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Prime UCB plans expansion via e-lobbies

This Surat based bank’s app satisfies all banking needs of its customers:

The last year was the transformation year in banking, and technology has played very vital role in changing the industry faster than expected. Adil Gandhi, Managing Director at Surat based Prime UCB, explains: “Our bank has penetrated on the consumer awareness on mobile banking. We have enhanced our mobile banking app with to include features of all banking needs from one app only. Our bank has 18,000 active mobile banking users. Our mobile app is loaded with all the necessary features. Our customer can even get the detailed statement from our mobile banking app.”

Biz Through Social Media

Prime UCB has expanded use of social media to publish its products. That is also turning into good business for the bank. Gandhi elaborates: “We are pushing social media advertisements and boosting post is helping us to reach our target audience quickly. During last year we have done 11 campaigns and generated leads of 28,000 customers’ data and out of that we have been able to convert 22% as customer in our bank fold.”

Transactions Volume Up

Prime UCB has 50,000 debit card users. Its transactions volume of different channels for FY 2021-22 is quite notable. Gandhi updates: “We have recorded 221,188 transactions at ATMs, amounting to Rs853.2 million, 168,014 POS/ECOM transactions, amounting to Rs313.7 mn, 659,605 IMPS transactions worth Rs7.68 billion, 1,237,798 UPI transactions of Rs26.62 bn and 242,100 NACH transactions to the tune of Rs24.13 bn.”

Digital Banking Branch

Prime UCB is Surat based bank, so most of its business comes from Surat district. Its reach is between Vapi (South Gujarat) to Ahmedabad (Central Gujarat) spread across 11 districts including 2 tribal districts and 38 branches. Prime UCB has not enrolled any distributors or agents so far. Gandhi reveals: “Our bank is planning to start first digital banking branch (e-lobby), which provides customer with all banking needs like cash recyclers / cheque deposit / bill payments / account to account transfer / passbook & statement printing / self-banking kiosk facility. 5 such e-lobbies are planned to be opened in this financial year.”

Interaction Portal

Prime UCB is actively updating its website. Gandhi explains: “Our website also contains entire customer interaction portal for any help and suggestion or complaints. In the same way, customer can have all information related to their deposits, loans and other 3rd party services offered by our bank.”

Auto Mailers For MF Portfolio

Prime UCB is doing substantial mutual fund business, with technology. Gandhi informs: “Now our customers are getting auto mailers for all their portfolio holding / transaction statement / P&L statements / capital gain, etc.”

The bank sends transaction statement of CASA/CCOD accounts as well as holding statement of mutual funds invested through it. Gandhi further states: “Very soon we will be enabling our CBS to capture customer sales of insurance products also. With this very soon we will be able to give 360-degree view statement for customers. Thereby we will be able to maintain customer id-wise total relationship in banking and non-banking business with us.”

Full Fledge Call Centre

Prime UCB has also launched tollfree number to get balance on missed call. The bank also does frequent SMS push for marketing and information sharing. Gandhi reveals: “The current financial year’s agenda is to launch full fledge call centre of the bank, through which we will provide various support facilities like cheque book request, stop payment, balance inquiry, mini statement, blocking / unblocking of debit card, customer complain, customer inquiry.”

High-Tech Results

Prime Cooperative Bank has cast a totally different track in banking within a span of about 28 years because of its high-tech appeal in a number of ways. Prime Bank has proved to be a trendsetter particularly in IT for the cooperative banks in the country. Gandhi claims: “Popularly known as high-tech bank or often called the banking supermarket of south Gujarat, our bank has laid excessive emphasis on high-tech electronic services. Prime Bank is the only bank, which publishes every year its financial results of 31st March-end on the very next day the 1st April due to high-tech work culture, since the inception of the bank. This is considered unique, the highest mark of efficiency based on electronic operations.”

 

 

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