No Need For Bank Of Baroda Employees To Come To Office! Work From Anywhere Working Model Launched
The public sector bank, Bank of Baroda is moving headstrong with a zeal to provide the best tailored banking services to its customers and is working on achieving the exact blend of superior quality physical and digital presence, including operations of an end-to-end digital lending platform.
In its annual report for 2020-21, the state-owned bank has elaborately stated its current work conducted on providing the employees with a flexible working module, including the ‘Work from Anywhere’ and hybrid work model regimes.
This is done keeping in mind a healthy work-life balance and productivity enhancement for its employees in the longer run.
Work From Home Measures Taken by BoB
In its annual report for 2020-21, the state-owned BoB has stated the importance of devising a flexible working model for its employees, which will play a major role in boosting their productivity at a longer run.
“The bank is working on an operating model for remote working options for certain roles and hybrid employment formats which will offer greater flexibility to employees,” stated the bank.
The report also mentioned that in the process of curating such a working model, the bank will make sure to make the work environment more flexible and introduce work from anywhere regime to select roles.
“Employees will get remote working options for certain roles and hybrid employment formats”, added Bank of Baroda Managing Director and CEO Sanjiv Chadha.
Digitisation of Banking Services: A Major Agenda
Bank of Baroda has pressed significantly on the issue of digitising its banking services to the state of art standards, especially in the time of the Covid-19 pandemic.
It stated that the work environment saw some significant changes during the pandemic. Despite repetitive phases of lockdown, the bank successfully managed to provide its services and played a key role in implementing various economic measures announced by the government and the RBI.
BoB’s Chairman Hasmukh Adhia, in his statement to stakeholders said that the need for digitally providing banking services has never been more desperate than the current times.
The bank has been digitising its operations and services, in efforts to enhance customer experience. It has also revamped its mobile application, adding more services offering digital solutions in it.
Adhia added, “The bank has now extended its digital offering on the asset side as well by building a digital lending platform wherein end-to-end customer journey from sourcing to sanction to disbursement is being completely digitised.”
BoB’s ‘BOB NOWW’ Initiative
The public sector bank has introduced a new initiative, called the ‘BOB NOWW’, which stands for Bank of Baroda’s New Operating model and Ways of Working.
It aims at finding the perfect mix of physical and digital presence, by ‘right-sizing its branch network by increasing customer touch points through digital formats and business correspondent network’, states Business insider.
The bank’s investments in offering digital solutions to customers have garnered them their success for digital transformation and adaptation.
Chadha states, “BOB-NOWW is the new pathway for profitable and sustainable growth. At its core, the aim is to better serve customers with tailored offerings and to enhance customer centricity.”