Indian Bank has launched IB SAATHI (Sustainable Access and Aligning Technology for Holistic Inclusion), a Financial Inclusion (FI) solution aimed at providing an integrated ecosystem for all stakeholders in the financial sector through Business Correspondent (BC) channel, a statement from the bank notified.
IB SAATHI is set to redefine the landscape of FI in India by offering an enhanced user experience through simplified delivery of services, encompassing both basic and value-added offerings to customers through its BC model. With this revamped model, Indian Bank aims to provide basic banking services at all centres for a minimum of four hours per day in fixed outlets. Additionally, BC agents will extend their services directly to the doorsteps of customers, making access to financial services even more convenient and inclusive, the statement added.
It also said that Indian Bank has embarked on a mission to deploy over 5,000 new BCs by March 2024. This effort is expected to bolster the bank’s reach and accessibility, ensuring that more underserved communities have access to essential financial services. By further expanding its existing network of 10,750 BCs and 10 corporate BCs to over 15,000 BCs and 15 corporate BCs, Indian Bank will take a giant stride towards its commitment to FI.
Currently, the bank offers 36 different services to customers through its BC channel. In the upcoming fiscal year 2024-25, it is poised to introduce additional 60 services, thereby providing a wider spectrum of financial solutions to meet the diverse needs of customers across the nation, concluded the statement.
