More & More Bank Branches Turning Digital

Banking News

Business Mantra News

  • Many Banks are turning their pilot branches into digital.
  • State Bank of India, Bank of Baroda, Axis Bank & Kotak Mahindra Bank are turning their branches into digital to help their clients.
  • These banks have planned to allow 90% of the transactions through these automated branches.
  • After automation of branches, the staff who shall be free shall be utilized in attracting retail customers.
  • State Bank of India has prepared more than 250 such branches where from opening of an account, printing & issuance of personalized debit card, expert advice for investment is done.
  • Bank of Baroda is also working on this format.
  • Private Sector Kotak Mahindra Bank has also opened 6 e-lobbied and 8 digital branches and bank plans to double this figure within the one year.
  • Whereas as per the ICICI Bank every branch and kiosk is a digital branch and trying to convert to mobile banking.
  • Accordingly every customer of ICICI Bank has the facility to transact his business.

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