Ujjivan SFB to launch banking app soon

Hyderabad: Ujjivan Small Finance Bank (SFB) opens four branches in the city at Madhapur, Kukkatpally, AS Rao Nagar and Secundarabad on Wednesday. With these, the bank has presence in 25 States and Union territories, where 598 branches serve over 71 lakh customers. It is also in the process of launching a mobile app to offer digital banking services to its customers.

BA Prabhakar, Chairman of Ujjivan SFB says, "Our presence in Telangana reinforces our commitment to becoming the preferred bank for the mass market. Our extensive array of banking products and services will enable us make a significant difference in the lives of people here. We are focused on purpose-led and inclusive growth of the communities we serve across geographies."

Ittira Davis, MD and CEO of Ujjivan Small Finance Bank, said: "With the opening of these four new branches, we intend to build a diversified portfolio of secured and unsecured loans while mobilising retail deposits through our branch network. We are committed to advancing financial and digital inclusion through our ongoing branch network expansion."

"We will be shortly launching a mobile banking app in eight Indian languages for semi-literate and literate customers. Eventually, it will help in opening more accounts on the digital platform. At present, we are testing the app and hopefully introduce it by next month," he informed. Through its extensive array of banking products and services, Ujjivan is dedicated to fostering inclusive growth in Telangana.

As a mass market bank, Ujjivan SFB aims to cultivate a diverse and stable customer base while prioritising digital banking and diversifying revenue streams. The bank currently offers savings and current accounts, deposits, and loans.