Search
Banks go big on partnerships to expand services
January 19, 2023
As the economy recovers from the pandemic, banks are going aggressive with partnership models to expand their services and get new customers.
Both public and private banks have been on a partnership spree in recent months to bring more customers on board. Lenders have also introduced offers by way of new debit and credit cards, digital banking services, and lending rates.
State Bank of India, the country’s largest lender, has tied up with about 20 companies over the past five months to offer services ranging from digital banking and financial payment options to credit facilities. The lender recently partnered with Warehouse Development Regulatory Authority to provide low-interest rate loans to farmers. SBI also partnered with motorcycle company Jawa Yezdi to provide financial options to its customers.
Canara Bank, another public sector lender, has joined with National E-Governance Service Ltd. to expand its digital banking services. The lender will offer a digital workflow of bank guarantees that will eliminate physical insurance, stamping, verification, and paper-based record maintenance.
Among private sector lenders, Axis Bank has tied up with OPEN, a digital banking enterprise, to provide digital current account services for its various customer segments.
Important Links:
- 4-IN-1 Professional Diploma in Banking, Financial Services & Insurance (PDBFSI): https://ask.careers/courses/4-in-1-professional-diploma-in-banking-financial-services-insurance-pdbfsi/
- Mumbai: https://ask.careers/cities/mumbai/
- TSCFM: https://ask.careers/institutes/tscfm/
