MINNETONKA, Minn & MUMBAI, India--(BUSINESS WIRE)--Entrust Datacard today announced that it has launched the first integrated instant issuance kiosk solution in South Asia with State Bank of India (SBI). This is also the first instant EMV chip card personalization application in Asia – which follows the Reserve Bank of India’s (RBI) regulation.
State Bank of India opened its first set of seven outlets immersed with digital capabilities in prime business districts and shopping malls in Mumbai, New Delhi, Bengaluru, Chennai, Kolkata and Ahmedabad. The sbiINTOUCH outlets appeal to India’s burgeoning millennial population. The technology-savvy customers are attracted to the efficient, self-service nature of these outlets, in which they will manage the majority of their business on their own while SBI staff focuses on more value-added advisory transactions.
“India is in the midst of a major demographic transition and we recognize that our customers increasingly expect digital services to help them manage their financial needs,” said Arundhati Bhattacharya, the chairman of State Bank of India. “Today, more than half of India's population is under the age of 25. By 2020, India's average age will be just 29 years – this is a digital demographic: one that expects businesses to provide solutions immediately. At the same time, the mass affluent – no matter what their age have similar expectations. Indian banks need to provide a strong response to these new demands. These branches are a first step in the journey to offering full digital services across the nation.”
“INTOUCH is the start of SBI’s digital journey,” said S K Mishra, deputy managing director, State Bank of India. “This is our attempt to put our brand SBI in touch with the dreams of the aspirational customer. It is a deep rooted transformation that has three aspects: a transformation of the customer experience we deliver; introduction of device centric technology that is at the forefront of our global peers; and transformation of the behavioral model of our staff-base to be even more customer centric.”
From their compact size to their self-service orientation, SBI’s digital outlets are designed for efficiency. Using self-service kiosks, customers can open accounts and access online banking accounts. The customers can also make use of instant debit card issuance kiosks which enable a secure and real time issuance of a fully personalised debit card.
State Bank of India, the largest public sector bank in India is recognized for innovative banking technology. With the vision of “Next Generation Banking with a difference” SBI has decided to implement instant issuance of personalised debit cards in sbiINTOUCH outlets. Entrust Datacard is one of the partners in enabling this unique branch model for the customers to experience instant issuance of personalised debit cards.
“Banking models are evolving and transitioning to meet the needs and requirements of our younger generations,” said Rajiv Singh, managing director of Entrust Datacard, South Asia. “The Datacard® instant issuance kiosk solution will allow SBI to evolve with the market demands of the massive card growth in India, as well as differentiate themselves by providing a powerful new way to drive revenue and engage customers.”
Entrust Datacard currently has over 20,000 instant issuance branch installations worldwide, and millions of cards are issued on their solutions every year. In addition, the Datacard® portfolio has been combined with the Entrust® software authentication platforms that strengthen security in a wide range of identity and transaction ecosystems. Financial organizations can now rely on this bundled offering to include the physical issuance and personalization technology of card programs; and the logical and digital security features for cardholder data and transaction-based applications.
About Entrust Datacard
Consumers, citizens and employees increasingly expect anywhere-anytime experiences — whether they are making purchases, crossing borders, accessing e-gov services or logging onto corporate networks. Entrust Datacard offers the trusted identity and secure transaction technologies that make those experiences reliable and secure. Our solutions range from the physical world of financial cards, passports and ID cards to the digital realm of authentication, certificates and secure communications. More than 2,000 Entrust Datacard employees serve customers in 150 countries worldwide. For more information, visit www.entrustdatacard.com.