Private sector lender City Union Bank Ltd is accelerating investments in cybersecurity, digital banking and artificial intelligence as part of its strategy to strengthen customer protection and enhance banking services.
The bank said it is continuing to invest aggressively in cybersecurity to ensure customers remain protected against evolving digital threats while building a technology-driven banking platform.
Focus on digital banking
Managing Director & Chief Executive Officer Vijay Anandh, in a letter to shareholders, said the bank aims to redefine the banking experience through digital innovation while retaining the human touch.
CUB’s “Phygital” strategy combines digital convenience with personalised customer service.
The bank is also evaluating the use of artificial intelligence across operations and customer service to improve efficiency and enhance the overall banking experience.
AI and cybersecurity
Vijay Anandh said City Union Bank has established a Centre of Excellence for Artificial Intelligence in collaboration with SASTRA University and industry partners.
The bank plans to leverage the facility to support operational efficiency, strengthen customer service and drive technology-led innovation.
It will continue to focus on technology while keeping customers at the centre of its core banking strategy and employees as the key pillar of its transformation.
Business growth
Chairman G. Mahalingam said the bank continued to expand its presence in the MSME segment by serving businesses across diverse industries while maintaining close monitoring of portfolio quality.
According to him, the bank has also strengthened its focus on the retail and mid-market segments without compromising on borrower credentials, cash flows and financial discipline.
Asset quality
The bank’s sustained recovery efforts have resulted in a decline in both gross and net non-performing assets, reflecting an improvement in asset quality.
Mahalingam said continued investments in technology upgradation and digitalisation are enhancing the overall customer experience while supporting the bank’s long-term growth strategy.