The Enhanced Access and Service Excellence (EASE) program, driven by Indian Banks’ Association (IBA), also stressed on data analytics, automation, and digitization.
Launched in 2018, EASE programme sets a common reforms agenda for public-sector banks every year. EASE aims to foster new-age reforms in Public sector banks (PSBs) to improve profitability, asset quality, customer service and digital capabilities.
The fourth edition of EASE was focussed on technology-enabled simplified and collaborative banking and Finance Minister Nirmala Sitharaman felicitated top performing banks on various parameters, according to a IBA statement.
Indian Bank emerged as the ‘Top Improver’ across all PSBs.
Canara Bank won first prize under the Institutionalizing Prudent Banking category, while under the governance and outcome-centric HR, Union Bank of India was chosen as leader last week.
As part of EASE reforms, banks achieved Rs 6,597 crore of co-lending through partnerships with NBFCs during FY’22. Besides, there was on-boarding of 9.4 crore customers on mobile banking platforms and 79 per cent financial transactions carried out on mobile, and internet banking platforms.
The agenda for the fifth edition of EASE was unveiled earlier this year by the Minister of Finance, it said, adding, the reforms program has now been expanded into EASENext with the introduction of the three-year Strategic Roadmap Program.
EASE 5.0 will continue to focus on driving an enhanced digital experience along with data-driven, integrated, and inclusive banking across all banks, it said.
The three-year Strategic Roadmap will offer each PSB the opportunity to set its own reforms path, contextualized to its starting position and strategic priorities, it added.