The Business Bytes
TBB BUREAU
NEW DELHI, APRIL 12, 2021
Celebrating its illustrious legacy of 127 years of service to the nation, Punjab National Bank on Monday launched a unique pilot project PNB@Ease outlet. The model offers “Banking-on-the-Go” service where every transaction undertaken by a bank branch will be initiated and authorized by the customers themselves. The service can range from savings accounts opening to availing various loans and more, without visiting a branch or help from the bank employees.
Going forward, the Bank would roll out PNB@Ease across 165 identified locations in India. With an option to get assisted by bank staff, PNB @Ease outlets will be loaded with five Kiosks i.e. ATM, Bunch Note Acceptor, Account Opening Kiosk, Card Issuance Kiosk and internet-enabled Kiosk. This facility will enable the customers to avail all banking services under one roof. Additionally, PNB@Ease outlets would boost the Bank’s distribution capability and lower the cost of customer acquisition.
First such multi-functional outlet was inaugurated by Debasish Panda, Secretary and Pankaj Jain, Additional Secretary, Department of Financial Services at the Central Secretariat Metro Station, New Delhi on Monday.
On its 127th foundation day, PNB announced various digital initiatives such as instant opening of online saving account via video-KYC, insta pre-approved loan, insta demat account and insurance facility through internet and mobile banking services.
Congratulating PNB on becoming one of the largest public sector bank post amalgamation and wishing it achieve greater heights, chief guest of the ceremony Debasish Panda said, “Today’s launch demonstrates PNB’s ability to adopt the latest technology to stay ahead of the curve. Instead of developing the technology in-house, banks can collaborate with fintech and startups for digital transformation while staying focused on its larger role of credit growth and financial inclusion for the country.”
Pankaj Jain complimented the Bank on its digital initiatives and emphasized the need for continuous technological up-gradation and customer service.
Thanking customers, employees and other stakeholders for their selfless contribution and support during the challenging times, PNB Managing Director & CEO CH S S Mallikarjuna said, “127th Foundation day of PNB is a momentous occasion for us in line with our legacy. Despite the challenges put forward by the pandemic, we have seamlessly amalgamated two banks with us. The integration of technology, people and business, was completed in record time enabling us to tap the growth opportunities. Customer service is paramount to us and to continue to serve the customers better, we have taken a few initiatives in the area of digitalization. These include PNB@ease outlet, Online Savings account opening with Video KYC, online Pre-approved personal loan, Online Insta-Demat account and more.”
