United Bank of India (UBI), a public sector lender, is embarking on a transformation programme to enhance its productivity by harnessing technology and operational changes.
UBI has signed an agreement with Accenture, which will provide management consulting advisory services to support the bank’s strategic transformation programme.
“The needs of our customers are constantly changing,” said Bhaskar Sen, chairman and managing director, UBI. “Through our transformation we will embrace new approaches to banking that put our customers -- both existing and prospective – at the centre, while strengthening profitability,” he said.
Accenture will advise the bank on ways to develop and optimise its operating model, with a significant focus on strengthening the bank’s branch network and other customer channels. This will include assisting UBI with ways to renew and optimise its more than 1,700 branches, enhance the sales-effectiveness of its branch workforce, and improve and refine its branch footprint, the bank said in a statement. Accenture also will help the bank identify ways to increase adoption of digital channels such as online banking and social media. “The customer experience determines the success of all financial institutions,” said Piyush Singh, managing director of Accenture’s financial services operating group in India. Under the contract, Accenture also will assist UBI in its talent and human resource strategies by helping to enhance its manpower planning, establish performance management systems that foster meritocracy and by developing a five-year roadmap for developing critical employee skills through training.