In a bid to increase their consumer base, Mangalore-based Corporation Bank has resorted to technology advancement. On 1st July, the bank launched a feature rich savings bank account, called 'CorpCompassion'.
The new account comes with many services which include, SMS banking, Mobile banking, Any branch banking, Internet banking, Multi-city cheque facility, National Electronic Funds Transfer (NEFT) facility, LIC premium payment through Mobile/ATMs, Utility bill payment, Visa money transfer, Mobile recharge, Auto sweep facility and Direct tax collections, Bank's General Manager A Mohan Rao told reporters here. In addition to this, the bank also brings with it a unique service that will make it possible to transfer funds through ATMs.
The bank also intends to help the underprivileged in the society with this endeavour. For every account opened under 'CorpCompassion', the bank will donate Rs 10 for the underprivileged. “This campaign will be for hundred days starting 1st July”, he added.
The Bank is targeting a new customer base of atleast one million during the campaign period itself, he said. "Interestingly, as many as fifty thousand accounts were opened today itself," he added.
Speaking about the fund transfer through ATMs, Rao said that the bank has recently launched the National Electronic Funds Transfer through ATMs thereby becoming the first public sector bank to launch this unique facility through delivery channels-ATMs.
He also said that during the first quarter of the year, the bank has opened 48 new outlets comprising of 20 branches and 28 ATMs.
Corporation Bank was established in the year 1906. It is a public sector bank with 57.17% of its share capital held by the Government of India.