The Hindu : Business : Union Bank launches ramped up mobile banking service

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Friday, Jun 19, 2009
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Union Bank launches ramped up mobile banking service

Corporate Reporter

CHENNAI: In its endeavour to provide better services to customers, Union Bank of India unveiled its ramped up mobile banking service on Thursday.

The bank actually introduced its mobile banking services in November last year with restricted features.

The present re-launch is with add-on features to meet the upsurge in demand for mobile banking services.

These include transfer of money to Union Bank account and other bank accounts, airline and movie ticketing, information on cheque status, branch and ATM locations and mini account statement.

Customers can also make bill payments, payment of fees and temple donations through this facility. The services are available both on SMS and GRPS.

Addressing presspersons here, M. V. Nair, Chairman and Managing Director, said even today a substantial portion of business transactions were taking place in cash necessitating the need for holding huge cash balances resulting in avoidable inefficiencies.

Union Bank, by leveraging on 100 per cent of CBS (core banking solutions) networked branches was gradually moving its cash transactions through electronic channels.

The launch of mobile banking, Umobile, would enable customers to make cashless transactions and facilitate and encourage usage of alternative delivery channels.

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