A business, organisational and process makeover is
on at the Union Bank of India, which is likely to be capped
by an extensive re-branding exercise during the final
stages of implementation.
made over 88-year-old public sector bank will be unveiled
by March - April 2008, in tome for the new financial.
The most visible change will be the new logo, which will
be accompanied by a comprehensive corporate communication
Boston Consulting Group has been appointed as advisor
to the bank for its business and process re-engineering
efforts, the most immediate impact of which will be felt
in the form of a renewed focus on the retail, SME and
office processes such as clearing, account opening, cheque
book issuing and dispatch of account statements are slated
to be spun off from branches to centralised back-offices.
bank has set up a centralised data centre in Mumbai, with
an onsite back-up server and an offsite mirroring facility
in Bangalore. Almost half of the bank''s branch network
has completed migration to this core banking platform,
with the remaining expected to follow suit over the next