Private sector lender Kotak Mahindra Bank went live with ‘Kotak fyn’, an integrated portal developed to offer comprehensive digital banking and value-added services to its business banking and corporate clients.
Services offered by Kotak fyn:
The portal will offer services across all products, including trade & services, account services, payments, and collections and make banking seamless for the bank’s clients.
Significance of this development:
It is expected to reduce complexity and friction for customers. The portal will assure paperless transactions and will offer the facility to unify data across multiple product-specific portals and back-office systems to create a single view of transactions, positions and balances, enabling self-service and driving operational efficiency, the bank said in a statement.
Important takeaways for all competitive exams:
Kotak Mahindra Bank CEO: Uday Kotak;
Kotak Mahindra Bank Headquarters: Mumbai;
Kotak Mahindra Bank Founded: February 2003