In an industry-first move, Bank of Baroda has introduced instant digital opening of savings accounts for self-help groups (SHGs) through tablets.
With SHG account opening through bob World-Tabit, the bank has digitised its SHG onboarding process, enabling instant account opening and providing a superior and more convenient banking experience to SHGs. This initiative will also facilitate faster credit linkages for SHGs, supporting the Government of India mission (under Deendayal Antyodaya Yojana – National Rural Livelihood Mission (DAY-NRLM)) and result in ease of banking.
Key Features of bob World – Tabit include:
- Digitisation of the SHG account opening journey for instant account opening and customer onboarding
- Integrated service request registration during the account opening journey such as Personalised Cheque Book, SMS Alerts etc.
- Enhanced user experience for customers
- Built on the Aadhaar ecosystem
Akhil Handa, Chief Digital Officer, Bank of Baroda said, “Bank of Baroda has been consistently working towards providing novel digital offerings to enhance customer experience and facilitate convenient banking facilities. Bob World – Tabit is one more earnest step towards providing easy banking services to SHGs, which shall fuel credit linkages and support the upliftment of rural customers. Going forward, we expect to open around 75% of the total SHG accounts digitally.”