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Finance Minister launched Enhanced Access and Service Excellence (EASE 3.0)

Finance Minister launched Enhanced Access and Service Excellence (EASE 3.0)

On February 26, 2020, Finance Minister Nirmala Sitharaman launched the EASE (Enhanced Access and Service Excellence) 3.0 reform agenda to bring reform in the existence of Public Sector Banks (PSBs) through the use of FinTech, Artificial Intelligence & analytics.

Key Points:

  • EASE 3.0 aims to provide smart, tech-enabled public sector banking experience for India, by establishing paperless and digitally-enabled banking at places where people visit the most like malls, stations etc.
  • Few facilities to be included under the EASE 3.0 reforms agenda are:
  1. Palm Banking for “End-to-end digital delivery of financial service”.
  2. “Banking on Go” via EASE banking outlets at frequently visited spots like malls,      stations, complexes, and campuses.
  3. Digitalising the experience at public sector bank branches.
  • With EASE 3.0, the government is trying to enhance the customer experience with the introduction of features like Dial-a-loan, credit at a click, alternate-data-based lending or other analytics-based credit offers.

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