mobile app<\/a> as the centrepiece for customer transactions and the primary delivery channel for a majority of products and services. Other key priority areas for the bank include a revamp of its corporate banking, international banking and other businesses, expanding its reach through alternate formats, leveraging analytics to drive customised offerings for customers and adopting new ways of working.<\/p>\nThe lender said that during the pandemic, the need to shift working from centralised and large administrative locations to distributed administration and operations became apparent.<\/p>\n
\u201cBoB was able to have the bank fully operational albeit at a fraction of manpower coming to offices, keeping safety of its employees paramount. This has raised interesting possibilities on both need for right manpower and location of this manpower,\u201d the bank said in the RFP. Further, there is a need to infuse many new capabilities and \u201cmany more hands\u201d required to take BoB to serve over a hundred million existing and future customers.<\/p>\n
The consultant will be required to help the bank reimagine the branch through a branch transformation programme, which will include centralisation, digitisation and simplification. They will also help identify people freed from branches to be moved into sales and revenue-generating roles. In the corporate banking segment, BoB plans to capture the entire corporate value chain, including areas such as cash management and advisory. It will also improve its monitoring capabilities, developing tools and dashboards to monitor its corporate portfolio for risk adjusted returns, compliance and early-warning signals on a real-time basis. The international banking group (IBG) will be positioned as a strategic business unit.<\/p>\n
In micro, small and medium enterprises (MSME) lending, BoB will explore partnerships and alliances with a specific focus on co-lending. It will fine-tune and redesign strategies for enhancing commercial vehicle\/ construction equipment (CV\/CE) lending. The bank will also redesign its approach to increase penetration in the gold loans, tractor loans and agro-industries categories, apart from enhancing its reach in micro-lending.<\/p>\n
BoB will analyse the present position in respect of its domestic subsidiaries and recommend measures for unlocking value in all six \u2014 BOBCaps, Baroda Financial Services, Baroda AMC, Baroda Global Shared Services, Baroda Sun Technologies and Nainital Bank.<\/p>\n
The bank will seek the consultant\u2019s help in designing different work-from-home models for various job roles, including security protocol, productivity and output matrices, work from home kit etc. It will also be taking inputs for new products to improve the bank\u2019s net interest margins (NIMs) and spread the risks. This will include recommendations on area-specific products and schemes.<\/p>\n
![\"BoB](\"https:\/\/images.financialexpress.com\/2020\/09\/1-92.jpg\")
![\"\"](\"https:\/\/images.financialexpress.com\/2020\/04\/telegram.png\")