Chennai-headquartered Indian Overseas Bank (IOB) has roped in Ernst & Young as its digital consultant to transform its banking services, with an aim to boost digital transactions share.

The bank believes that EY would help it to stay more focussed on leveraging and adopting new technologies and to enhance the service quality and service delivery to its customers.

This initiative would also help the bank accelerate digitalisation in all the areas of banking, including its assets and liability products and services, according to a statement.

"With this new initiative, IOB is poised to attract Millennial customers who are tech-savvy. Bank will now be confident of providing all customers a hassle free and seamless banking experience," said Partha Pratim Sengupta, MD & CEO of IOB.