Banks ensure their systems speak to each other for customer service: FM
Finance minister Nirmala Sitharaman on Friday urged banks to ensure that their systems speak to each other so that they are able to serve customers in a better way.
The minister, while delivering the keynote address at the 75th annual meeting of the Indian Banks Association (IBA), said many a time customers are forced to transact with multiple lenders due to which it is important that the systems of one bank talks to that of other. She termed such a mechanism as an artificial wall erected by lenders to protect their turf.
The finance minister also underlined the need for ensuring that banking personnel converse in the local language so that their customers are served better.
Banks need to ensure that their systems speak to each other so that the common man banking with multiple lenders is not inconvenienced. Also, another key element of serving the customer better and more effectively is conversing in the local language, Sitharaman said.
She also said it is essential that banks inv