Union Bank mobile app drives new era of digital banking

Since the launch of its mobile application last year, Union Bank has made great strides in popularising the concept of digital banking through its mobile app, with the aim to offer an easy, quick and convenient banking experience to its clients.

Within a brief span of just three months after launch, Union Bank mobile banking app has gained wide popularity within the country’s burgeoning smartphone generation, recording over 10,000 downloads with an activation rate above 80 percent. The volume of financial transactions on the mobile app alone soared above expectations while the aggregate omni-channel transaction volume on all online platforms of the bank was close to one billion Rupees.

Union Bank offers a seamless digital banking experience through its omni-channel proposition, which integrates the bank’s internet banking and mobile banking platforms and makes banking simpler for users through its unique feature of automatic synchronisation with a common password for both platforms.

The mobile app is braced with optimum security features and is well secured with two factor dual authentication based on a one-time password (OTP). Users enjoy the freedom to customise the functions of the app, with self-help assistance for registering for services, checking of fees and tariffs, and more.

Union Bank’s mobile banking app also offers a host of general lifestyle services and integrates with location-based services in addition to the banking services which are typically offered, making it a versatile and ingenious application even for non-customers to add on to their smartphones.

Commenting on the mobile banking app, Union Bank Retail Banking Vice President Chaya Jayawardana said: “Union Bank’s mobile banking app, fulfills the pledge to continue to offer a differentiated banking experience to our clients. This is an extension to our efforts in advancing the bank’s influence within the digital banking landscape. Earlier last year, Union Bank introduced a unique online banking platform and now this online presence is further extended to mobile with more adoptability and flexibility to deliver ultimate convenience to our customers and non-customers alike.”

Union Bank mobile banking app offers a host of banking services at the users’ fingertips. The app enables the users to conduct routine banking activities such as account balance inquiries, cheque status and float inquiries, transaction summary requests, statement requests, loan inquiries, fund transfers, utility bill payments, managing standing instructions and many more. Adding further convenience to its users, the app also facilitates real-time fund transfers to any bank through CEFTS, thus simplifying the process of managing the users’ day-to-day banking routines.

The unique banking app is an information hub and is geared to provide up-to-date information on the bank’s promotions and offers and the latest information on interest rates and foreign exchange rates to the convenience of its users, along with a loan calculator that enables quick self-assessment on the loan installments payable for a desired loan value and an interactive ATM and branch locator that gives information on quick and easy access to banking services.

The bank’s unique mobile app is supplemented with auxiliary lifestyle features including real-time weather updates, news updates and even train schedules, which makes it an ‘all-in-one’ application that eliminates the need to crowd the smartphone with numerous apps for banking, lifestyle, and more.

Union Bank’s mobile banking app is available for download on any smartphone via Google Playstore and Apple iStore. The existing online banking users of Union Bank could simply download the app and get connected through the automatic synchronisation feature. For new users, the registrations for the online banking feature are free and can be done at any Union Bank branch islandwide.