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Union Bank No 2 With EASE

Enhanced Access & Service Excellence, Part Of PSB Reforms Agenda

Union Bank has been doing well in areas related to building analytics capabilities

HYDERABAD, Jan 7 (The CONNECT) – Union Bank of India has retained its 2nd  rank in the report on EASE Reforms Index for Q2 FY 2022-23 published by Indian Banks’ Association (IBA). 

Enhanced Access & Service Excellence (EASE) is an initiative by the Centre as part of the PSB Reforms Agenda and is currently under its fifth iteration which focuses on Enhanced Digital experience, Data – driven, Integrated and Inclusive Banking.

Union Bank has been doing well in areas related to building analytics capabilities for retaining and deepening relationships, effective credit monitoring, comprehensive digital collection management system, fraud resilience and cyber security, adopting modern technology capabilities for integrated banking experience, customer centric digital offerings, employee development and better governance measures which resulted the Bank to continue its momentum and retains its position as the overall 2nd Best Bank for adopting various reforms prescribed for Public Sector Banks.

The performance of PSBs is measured on five themes under EASE 5.0, in which, Union Bank of India has set the benchmark under the two themes – ‘Big data and analytics’ and ‘Modern Technology Capabilities’ by securing 1st rank amongst PSBs. Bank has also achieved 1st runner-up position in theme “Employee development and Governance” and 2nd runner – up position in the theme “Digitally – enabled customer offerings”.

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