Union Bank of India (UBI) has announced that the bank has completed the IT integration. Now all the branches of erstwhile Corporation Bank have come fully under its fold as a result of the amalgamation exercise.
The former Corporation Bank stated that they have migrated all their customers to Union Bank of India’s Core Banking Solution (CBS) successfully within a short period, further they added that the bank has successfully rolled out internet banking, mobile banking, Unified Payments Interface (UPI), immediate payment service (IMPS), FI gateway, treasury, and Swift for erstwhile Corporation Bank customers. This move was taken by the bank to enable the customers to transact seamlessly across branches and delivery channels of Union Bank of India. Earlier, the bank had shifted its ATM switch and ATM terminals to the UBI network. The bank has already accomplished an administrative amalgamation process with the roll-out of a new organizational structure, harmonized products, and processes.
Union Bank of India stated that the entire migration has been completed within a short time with the least inconvenience to customers, by taking measures not to create any change in their account numbers, debit cards, or net banking credentials. The entire migration process was carried out in collaboration with Infosys Limited, Ernst & Young Global Limited (EY), and Boston Consulting Group (BCG). Using the new organizational structure, integrated products, and processes, the bank has already completed an administrative integration process.
Managing Director and Chief Executive Officer of Union Bank of India Mr.Rajkiran Rai G stated that they are delighted to achieve complete integration of all e-CB branches and delivery channels. This creates a huge opportunity for the customers and enhances the capability of the bank to offer more innovative products and services. He further added that in the next phase, all the branches of e-Andhra Bank will also shift to Finacle 10 within the current financial year. On 1 April 2020, the amalgamation of Corporation Bank and Andhra Bank into Union Bank came into effect.
