Karnataka Bank launches Retail Assets Centre to grow the Retail Assets business & deliver best in class customer experience

Bengaluru, December 11, 2024: Private sector lender Karnataka Bank has announced the launch of its first Retail Assets Centre (RAC) at J P Nagara, Bengaluru to enhance its Retail Banking Services and provide a more streamlined, customer-focused approach to its loan and financial products. The idea is to provide a centralized processing hub called “Retail Assets Centre” (RAC) across all potential business locations / regions bringing together all key departmental functions like Business Coordination, Credit Underwriting, Credit Sanctions, Credit Operations, Disbursements & Post Disbursement Services under one roof, aimed at catering to the growing demand for Retail Loan products.

The Retail Assets Centre will provide a one-stop solution for customers to avail various Retail Loan products, with a focus on quick processing, speedy Turnaround times, competitive pricing, and personalized services at scale. The RAC will also cater to all Channel partners by offering them easier access & interface to submit applications, faster processing times, ability to track their applications to closure and a service touch point for all their queries. By centralizing the Retail Assets business, the Bank aims to improve operational efficiency & grow its Retail Loan book multifold over the next few years.

Speaking on the occasion, Shri Srikrishnan H, MD & CEO of Karnataka Bank, said “at Karnataka Bank, we are committed to providing our customers with innovative and efficient financial solutions. The introduction of the first Retail Assets Centre reflects our vision to be a Customer-Centric Bank that offers a wide range of Retail financial products with a focus on ease of access and timely services. The RACs will be extended to additional locations very soon to serve our customers across the country. He further added, “With the growing demand for Retail Loans, particularly in the Housing and Mortgage based loan sectors, the RAC will play a crucial role in making our Banking services more accessible and efficient. We will soon be adding the MSME loans as well under the RAC structure.”

Expressing his views at the event, Shri Sekhar Rao, Executive Director of Karnataka Bank, highlighted that the Retail Assets Centre will also leverage advanced technology platforms to ensure smooth, hassle-free transactions, from loan application to approvals and disbursements. Customers & Channel Partners will be provided with access to both physical and digital touchpoints for a comprehensive service experience going forward.

Karnataka Bank has long been known for its customer-first approach, and this new initiative is a further testament to its commitment to expanding its Retail Banking footprint and delivering enhanced value to its esteemed customers.