Union Bank Of India receives IBSi Global FinTech Innovation Award, 2023

Union Bank Of India receives IBSi Global FinTech Innovation Award, 2023

Mumbai: Union Bank of India has been honored with the International Banking System Intelligence (IBSi) Global FinTech Innovation Award 2023 in the “Best Digital Channel/Platform Implementation” category for its conversational banking initiatives – Union Virtual Connect (UVConn), the Bank’s WhatsApp Banking Channel, and Union Voice Assistant (UVA), the Bank’s Voice Banking channel. This prestigious award, which attracted more than 250 nominations from 106 banks across 49 countries, recognizes financial institutions and technology players for their excellence in making an impact through banking technology implementations and innovations using emerging technologies.

Expressing gratitude for this recognition, Mr. Nitesh Ranjan, Executive Director of Union Bank of India, emphasized, “The Bank’s conversational banking initiative is a significant stride in advancing customer service. This award underscores the Bank’s unwavering commitment to leveraging technology for an enhanced customer experience.”

Mr. Anil Kuril, Chief Technology Officer at Union Bank of India, highlighted that UVConn and UVA are the outcomes of the Bank’s continuous efforts to make banking inclusive and user-friendly. He added, “This recognition validates our efforts to reshape the banking landscape through the strategic implementation of technology. The Bank remains dedicated to leveraging technology, exploring new horizons in banking, and introducing even more innovative and customer-centric solutions.”

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UVConn provides over 40 banking services, including Account Statements, Deposit Interest Certificates, Debit Card and Credit Card services, Form 15 G/H submission, Form 16/16A, and more, in seven different languages. Customers can access UVConn services by sending a simple “Hi” on the Bank’s WhatsApp Business Number 9666606060.

UVA, launched over Amazon Alexa, employs Artificial Intelligence and Natural Language Processing to offer customers an innovative way to access banking services through voice commands from the comfort of their homes. In addition to facilitating banking services, UVA also updates customers on the Bank’s latest offers and schemes. UVA proves especially beneficial for customers with disabilities or impairments who may find it challenging to use traditional banking channels.