Bank of Baroda (Bank), one of In India’s leading public sector banks, was awarded the Express BFSI Technology Awards 2022 in two categories. bob World, the Bank’s mobile banking platform, won in the Enterprise Mobility category and analytics-driven lending through the Bank’s Digital Lending Platform was adjudged the best in the Analytics/Big Data category.
Further, the Bank of Baroda was also conferred with the prestigious Banking Frontiers’ Finnoviti 2022 Award for bob World.
Shri Akhil Handa, Chief Digital Officer, Bank of Baroda said, “The BFSI landscape has been going through a digital revolution for the last many years and at Bank of Baroda we are acutely mindful of the power of Digital in reshaping the industry. Transformative initiatives like bob World and the Bank’s Digital Lending Platform (DLP) are key components of the Bank’s digital ecosystem that helps the Bank in empowering our customers and employees.”
The bob World mobile banking ecosystem, launched in 2021, has over 20 million active users and offers 95% of the retail services of the bank. bob World is an all-in-one app that caters to the financial, non-financial, and lifestyle needs of the Bank’s customers.
In the digital lending space, the Bank of Baroda has built a Digital Lending Platform that makes extensive use of analytics and big data to understand customer behavior, account information, and past credit performance to offer pre-approved loans to customers in a seamless manner. The Bank has a dedicated Analytics Centre of Excellence (ACOE) that analyses multiple data sources for targeted cross-sell/up-sell of retail banking products to existing customers.