New Delhi. Celebrating its illustrious legacy of 127 years of service in the country, Punjab National Bank has launched a unique pilot project PNB @ Ease Outlet. The model provides a “banking-on-the-go” service where customers will be able to initiate and authorize every transaction carried out by a bank branch. This includes taking various other benefits including opening a savings account and taking various loans, and for this, the assistance of bank employees will not be necessary. The bank will issue PNB @ Ease at 165 identified locations across India.
The PNB @Ease Outlet will be loaded with five kiosks ie ATM, Bunch Note Acceptor, Account Opening Kiosk, Card Issues Kiosk and Internet-enabled Kiosk with the option of assistance by bank employees. With this facility, customers will be able to avail all banking services under one roof. Additionally, PNB @ Ease outlets will boost the bank’s delivery capacity and reduce the cost of customer acquisition.
The first such multi-functional outlet was inaugurated on Monday at the Central Secretariat Metro Station, New Delhi. Debashish Panda, Secretary, Department of Financial Services and Additional Secretary Pankaj Jain were present on the occasion. On its 127th Foundation Day, PNB announced various digital initiatives. These include opening of online savings account through Video-KYC, Insta Pre-Approved loan, Insta Demat account and taking insurance facility through internet and mobile banking services.
Meanwhile, PNB MD and CEO SS Mallikarjun Rao said, “PNB’s 127th Foundation Day is an important occasion for us in line with our heritage. Despite the challenges faced by the epidemic, we have merged two banks with our technology. Connecting people and business with has been completed in record time which has helped us tap the growth opportunities. Customer service is paramount for us and we have taken some initiatives in the field of digitization to continue to serve customers better. These include pretty much everything, including the PNB @ Ease outlet. “
Debashish Panda, Secretary, Department of Financial Services, congratulated PNB on becoming one of the largest public sector bank after the merger and wished it to achieve greater heights. He said, “Today’s launch showcases PNB’s ability to adopt the latest technology to stay ahead of time. Instead of developing in-house technology, banks focus on their larger role of credit growth and financial inclusion for the country Can collaborate with fintechs and startups for digital transformation while focusing. “
Pankaj Jain, Additional Secretary, Department of Financial Services, commended the bank for the digital initiative and emphasized the need for continuous technological upgradation and customer service.
PNB Digital Products
With the new video-KYC facility of PNB, a new customer can open a savings account in less than 5 minutes. Other new digital services include Insta-Demat Account – a paperless facility launched in collaboration with National Securities Depositories Limited (NSDL). A customer can now open a Demat account based on existing KYC with OTP and bank immediately. Customers can avail online insurance facilities comfortably in their homes through the bank’s Internet and mobile banking services.
Taking a loan is easy
Now the customers eligible for pre-approved loan will no longer have to go to the branch to take a loan. Existing customers can take pre-approved loans online and receive money in their account immediately. PNB uses its state-of-the-art digital analytics technology to complete the credit evaluation of customers and to complete digital documentation using e-contract generation with the e-signature facility of National e-Governance Services Limited (NeSL).