Indian Bank rolls out a bouquet of Digital products as part of “Project WAVE”

Indian Bank rolls out a bouquet of Digital products as part of “Project WAVE”: Indian Bank, a public sector lender, has launched six new digital initiatives as part of “Project WAVE” with the goal of improving the customer experience by integrating services on its digital platform.

News Highlights

• Indian Bank and Universal Sompo General Insurance have partnered to offer online two- and four-wheeler and health insurance through its mobile banking app IndOASIS. The customers of the bank would be able to access and purchase general insurance products digitally, anytime, anywhere, expanding insurance inclusion in India.
• Indian Bank has partnered with Rupeek Capital Pvt Ltd, an asset-backed digital lending fintech platform, to provide jewel loans at customers’ doorsteps as part of the co-lending arrangement. The customer won’t need to visit the bank physically during the entire process of getting a gold loan because it will all be done online. Currently only available in a few places, this facility will soon be made available in more places.
• In response to the popularity of the Pre-Approved Personal Loan (PAPL), which was introduced in April of this year for pensioners and salaried customers, Indian Bank has now made this instant loan disbursement program available to customers who are self-employed as well.
• Term Deposits opened at branches by individual customers are now eligible for the bank’s e-OD (Overdraft) facility, which was previously only available for e-deposits.

About Indian Bank

• Indian Bank was founded in 1907 and is a public sector bank in India.
• CEO: Shri Shanti Lal Jain
• Founded: 15 August 1907
• Headquarters: Chennai
• Founders: V. Krishnaswamy Iyer, S. Rm. M. Ramaswami Chettiar, S. Rm. M. Annamalai Chettiar
• Tagline: Your Own Bank, Banking That’s Twice As Good