Union Bank of India is planning to double the strength of its ATMs to 5,000 by the end of this fiscal and around 130 of the new ATMs are to be set up in Tamil Nadu , according to Mr Lalit Sinha, General Manager (Alternate Channels and New Initiative Department).
The bank has been working towards taking 60 per cent of its total transactions to electronic modes outside the branches. Electronic transactions constituted 35 per cent of the total transactions in 2009. Last year, it had gone up to 50 per cent, he said addressing a press conference here on Tuesday.
The bank won the ‘ACI Excellence Award' 2011 for the project, ‘customer empowerment using ACI solution BASE 24,' in the payment transformation category, he said.
The bank had implemented a new concept, ‘cashless transaction,' on a pilot basis at an university in Madhya Pradesh, he added.
Online transactions
Over a million online transactions have been made under this initiative in just nine months. A survey found that 96 per cent of the bank's Internet account users were satisfied with the performance, he added.