Whatsapp & Telegram banking next at Panchganga UCB
Kolhapur based bank will also launch its Facebook & Instagram page to have a presence on social media:
Shree Panchganga Nagari Sahakari B a n k , Ko l h a p u r, u n d e r the chairmanship of Dr. Madhuri Rajiv Kulkarni, with Bhalchandra Dnyandev Salokhe, being vice- chairman, has completed its journey of 50 years in 2022.
One recent area of progress for the bank is ATMs. The bank has installed 3 ATM machines and 1 CRM (cash recycler machine). It is receiving tremendous response from the customers. It also provides 24x7 passbook printing service with a kiosk at all branches and also have a 24x7 facility of cheque collection. Deepak Phadnis, CEO, reveals: “We are also in process of installing 2 more recyclers and we have decided to go with inter-operable cash deposit transactions. Two months after installation, the deposit transactions at the CRM have increased to 600 per month, collecting `5million per month on an average. This helps bank to recover advances as the machine is capable of accepting deposits to loan accounts. Many of the corporate customers are enjoying these services and are truly satisfied. All the ATMs and CRMs are sourced from NCR.”
DATA CENTER, CBS, VENDORS
Panchganga Bank has implemented core banking solution which is live since 16th April 2012, running at the bank’s own data center. According to the latest cyber security controls and guidelines, the bank has implemented its own C-SOC Center to monitor the security controls 24x7. Phadnis informs: “As a part of security, every branch is secured with internet firewalls. We are also maintaining our DR site. Few of our main vendors are List Software, Master Ser vices and Sar vatra Technologies. Employees receive the IT training from CAB RBI, NABARD, Kolhapur District Cooperative Banks’ Association and other regional authorities.”
MOBILE BANKING
Panchganga Bank also has mobile banking facility, which was started way back in 2017.
The application offers customer facilities like account status of all accounts (saving, current, time deposits and loans), mini statement, fund transfer to accounts by RTGS, NEFT, IMPS, same bank and own accounts as well. Phadnis says: “Other VAS services like cheque book request, ATM card blocking request, etc, are also offered to the customers.”
UPI USERS, VOLUME, VALUE UP
On 17 th July 2021 Panchganga Bank onboarded for UPI 2.0 with PAN validation and SI (standing instruction) mandate as an issuer. 5000 customers of the bank are actively using UPI on monthly basis. Phadnis updates: “Before completion of one year, our bank has reached around 10,000 transactions per month, amounting to around `100 million. The size of UPI transactions has risen to 70% of total transactions recorded with our bank.”
ONLINE FRAUD, CYBER THREAT
As a service sector entity, the bank is performing vital role in the education and awareness programs for customers. Different types of educational and awareness programs are conducted by the bank. On the occasion of women’s day, the bank had arranged banking awareness and digital awareness program for working women and leady entrepreneurs. Phadnis elaborates: “Securing customer from online frauds and cyber threats is now the need of the hour. Bank drives a campaign of 10 days for awareness against online frauds, cyber threats and precaution measures. Such awareness programs are also arranged for farmers, small scale traders and shop vendors, businessman, employees and workers of industrial units etc.”
BANK ON WHEELS @ DOORSTEP
While entering into 51st year since inception, Panchganga Bank has started doorstep banking service for senior citizens and specially abled persons, offering services like withdrawal/ deposit of cash, account opening, Cheque/ DD/ PO collection/ deposit, KYC collection, passbook/ statement request, etc. As per RBI guidelines, the bank has decided to enhance/ upgrade doorstep banking for this class of customers. Phadnis states: “In every month, the first visit of this service is free of cost to the customer. Our bank has also started piggi bank account for minor customers. Some of the services with limited risks are allowed to such customers. The main focus is to educate school, collage students and create early awareness for banking. We are also planning to launch a similar concept called `Bank on Wheels’ to reach out to the untouched rural areas around the Kolhapur city.”
DIGITAL MARKETING
Panchganga Bank has a fully equipped website. All the promotions and advertisements are run on this website. The bank also provides SMS banking facility to customers. Phadnis reveals: “In the future, our bank is planning to start WhatsApp and Telegram banking. And we are also going to launch Facebook & Instagram pages to have a presence over social media in near future.”