Bank of Baroda (Bank), one of India’s leading public sector banks, was awarded the Express BFSI Technology Awards 2022 in two categories. bob World, the Bank’s mobile banking platform, won in the Enterprise Mobility category and analytics-driven lending through the Bank’s Digital Lending Platform was adjudged the best in the Analytics/Big Data category.
Further, Bank of Baroda was also conferred with the prestigious Banking Frontiers’ Finnoviti 2022 Award for bob World.
Shri Akhil Handa, Chief Digital Officer, Bank of Baroda said, “The BFSI landscape has been going through a digital revolution for the last many years and at Bank of Baroda we are acutely mindful of the power of Digital in reshaping the industry. Transformative initiatives like bob World and the Bank’s Digital Lending Platform (DLP) are key components of the Bank’s digital ecosystem that helps the Bank in empowering our customers and employees.”
The bob World mobile banking ecosystem, launched in 2021, has over 20 million active users and offers 95% of the retail services of the bank. bob World is an all-in-one app that caters to the financial, non-financial, and lifestyle needs of the Bank’s customers.
In the digital lending space, Bank of Baroda has built a Digital Lending Platform that makes extensive use of analytics and big data to understand customer behaviour, account information and past credit performance to offer pre-approved loans to customers in a seamless manner. The Bank has a dedicated Analytics Centre of Excellence (ACOE) that analyses multiple data sources for targeted cross-sell/up-sell of retail banking products to existing customers.
About Bank of Baroda:
Founded on 20th July, 1908 by Sir Maharaja Sayajirao Gaekwad III, Bank of Baroda is one of the leading commercial banks in India. At 63.97% stake, it is majorly owned by the Government of India. The Bank serves its global customer base of over 150 million through over 46,000 touchpoints spread across 17 countries in five continents. Through Its state-of-the-art digital banking platforms, it provides all banking products and services in a seamless and hassle-free manner. The recently launched bob World mobile app provides customers with a saving, investing, borrowing, and shopping experience, all under one single app. The app also serves non-customers by enabling account opening through video KYC. The Bank’s vision matches its diverse clientele base and instills a sense of trust and security. It is moving well in that direction and bob World is a testimony of its roadmap towards Digital Transformation.
Photo Caption: T P Nanda - Regional Head, Pune District, Bank of Baroda and Shri Rakesh Kumar - Network Dy. General Manager, Pune Zone, Bank of Baroda accept the Express BFSI Technology Awards 2022 on the Bank’s behalf