Mumbai, March 29, 2020: The proposed amalgamation of Union Bank of India, Andhra Bank and Corporation Bank is progressing as per expected timelines. All the necessary preparation to work as an Amalgamated Entity is in place. All the three great institutions coming together have a strong legacy, unique strengths with enhanced pan India presence which makes the Amalgamated Entity as the 4th largest public sector bank in banking network with a spread of 9600+ branches and 12000+ ATMs. Customer Centricity is the key by bringing in the Best in Class products and services at reduced costs to all its customers. Our sole objective is to reap the benefits of amalgamation like wider network, harmonized products and services, enhanced capital base and increased economies of scale with smooth transition and minimum disruption to customers. In order to enable customers of any of the three banks to conduct operations Interoperability has been built through a specific tool Mobi-Teller is being implemented. Customers will now be able to conduct basic transactions like cash deposit/withdrawal, balance inquiry etc. from any branch of the other two banks as well.
In the wake of COVID 19 outbreak bank has focused on leveraging its technology tools requesting the customers to stay safe and have safe banking. Digital Banking platforms are utilized for operations to minimize physical contact points with higher focus on e-banking and digital channels to mitigate the risk of contact. All features are available on net-banking and mobile banking portals with zero disruption due to amalgamation; as the account numbers, MICR Codes, IFSC Codes, cheque books, the mobile apps, portals, usernames, passwords etc. all remain the same. Also a dedicated Call Center across three banks with Toll Free Numbers along with quick response team & help desk for employees and customers formed at various administrative offices set up for timely resolution to queries. Bank has activated all responsive & pro-active social media channels with FAQs covering all topics hosted on our website.
The current amalgamation will open up avenues for customers to benefit from its capabilities to provide enhanced credit exposure with reduced costs, increased operational efficiency owing to centralized processing channels and enhanced multiple delivery channels with increased outreach.
