NE BUSINESS BUREAU
MUMBAI, MAY 24
RBL Bank announced the launch of several contactless banking initiatives, eliminating the need for physical contact amidst these unprecedented times of COVID-19, a bank release said.
The bank is looking at an increased thrust on digital to offer new-age facilities to its customers. It introduced a host of interesting digital initiatives to ensure seamless, contactless, and convenient banking experience. It provides a range of services on WhatsApp with real-time updates, including information on account balance, credit cards, products, and even opening of a new digital account. The bank also launched instant digital bank account opening from anywhere in India, with a completely paperless onboarding, powered by Video KYC. It is also offering a Virtual debit card in its Mobile app enabling contactless transactions without the need for plastic cards.
Surinder Chawla, Head – Retail Liabilities and Wealth Management, RBL Bank said “Adoption of digital channels has grown by 98% during the year. Our digitally acquired savings account grew 4X during the lockdown period and we anticipate it to grow to 10X in the next quarter. We also expect the digital wave to continue as more customers realise the many benefits of banking on-the-go, especially given the need for safety and hygiene protocols in these times. We will continue our investment in technology and analytics to offer an enhanced service experience to our customers and also bring in more new-age facilities.”
The Bank’s recent initiative, its chatbot “RBL cares”, has responded to more than 1 million customer queries in a month in the lockdown period. The Bank’s ‘MoBank’ app has been consistently rated above 4.5+ in the play store, with unique features like Remote Wipe of the app in case of loss of a device, biometric login, and branch-related transactions like submission of 15 G/H and Re-KYC, etc.
The bank has extended a robust and secured infrastructure through its digital channels like Mobile Banking, Internet Banking, ChatBot, and WhatsApp. Some of the additional contactless banking features include Tap & Pay, Scan & Pay, Debit and Credit Card control, booking Deposits, investing in Mutual Funds, getting a loan, and payment of taxes.
