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Indian Bank rolls out a bouquet of Digital products as part of “Project WAVE”

Indian Bank rolls out a bouquet of Digital products as part of "Project WAVE"_50.1

PSU lender Indian Bank has launched several digital initiatives under “Project WAVE” in a bid to enhance the customer experience through integrated services on its digital platform. Six digital initiatives were launched by the SL Jain, MD and CEO, Indian Bank, along with Sharad Mathur, MD & CEO, of Universal Sompo General Insurance Co.

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About the agreements:

  • Indian Bank along with Universal Sompo General Insurance will provide online vehicle and health insurance through its mobile banking app IndOASIS.
  • This digital collaboration would enable the bank’s customers to access and buy general insurance products digitally, anytime, anywhere, thus augmenting the insurance inclusion in India, it said in a statement.
  • Under the co-lending arrangement, Indian Bank has partnered with Rupeek Capital Pvt. Ltd, to offer jewel loans at customer doorsteps. The entire gold loan journey will be through digital platform and not require any physical visit to the bank branch by the customer.
  • This facility which is presently available in select pockets will be soon expanded to other locations as well.
  • The public sector lender has extended pre-approved personal loans to self-employed customers of the bank as well. Since April, it is being offered to salaried customers and pensioners.
  • Indian Bank has now extended e-overdraft facility against term deposits opened at branches by individual customers. Earlier it was offered for e-deposits only.

Important takeaways for all competitive exams:

  • Indian Bank CEO: Shri Shanti Lal Jain;
  • Indian Bank Founded: 15 August 1907;
  • Indian Bank Headquarters: Chennai.

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