India’s largest banking and financial services company: State Bank of India has embraced digital in a big way. They have conceptualized ‘SBI Intouch’ banking paradigm, which has been described as the ‘next generation banking initiative’.
On their Foundation Day on July 1st, SBI has launched 6 such Digital Branches in New Delhi, Chennai, Kolkata, Ahmedabad and Bangalore. Here is the exact location of these digital branches.
Finance Minister Arun Jaitley inaugurated SBI InTouch Digital branches as he said, “With the innovative technology and user-friendly features at the digital stores, SBI has led the way in digital innovation in the Indian banking industry.”
What is SBI Intouch Digital Branch?
SBI has collaborated with global IT Services behemoth Accenture to create these futuristic digital branches which will offer some of the most advanced banking services.
For example, for the first time in the history of Indian banking, you can now get a debit card within 10 minutes of opening your account!
These branches would be empowered with interactive LCDs mounted on walls, which will help SBI customers to map out their financial plans using SBI’s expertise and assistance.
Instant loan approvals, assistance in choosing investment portfolios, access to latest mutual funds etc are some of the activities which can be accomplished in these branches.
Another very interesting feature would be remote experts who would be instantly available to consult you via video conferencing.
Accenture has helped SBI to design the branch layouts, back end operations of these digital services, integration of all banking processes as well as training of employees and support for ongoing operations.
Check out this introductory video that will give you a glimpse of what SBI InTouch will offer!
Targeted for Internet Savvy Gen Y?
SBI is one of the oldest banks of India, having it’s origin in the 18th century. In today’s age of instant communications and social media, it had to embrace digital for taking their journey ahead. Few months back we had reported how Kotak Mahindra has embraced social media is a big way, and introduced banking specifically for young digital media users.
We had also earlier reported how banks are faring on the social media and digital communications management and the efforts they are putting into this area.
The latest move by SBI to open up digital banking and futuristic branches is a movie in the right direction. It would be interesting to see how SBI customers and the new young, digital media savvy generation responds to this unique initiative.
Do share your views by commenting right here!