BoB, Punjab & Sind Bank expanding e-lobbies
K. Venkateswarlu, GM and head Digital Banking & Fintech E-Lobbies at Bank of Baroda, and Harvinder Sachdev, GM-IT at Punjab & Sind Bank, provide updates on their respective e-Lobbies and growth targets
Mehul Dani: How many full e-lobbies have been opened by your bank so far in 201718? What are the major features features?
K. Venkateswarlu: Bank of Baroda has 340 e-lobbies and 618 Baroda Express 24x7 at present. The yearly growth in the past one year is 28%. The dream of any bank customer is to get basic banking services round the clock, without break. This dream comes true with the Baroda e-lobby, a place where automated banking is done without any manual intervention. It is designed to accommodate 5 machines, which can fulfill all the basic banking requirements of any customer, round the clock.
These 5 machines are a cash recycler, an ATM, a multi-function kiosk, a pass book printer and an electronic display system. The multi-function kiosk will enable deposit of a cheque for collection to the customer’s account, provide a receipt with scanned image of the cheque, provide net banking facilities, enable bill payment and many more services. A state of the art self-service pass book printer is equipped with auto flip functionality. An electronic display system is provided in the lobby to offer information on various products of the bank and current interest rates. The cash recycler can accept cash and issue receipt and also dispense cash as an ATM. An ATM is for dispensing cash and an array of other services such as registering for mobile banking facility.
In places where there is a space constraint to provide a full-fledged e-lobby, we are opening Baroda Express 24x7, which is a mini e-lobby, with similar customer experience, sans multi-function kiosk. The Baroda Express 24x7 will contain an ATM, a cash recycler and a self-service pass book printer.
Harvinder Sachdev: At present, Punjab & Sind Bank has a total number of 9 fully operational e-lobbies. These e-lobbies offer banking services 24x7 without any restriction. We have provided the essential facilities in e-lobby such as ATM, BNA (Bunch Note Acceptor), passbook printing kiosk and a PC for internet banking. We are studying the customer experience and feedback to further expand the facilities in the coming year.
Which 3 states have most of these e-lobbies?
Venkateswarlu: The top 3 states for Bank of Baroda e-lobbies are Maharashtra (Mumbai), Karnataka and South Gujarat. The break-up of these e-lobbies within geographical segments is metro (215), urban (96), semi-urban (26) and rural (3).
Harvinder Sachdev: Being a north based bank, most of the e-lobbies of Punjab & Sind Bank are functional in Punjab and Delhi states. At present, all e-lobbies are situated at urban/ metro locations as per usage pattern and demand.
How do you ensure that higher number of transactions happen at such lobbies?
Venkateswarlu: Sikanderpur Metro station is one of the busiest stations in Gurugram with an average daily footfall of 1 lakh people. In order to give a personal touch, we have also placed 2 staff members for assisting the customers resolving their queries and offering other products of the bank. The digital lobby at this station will help customers to deal with day-today transactions and the 2 officials will be assisting them to offer them the experience of a ‘banking on the move’. We have been trying to make a difference - whether it is branding or banking. We have also set up an e-lobby at the Andheri Metro station in Mumbai for the convenience of regular commuters. About 1.5 lakh commuters travel daily from Andheri to different locations in Mumbai Metro.
Harvinder Sachdev: The peak transactions for Punjab & Sind Bank
Venkateswarlu mentions that Bank of Baroda is planning a 20-30% yoy expansion for its e-lobbies