Bombay: In an industry first, Bank of Baroda (Bank), one of India’s leading public sector banks, today announced that it has introduced instant digital opening of savings accounts for groups mutual aid (SHG) via tablets (bob World – Tabit) .
With SHG account opening through bob World – Tabit, the Bank has digitized its SHG onboarding process, enabling instant account opening and providing a superior and more convenient banking experience for SHGs. This initiative will also facilitate faster credit links for SHGs, supporting the mission of the Government of India [under Deendayal Antyodaya Yojana – National Rural Livelihood Mission (DAY-NRLM)] and translate into ease of banking.
Key Features of SHG Instant Savings Account via bob World – Tabit:
- Digitization of the SHG account opening journey for instant account opening and customer onboarding
- Integrated recording of service requests during the account opening process such as Personalized Checkbook, SMS Alerts, etc.
- Improved user experience for customers
- Built on the Aadhaar ecosystem
Mr. Akhil Handa, Chief Digital Officer, Bank of Baroda, said, “Bank of Baroda has constantly strived to provide new digital offerings to enhance customer experience and facilitate convenient banking services. In line with this vision, the launch of instant SHG savings account opening via bob World – Tab is a further step towards providing easy banking services to SHGs, which will fuel credit links and support increased rural customers. Going forward, we plan to open approximately 75% of total SHG accounts digitally. »