• Banking / Finance

South Indian Bank introduces Digital Platform — SIB SWIFTe for hassle free account opening

• Prashant Kapadia
• June 9, 2023

by Prashant Kapadia/NHN

Thrissur/Mumbai: South Indian Bank has introduced SIB SWIFTe, an innovative and customer-centric digital account opening platform that eliminates the hassle of paper-based documentation. This cutting-edge platform prioritizes customer convenience and transforms the account opening process, enabling the bank to swiftly on-board customers in less than five minutes. By providing a seamless start-to-finish digital experience, the platform ensures that opening a Savings Account becomes an absolute pleasure for customers.

This facility brings the branch-like experience to the comfort of customers’ homes, allowing them to connect with bankers at their convenience. SIB SWIFTe, a user-friendly and intuitive interface, provides clear instructions and visual cues to guide both customers and bank representatives through each step, ensuring a seamless and hassle-free experience. By requiring only an Android-enabled mobile phone and a biometric device, this platform empowers customers to open an account with SIB directly from their handheld devices, eliminating the need to visit a physical branch. This initiative primarily targets new-to-bank users above 18 years of age, who possess a valid Aadhaar and/or PAN. With SWIFTe, customers can effortlessly complete the paperless KYC process and embark on their banking journey while enjoying highly competitive interest rates on their savings balances.

Mr. Thomas Joseph K, EVP & Chief Business Officer, South Indian Bank said, “This initiative aligns with our ongoing commitment to integrate technology seamlessly into our services. The interface serves as a testament to our dedication to providing customers with a comprehensive digital experience. It streamlines the account opening process and enables us to extend our reach to a broader customer base. Additionally, it enhances our customers’ enthusiasm for our digital facilities, further satisfying their needs and preferences.

About South Indian Bank : South Indian Bank is a leading Kerala-based Private sector bank with a nationwide presence. The bank’s shares are listed on The Stock Exchange Mumbai (BSE) and The National Stock Exchange of India Ltd., Mumbai (NSE). South Indian Bank has 940 branches, 1167 ATMs and 125 CDR/CDMs across India and a representative office in Dubai, UAE. South Indian Bank is a pioneer in technology-based banking, offering an array of digital products and services. It has one of the youngest workforces in the banking sector in the country. The Bank’s Vision 2024 focuses on the 6 Cs — capital, CASA, cost-to-income, competency building, customer focus, and compliance.