D+AB=R

            If you are residing in a major Indian city, you might have noticed Andhra Banks’ new Outdoor Advertisement campaign.

            The catchy line says D+AB=R, wherein D means (Dreams)+AB means (Andhra Bank)=R means (Reality).

            The print campaign is to promote Andhra Banks personal loans especially Vehicle and Home Loans.

With all Banks and Financial Institutions running Advertisement campaigns to attract quality clientele into its fold, Andhra Banks advertisement is a differentiator.

            In the recent past, Andhra Bank has won ‘Four Awards in a Row’, i.e

1. Best Bank (Mid-size) awarded by Business World
2. Best Bank under CAMEL Ratings awarded by The Analyst-Magazine
3. Best Bank for Quality of Assets awarded by Business Today
4. Banking Excellence Award – awarded by Bankers Club, Kerala

            The Managing Director’s position was vacant for a while and Mr.Rangarajan, took charge as Chairman and Managing Director on 13/12/2013

Andhra Bank-Drive Up ATM inaugurated.

   Andhra Bank-Drive Up ATM inaugurated.

Andhra Bank has taken 1 more customer-friendly step in the ePayments Arena. On 29/01/2010, Andhra Bank's Executive Director, Sri Anil Girotra, inaugurated  Bank's  1st  Drive Up  ATM  in  India  at  the prestigious  Secunderabad  Club, in Secundrabad.

Hyderabad-Secunderabad are twin cities.

The Details can be can be accessed at Andhra Bank's website, and also at the following links:-

http://ww.smashits.com/video/snoop/590/first-drive-up-atm.html

http://news.webindia123.com/news/articles/India/20100129/1435193.html

Drive Up ATM's will encourage customers to try the other options available in the ATM, apart from the normal routine of withdrawing Cash.

In fact, I personally feel, that the Drive Up ATM's should be accessed for options other than Cash.

What is a Drive Up ATM?

A Drive Up ATM is free standing ATM, in which the customers can execute the ATM Transactions from the comfort of their vehicles.

This is the main differentiator between a Drive Up ATM and a normal ATM.

In a normal ATM, the customers have to enter the ATM Lobby to execute the ATM transactions, however in Drive Up ATM's the customer can execute the transactions from the comfort of their vehicles.

Can this be treated as a Product Launch?

Strictly speaking it is not a product launch, but definitely a sub-product launch.

This can be a good brand-building exercise for Andhra Bank.

Apart from the normal precautions to be adhered in ATM transactions, the customers have to extra-vigilant while accessing a Drive Up ATM.

In my view, this are the most important things to be kept in mind.

1.      Be sure, no one is watching you, when you are withdrawing Cash from a Drive Up ATM.

2.      As far as possible, transact only when you have company with you.

3.      Make sure all passenger car doors are locked and windows are up.

4.      Do not leave your car unlocked or the engine running when you get out to use an ATM.

As Andhra Bank has located it's first Drive Up ATM in Secundrabad Club, the security aspect must have been taken care.

Andhra Bank – Launch of Telebanking

Andhra Bank – Launch of Telebanking

Andhra Bank, has taken one more step to listen to it’s customers by the launch of Tele-Banking.

Tele-banking has been introduced on completion of the Core Banking Solution (CBS) roll-out.

For Tele-Banking to be successful, a CBS in place is a pre-requisite. Otherwise, customer data residing in various Physical Locations, across different Software Platforms, will defeat the Tele-Banking experience.

Hence, in my opinion Andhra Bank has taken the right step of launching Tele-Banking, only after ensuring that CBS is complete.

Tele-Banking is an important tool, to reduce the customer’s queries at the branch level. At the same, Tele-Banking, aids an organization to deliver superior customer service.

The Details of the various current facilities Andhra Bank offers through its Tele-Banking Channel, can be accessed at

http://www.andhrabank.in/scripts/telebanking.aspx

The instructions are simple, easy-to-understand and satisfy 50% of the customer’s requirement.

Of course, like every new launch, there will be initial hiccups. But, I am sure Andhra Bank’s Team; view’s such hiccups, as a learning process, to enhance customer delight.

Delighted customers are those where you anticipate their needs; provide solutions to them before they ask and where you are observing to see if new and/or additional expectations are about ready to be required.

This is all "easy to say and difficult to do"; but, through commitment and practice you will soon achieve positive results. 

To me Tele-Banking is an important tool, for marketing ePayments amongst the customers.

The Customer Service Executives at the Tele-Banking can be guided to recommend ePayments to customers.

I personally feel, that Customer Service Executives, will receive more calls enquiring about RTGS Credits, than any other queries!!!

Product Launch-Andhra Bank-AB Speedway

Product Launch-Andhra Bank-AB Speedway.

Four months ago, Mr, R.S.Reddy’s Andhra Bank’s Chairman and Managing Director, launched a new Product known as AB Speedway, at a function organized in Edison, New Jersey. 

More Details can be accessed @

https://abspeedway.andhrabank.in/info_faq.php

It is nice to know, that Andhra Bank has dedicated a separate webpage for this New Product. The Webpage is comprehensive and quite informative.

AB Speedway aims to tap the NRI’s need for a quick and safe remittance facility.

AP Speedway is a White-Label Product. It rides on Citibank’s QuikRemit   customizable remittance platform.

As per Wikepedia, A white label product or service is a product or service produced by one company (the producer) that other companies (the marketers) rebrand to make it appear as if they made it.

In a way, Andhra Bank has taken a wise decision to White Label an existing product, rather than inventing the wheel. It is a win-win situation for Andhra Bank, Citi, and most importantly Andhra Bank’s NRI Customers.

As the product has been launched 4 months back, I am sure by now; Andhra Bank has got positive feedback, and ironed out, any glitches if any.

The Launch process started in September’2008, with the signing of the Agreement, and ended on June 09, with the launch of the Product as AB Speedway.

Trust Andhra Bank is remitting funds thru RTGS Mode, for Indian Beneficiaries not having account with it.

Andhra Bank- A Leading Public Sector Bank, trying to increase it’s pie of ePayments

Andhra Bank- A Leading Public Sector Bank, trying to increase it’s pie of ePayments

A good number of Public Sector Banks, are waking up to the immense possibilities of ePayments.

Andhra Bank is one such bank, the full text of this development can be accessed at

http://www.thehindubusinessline.com/2009/06/19/stories/2009061952450100.htm

Mr.Mathew Josheph, Deputy General Manager, Andhra Bank, feels that the transaction cost of ePayments as compared to normal banking is very less.

Andhra Bank, in my view, can increase it’s share of ePayments and also it’s CASA Base by -- Installing POS Terminals at APSRTC(Andhra Pradesh State Road Transport Corporation), Ticket Counters.

On an average, the cost of an Overnight Inter-State Ticket is Rs350/-, and 70% of the inter-state travellers are aware of Debit cards, and its benefits.

By installing POS Terminals, Andhra Bank can tap the float funds of APSRTC and also gain experience in marketing ePayments products.

Another untapped segment is the School/College Fees. This is a lucrative segement and again 60-70% parents are aware of the benefits of Debit Cards.

In fact, the above two segments are waiting to be captured by Banks for ePayments and the first-mover will have the last laugh.

Come On Andhra Bank------- You can lead the way for ePayments in Road Corporations and Education sector

Andhra Bank and Sri Venkateswara College – A new path in ePayments

Well surprises never cease, Andhra Bank and Sri Venkateswara College

Address : Dhaula Kuan,

New Delhi-110021.

Web Address : www.svcollege.net

Have taken the lead, in opening a new channel for payment of College Fees.

Sri Venkateswara College will be setting up two credit machines so that parents and students can deposit their fee using credit and debit cards. This is in association with Andhra Bank.

More on the above initiative can be viewed on http://www.moneycontrol.com/watchlist1/searchnews.php?call=687474703a2f2f7777772e696e6469616e657870726573732e636f6d2f6e6577732f6e6f772d7061792d666565732d62792d636172642d61742d76656e6b61746573776172612f3437383130352f

To the best of knowledge, this is the first initiative of this type in our country. The success of this payment mode will depend on the College Authorities and Andhra Bank Staff.

I am sure that this is a win-win situation for both Andhra Bank and Sri Venkateswara College.

It would be a pleasant advertisement, for Sri Venkateswara College, if its sets up a Page on it’s website, high-lighting the number of transactions through the Credit Card Machines.

Welcome more and more ideas in ePayments

Tit-Bits Debit Card – Bankers understanding its latent potential.

Debit Card – Bankers understanding its latent potential.

More and more bankers are jumping into the wagon of Debit Cards.

This interest in the Debit Cards should benefit the customers at large.

An interesting article can be accessed at http://www.moneycontrol.com/watchlist1/searchnews.php?call=687474703a2f2f7777772e74686568696e6475627573696e6573736c696e652e636f6d2f323030392f30362f31392f73746f726965732f323030393036313935323435303130302e68746d

Banks are looking at the 1.5-2% transaction cost earned by them on each Debit Card Swipe. Majority of the Merchant Establishments pass on this transaction cost to the customers.

I opine that the Banks should

01) Charge the Transaction cost at a differential rate, than at a flat rate, from all industries, depending on the Current Account Float .

02) Encourage Merchant Establishments NOT to recover this transaction cost from the customers, by educating them of the benefits of the Debit/Credit POS Terminal.

What I find interesting is that Andhra Bank too has jumped into the Debit Cards Wagon, by understanding the lower transaction costs in cashless(ePayments) transactions.

Debit Cards-The innovative Vehicle to propel ePayments

Andhra Bank-NEFT Timings

Andhra Bank-NEFT Timings
Website	www.andhrabank.in
Total Number of Branches	1410 Branches as on 31 December 2008
Andhra Bank-NEFT Timings	NEFT payment settlement takes place 6 times a day (9.30 am, 10.30 am, 12.00 noon. 1.00 pm, 3.00 pm and 4.00 pm) and 3 times during Saturdays (9.30 am, 10.30 am and 12.00 noon).
Facility Available on Andhra Bank Net Banking	Yes, NEFT facility is available on their Net Banking.
NEFT Cutoff time for Online Transactions	Not available on public domain.
Brand Name for Andhra Bank’s NEFT Scheme	AB  Xpress
Bank Founded on	20th November, 1923
Toll Free Contact Number	1800 425 2905
Email ID for Customer Complaint Resoultion	customerser@andhrabank.co.in
Brief History	Brief History "Andhra Bank" was founded by the eminent freedom  fighter and a multifaceted genius, Dr.Bhogaraju Pattabhi Sitaramayya. The Bank was registered on 20th November 1923 and commenced business on 28th November 1923 with a paid up capital of Rs 1.00 lakh and an authorised capital of Rs 10.00 lakhs.