State Bank of India (SBI), the nation's largest bank, has launched six
digital branches across the country, as part of a pioneering program to
offer next generation banking solutions to India's growing mobile phone
and internet-savvy customer base. The bank engaged Accenture
(NYSE:ACN) to develop the digital business strategy for its branch
program, which features a range of advanced digital banking
capabilities, including instant account opening with personalized debit
cards, instant loan approvals for car and home loans and remote expert
advisors available via video links. Accenture helped SBI in designing
the branch layouts, implementing the digital processes and technology at
the branches, and providing back-end integration, including employee
training.
SBI aims to transform the customer experience by delivering world-class
service through all of its customer channels. Its new branches, branded
as sbiINTOUCH, are equipped with interactive wall and table displays;
remote experts that can be reached instantly via high-definition
videoconferencing; and multi-function kiosks that provide services such
as instant account opening with personalized debit cards, and instant
in-principle approvals for home, auto or education loans. The branches
are located in major metropolitan areas across India, including Mumbai,
Delhi, Bengaluru, Chennai and Ahmedabad.
“India is in the midst of a major demographic transition and we
recognize that our customers increasingly expect digital services to
help them manage their financial needs,” said Arundhati Bhattacharya,
the chairman of State Bank of India. “Today, more than half of India's
population is under the age of 25. By 2020, India's average age will be
just 29 years - this is a digital demographic: one that expects
businesses to provide solutions immediately. At the same time, the
mass-affluent - no matter what their age - have similar expectations.
Indian banks need to provide a strong response to these new demands.
These branches are a first step in the journey to offering full digital
services across the nation.”
“InTouch is the start of SBI’s Digital journey,” said S K Mishra, deputy
managing director, State Bank of India. “This is our attempt to put our
brand in touch with the dreams of the aspirational customer. It’s a deep
rooted transformation that has three aspects: a transformation of the
customer experience we deliver; introduction of device centric
technology that is at the forefront of our global peers; and
transformation of the behavioral model of our staff-base to be even more
customer centric.”
“India has an opportunity to become a world leader in digital banking
services, and we are pleased to collaborate with the leadership team of
the State Bank of India,” said Piyush Singh, managing director and head
of Accenture's Financial Services operating group in India. “By putting
technology at the heart of their business strategy, India's largest bank
will be at the forefront of the global digital revolution that is
transforming banking.”
The transformative initiative leverages Accenture's deep
banking-industry knowledge and expertise in strategy and
systems-integration, and capabilities in digital marketing, mobility and
analytics from Accenture Digital.
About Accenture
Accenture is a global management consulting, technology services and
outsourcing company, with more than 293,000 people serving clients in
more than 120 countries. Combining unparalleled experience,
comprehensive capabilities across all industries and business functions,
and extensive research on the world’s most successful companies,
Accenture collaborates with clients to help them become high-performance
businesses and governments. The company generated net revenues of
US$28.6 billion for the fiscal year ended Aug. 31, 2013. Its home page
is www.accenture.com.
Accenture Digital, comprised of Accenture
Analytics , Accenture
Interactive and Accenture
Mobility, offers a comprehensive portfolio of business and
technology services across digital marketing, mobility and analytics.
From developing digital strategies to implementing digital technologies
and running digital processes on their behalf, Accenture Digital helps
clients leverage connected and mobile devices; extract insights from
data using analytics; and enrich end-customer experiences and
interactions, delivering tangible results from the virtual world and
driving growth. Learn more about Accenture Digital at www.accenture.com/digital.
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