Central Bank of India truly described as an All India Bank; holds a prominent place among the Public Sector Banks. Having a widespread network with 3967 branches and 27 extension counters throughout the country, it has been playing an active role in promoting the key thrust areas of agriculture and small medium-large scale industries. With passage of time, it has emerged as a strong, vibrant and proactive
Bank/Financial Super Market thereby fulfilling the emerging needs of the economy through consistent
harmonization of human, financial and technological resources and effective risk control systems
Bank’s purpose behind adopting ‘freebi’ (missed call) - VivaConnect approached Central Bank of India, for the missed call service so that its customers could know their account balance, without the need of sending such requests via SMS on a Short Code i.e. chargeable (Rs. 3/SMS). It also demanded literacy on the part of the customer. Hence, the bank wanted to come with a solution that would overcome these drawbacks.
The proposed ‘freebi’ solution – With VivaConnect’s ‘freebi’ solution, the customers of the bank could get their queries answered in real-time and save cost previously incurred in sending SMS. It also enabled them to check their bank account balance details even at zero pre-paid balance.
Ultimate aftermaths – Considering that 1 minute is utilized per inquiry, it results in a saving of minimum 10 lakh minutes per month of the bank. However, most enquiries are received from Current Account holders due to frequent changes in their account balance. The bank has received “Finoviti Award” from “Business Frontier” for innovation in Banking Products namely Missed Call Alert apart from other three consecutive awards in the same category. The bank now wants to seek One-Time Password (OTP) requests and ATM Feedback service through missed call platform in the near future.