The branch offers a variety of tools and devices that include Customer On-Board Application. These options facilitate instant opening of Savings Bank account by the customer by using fingerprint/ IRIS authentication, printing of the personalised debit card, cheque book, mobile/ Internet banking registration, generation of e-Passheet and issuance of virtual welcome kit.
  • An app-based token and queue management system will enable paperless appointment system with the help of cloud technology.
  • It further offers Digital Challan to facilitate filling up challans digitally by customers at their own convenience for services like cash deposit, fund transfer, and cheque clearing.
  • There is a Digital Feedback System to gather feedback from customers on the services availed by them and video banking to facilitate interaction with remote-site Subject Matter Experts on various categories of retail loans and corporate advances.
  • The branch operates from 8 am to 8 pm on business working days.
  • Further, an interactive touchscreen-based ‘Touch Banking’ is also installed to enable the customers with better understanding pertaining to banking products like car loan, home loan, education loan, mutual fund, life/health insurance and apply online for the products.
With this, the bank becomes the first in the public sector category to initiate artificial intelligence in banking.
Source: http://bit.ly/2wcTVF6

 

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