Case study - Union Experience: towards excellence in retail banking

Abstract

It is recognized that retail banking in India offers opportunities for growth in the backdrop of growing middle class, increasing market, and an enhanced demand for various retail products. Indian banks are keen to have a strong presence in retail banking. In order to better serve retail banking, banks need to transform their retail banking model with an objective to improve sales, migrate to alternate channels, enhance customer experience, and empower employees. Union Bank of India set an aspiration to become number one retail bank in customer service excellence. The bank conceived Project “Navnirman” and later called it “Union Experience.” The case study analyzes the global outlook in retail banking and discusses retail banking. The case provides a glimpse of transformation in retail banking at Union Bank of India and how the transformation and customer service initiatives were implemented at the bank.