PSBs are undertaking new measures as part of the banks' reform agenda, Enhanced Access and Service Excellence (EASE 5.0)
With an aim to move toward more data-driven decision-making, public sector banks (PSBs) will create specialised verticals for big data and analytics, reported The Economic Times. The move is in response to the government's order for financial institutions to improve data-driven, integrated, and inclusive banking.
Public sector banks will also introduce digital-only products and services in the next one year with minimal data entry requirements, automated checks, and underwriting for individual consumers and micro, small, and medium-sized businesses.
These metrics will be part of the banks' reform agenda, Enhanced Access and Service Excellence (EASE 5.0), according to a senior bank
First Published: Sep 29 2022 | 9:11 AM IST