Mumbai 26th April 2023: Techurate Systems Pvt Ltd, a Global Smart Banking technology company received the award for innovation in “Smart Branch – Enabling Virtual Banking” in the Technoviti Awards 2023. The 9th Edition of Technoviti Awards 2023 was held in Mumbai on the 26th of April. There were 42 nominations that underwent scrutiny by the jury members and EY on the innovative quotient of the product ‘Smart Branch’ before conferring this prestigious award to Techurate.
Reacting to the announcement, Sandeep. P, Co-founder, and Head of Innovations at Techurate said “We are thrilled on receiving this prestigious award. This is a great endorsement of the brilliant work done by all here at Techurate. This recognition will only drive us harder to create more disruptions in innovating banking solutions and strive to achieve larger financial inclusion in under-served markets”
Smart Branch Solution is an intelligent automation solution for Banks to digitalize customer interactions ranging from Onboarding, deposits, withdrawals, etc. It helps replace paper-based systems and promotes Green Banking. The solution comprises paperless workflow management solutions, smart operations, and smart assistants. It also provides Business Analytics and Reporting for management.
The simple and effective user Interface is easy and simple to use for customers. It has image-capture functionality, to capture deposit/withdrawal slips and forms and this process eliminates manual proofing and encoding. Smart branch solutions can be used as a bank’s extended branch through their agents to reach out to customers in remote places where bank branches are not available, which helps in the financial inclusion of small mid-sized cooperative banks. It has a simplified web view for fund transfers without logging into core banking. Inbuilt Tokens Management system to reduce customer wait time and an inbuilt task list and monitoring for the bank user. The smart branch can act as ATM, enabling local retailers as a medium.
“Although India has seen ample technological advancements in banking sector, Indian cooperatives still have a lot to catch up with high-tech resources as compared to commercial banks. Digitization is becoming more popular in areas where financial services are not well-developed or struggling. This means that there is a demand of online financial activities through digital channels, such as mobile apps or websites. This can make financial services more accessible and convenient for people who may not have had access to them before” added Sandeep.