Corporation Bank goes hi-tech in Thiruvalla
25 June 2002
Corporation Bank chairman and managing director K C Varghese elaborated on the banks recently launched techno-savvy products such as Corp Fast, Corp Dial, Corp Reach, Corp Classic and Corp Smart.
In its sustained attempt to incorporate new technology into its banking operations the bank has launched Corp Smart, a combi-card that stores cash in electronic form and enables cardholders to access the member establishments, apart from facilitating withdrawal of cash from ATMs.
Corp Fast is a facility for the fast collection of outstation cheques. Corp Classic is a savings deposit scheme that offers higher returns by automatic transfer of funds above Rs 5,000 to term deposits and breaks the deposit to honour cheques drawn on the account. Corp Dial is a tele-banking facility and Corp Reach provides access to accounts through a computer terminal. In recognition of such endeavours, Corporation Bank has won the Best Bank Award for excellence in banking technology from IDBRT, Hyderabad, for the year 2001.
The bank has already installed 139 inter-connected ATMs in various major towns and cities across India and is in the process of increasing this number to 500 by March 2003.