Accenture has won a large transformation contract with United Bank of India (UBI). The consulting firm will in the coming two years provide a large set of management consulting services, including the development of a new operating model, the optimization of the bank's branch network and the improvement of its sales effectiveness. In addition, Accenture will be responsible for managing change management and people-related efforts.
United Bank of India is the largest bank of eastern India. It is based in Kolkata and has more than 1,700 branches spread all over the country.
"The needs of our customers are constantly changing," says Bhaskar Sen, chairman of United Bank of India. "Through our transformation we will embrace new approaches to banking that put our customers in the center, while strengthening profitability". By transforming to a more effective customer-led - rather than product led - channel strategy, UBI shows strong foresight. It is one of the few public sector banks in India to seek to transform itself in this way, and we are proud to collaborate with the bank in its journey" Piyush Singh adds, Managing Director van Accenture's financial services practice in India.
Accenture will advise the bank on ways to develop and optimize its operating model, with a significant focus on strengthening the bank's branch network and other customer channels. This will include assisting UBI with ways to renew and optimize its more than 1,700 branches, enhance the sales-effectiveness of its branch workforce, and improve and refine its branch footprint. Accenture also will help the bank identify ways to increase adoption of digital channels such as online banking and social media.
Het advisory firm will also assist UBI in talent and human resource activities relating from the transformation. Accenture will help with enhancing its manpower planning, establishing performance management systems and by developing a five-year roadmap for developing critical employee skills through training.