Mumbai, March 27, 2020: Amidst the pandemic of COVID -19 and amalgamation of banks around the corner, one of India’s largest government-owned banks, Union Bank of India has undertaken a unique digital route to prepare for its upcoming amalgamation.
Union Bank of India is slated for amalgamation with Corporation Bank and Andhra Bank, and had planned to conduct extensive trainings for senior executives, branch managers and branch staff to prepare them for the new products, processes and policies of the amalgamated entity.
However, in the wake of COVID-19, the bank has opted for innovative, digital solutions. Instead of classroom trainings, Union Bank has developed a series of e-learning modules. Branch Managers and other executives are also receiving extensive training via video conference, digital collaboration tools and through videos. A dedicated website has also been set up for this purpose. The Bank hopes this will ensure full compliance with the norms of the national lockdown but at the same time will enable its more than 75,000 employees to be completely equipped to service customers from Day 1.
With a view to support the government’s vision of making India a $5 trillion economy, the amalgamated bank will also launch a variety of new products as well as leverage best in class technology, suited for the new Indian. In order to conclude the process of amalgamation seamlessly in times of social distancing, the bank staff is being re-trained digitally, to be equipped to manage digital transactions for customers across the globe and ensure there are no hindrances to the customers.
The training of all 9,500 branch managers of the amalgamated entity will take place digitally through video conferencing, digital collaboration tools, e-learning modules as well as with videos on new product features and policy changes for Bank Managers. There will be dedicated amalgamation-focused internal website for employees to refer to.
The amalgamation of Andhra Bank & Corporation Bank into Union Bank of India is in full compliance with the objective of creative larger and more efficient banks. Adequate measures are being taken by the bank to ensure the changes within the amalgamated entity will be carried out with little or no disruption for its customer base and employees.