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Bank of Maharashtra rolls out myriad of Digital Banking products

By Gloria Mathias

August 08, 2023

  • Account Statement
  • Bank of Maharashtra
  • Boston Consulting Group
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Bank Of Maharashtra, Digital Banking Products, Digital Services, UPI, Payments, Online Transactions, KYC, Maharashtra, India FinTech Bank of Maharashtra, an Indian Public Sector Bank, strengthens its digital channels by launching several new products and utilities to enhance the banking experience for its customers and staff members.

These initiatives aim to streamline various banking processes, making it easier for customers to manage their finances and for staff to assist them effectively.

A S Rajeev, MD & CEO, Bank of Maharashtra said, “Bank of Maharashtra will continue to focus on creating digital differentiators with evolving technology, economy & needs of customers. The Bank envisages to be among Top Banks in terms of efficiency in the country, which can only be achieved by exploring the digital channels to the optimum level.”

The Bank has launched an upgraded version of the Bank’s existing Mobile Banking application integrating it as a single unified application for all its mobile banking and UPI customers. With this unified application, customers can manage their accounts, perform transactions, and make faster payments seamlessly within a single interface.

Asheesh Pandey, Executive Director, Bank of Maharashtra, said.” Our focus on digitization stems from our unwavering commitment to customer-centricity. By prioritizing the convenience of stakeholders and leveraging digital solutions, the Bank is poised to provide seamless, user-friendly service experience across all touch points and further strengthen its position as the fastest growing PSB in the country.”

The Bank has introduced several new features in its Mobile banking application, such as a shortcut for WhatsApp Banking, Account Statement, Digital Loan Balance Confirmation, Health & General Insurance Policy through STP Journey, RE-KYC, Digital Nomination facility, Online Bill Payment, News section, etc.

The Bank has also introduced a Grievance redressal system on its WhatsApp banking function, demonstrating its commitment to customer satisfaction and promptly addressing and resolving any issues they may encounter.

Bank has partnered with Boston Consulting Group (BCG) for Digital Transformation initiatives, aiming to position itself at the forefront of digital innovations in the banking sector through modules encompassing customer journeys across different categories such as asset, liability, wealth, and fee-based income products. Other aspects include FinTech onboarding, compliance enhancement, and automation, through which the Bank strives to improve operational efficiency, elevate customer experience, and embrace a digitally driven future.

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