RBL Bank rallies on collaborating with Google to enhance customer experience

10 Jan 2022 , 11:55 AM

This collaboration will enable better customer data management, and analytics, enabling effective cross-selling within the banks large customer base and subsequently reducing the cost of customer acquisition, significantly. Through Abacus 2.0, RBL Bank aims to provide a superior and holistic one stop solution to its existing and new customers, to seamlessly deliver its different product offerings across channels.

RBL Bank currently has over 4 million urban retail asset and liability customers with a business goal to grow this base to 12-14 million over the next three years. Hence, RBL Bank will leverage Google Clouds secure and scalable infrastructure for seamless customer on-boarding. It will also be the technology foundation for a product-agnostic customer acquisition engine that delivers more inclusive access to multiple products such as payments, deposits, insurance, credit card, investments, secured loans and more.

RBL Bank will also enhance its customer acquisition and product promotion using various digital solutions that Google offers across digital channels, the press statement further highlighted.

Meanwhile, RBL Bank continued to be on the F&O ban list of the exchange today. In January series, it has been under ban list from Thursday. The derivative contracts in the above securities have crossed 95% of the market-wide position limit and hence, are currently on the ban list, as stated by the NSE.

The banks net profit declined 78.63% to Rs 30.80 crore on 2.10% rise in total income to Rs 2,567.65 crore in Q2 FY22 over Q2 FY21.

RBL Bank is a private sector bank. It offers specialized services under five business verticals namely: corporate & institutional banking, commercial banking, branch & business banking, retail assets and treasury and financial markets operations. It currently services over 9.97 million customers through a network of 445 branches, 1,435 business correspondent branches (of which 271 banking outlets) and 386 ATMs spread across 28 Indian states and Union Territories.

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