DIGITALIZATION STRATEGIES OF UNION BANK OF INDIA

According to the Reserve Bank of India (India’s regulator for banking), digital banking refers to present and future electronic banking services provided by a licensed bank for the execution of financial, banking and other transactions, and / or orders / instruments through electronic devices / equipment over websites (i.e. online banking), mobile phones (i.e. mobile banking) or other digital channels as determined by the bank, which involve significant level of process automation and cross-institutional service capabilities running under enhanced technical architecture and differentiated business model / strategy...