Mumbai November 2022:Union Bank of India, the country’s 5th largest public sector bank, was established on 11th November 1919 and has its first head office inaugurated by the Father of the Nation, Mahatma Gandhi, celebrated its 104th foundation day on 11 November 2022 at MMRDA Ground, BKC, Mumbai. On this occasion, Bank launched a super app – the Union Vyom app & various other digital products.
Union Vyom App, the super app of the Bank, is a one-stop solution for all financial products. The Vyom app is empowered to deliver a unique experience of banking to customers where customers can do transactions beyond traditional banking. Apart from online transactions, customers can avail of Retail, MSME loan, and credit card, make investments in 5000+ mutual fund schemes, and buy insurance products without any assistance. The app is also enabled with lifestyle category products such as booking of flights, hotels, gift cards, cabs, donations & much more.
To continue its legacy of being a tech-savvy and customer-centric bank, the following products were also launched-
- Union Sparsh- Touch debit card, specially designed for the visually impaired.
- Union Muskaan- Zero balance saving account for children of 0-18 years ago, having facility of term insurance, accidental death insurance, SMS banking, NEFT, and IMPS at no cost. Also, avail of education loans at a concessional rate.
- Union Channel Finance- A fully automated financing solution for finance to dealers.
- Union Digi-Sahaj- A online account opening platform to open a saving account instantly.
- Union SARAS- A portal named Stressed Asset Recovery Automated Solution, developed for early resolution and effective management of stressed assets having end-to-end processing automation of all recovery and legal proceedings.
Speaking on the momentous occasion, Ms. A Manimekhalai, MD & CEO, of Union Bank of India affirmed the Bank’s adoption of the latest technologies which transform customers’ experience. Ms. A Manimekhalai, also stated that by launching the Union Vyom app, Bank is ushering into the Digital transformation era. Also reiterated the Bank’s commitment to facilitating innovative banking experiences for its customers through the launch of the super app- Union Vyom app & other products. The motive of launching Union Sparsh (special touch/braille debit card) will bring dreams to life for people with visual disabilities. Union Muskaan as a service will inculcate financial awareness & saving habits in children & also help parents to secure and build a corpus for their child’s future. Union Channel Finance which is highly scalable with the latest security features. Union Digi-Sahaj will aim to empower small & medium businesses, to deliver the best customer experience. Union SARAS portal provides the best & most effective automated recovery systems.