South Indian Bank

Digital & payments

Digital & payments detail

Digital transaction share

98.7%

Digital transactions

Q1 FY27· Page 7

Liability partnerships

Fintech partnership for NTB deposit accounts; in-house digital deposits; digital personal loans; secured credit line on UPI

Non-branch distribution

Q1 FY27· Page 32

AI / digital transformation

Zeni AI framework; RAG; enterprise GenAI assistant; AI cheque verification; voice bot; digital self-service

Production AI capabilities

Q1 FY27· Page 22

NRI digital service

NRI mobile-number switching in SIB Mirror+

NRI convenience / self-service

Live Mar-26· Page 30

Digital initiatives

• Digital liabilities

  In-house digital deposits, digital personal loans and secured credit line on UPI

  Pure-play in-house solutions

• AI

  Zeni framework with RAG, GenAI assistant, AI cheque verification, voice bots and compliance chatbot

  AI capabilities in production

• Digital Banking

  Focus on digital channel to drive operating efficiency

• Customer Experience & Technology

  Built new customer facing systems and processes, and significant improvement in processes and systems overall

• Operational Efficiency / Digitalization

  Streamline the CLOS process through simplified data capture, API-led integrations, and enhanced automation to significantly reduce login-to-disbursement turnaround time.

• Digital Banking

  Re-engineered the SIB Mirror+ app into a versatile digital gateway, specifically optimized to cater New to Bank segments and Fintech ecosystem integrations.

• Digitalization

  End-to end digitization of locker agreement documentation & agreement execution with stronger controls, faster turnaround time and superior customer experience.

• Digital Banking / New Products

  SIB FINX a completely Digital Savings Bank product with seamless customer onboarding.

• Digital Integration

  SIBerNet now supports direct integration with various treasuries and govt entities such as EPFO, ESIC, Karnataka treasury etc.

• Digitalization

  Digitized stock statement submission through banks website with an end-to-end digital process to improve TAT, enhance customer convenience and drive operational efficiency.

• Digital Products / Services

  SIB RED portal – An all-in-one digital portal for Products and Services.

• Digital Lending

  Strengthened digital lending capabilities through in-house developed LOS, enabling faster processing, improved control and enhanced operational efficiency.

• Digitalization / Trade Finance

  Trade Finance Module – The SIBerNet Corporate platform, handles the full spectrum of outward & inward remittance flows.

• Digital Collections

  Enhanced loan collection efficiency through the rollout of new loan collection platform, empowering field staff with digital tools to improve recovery effectiveness and operational productivity.

• Digital Lending / Product Origination

  Personal Loan origination through a secure digital application portal with OTP based authentication, seamless LOS integration, delivering faster approvals, enhanced customer onboarding experience and enabling rapid loan application processing.

• AI & Productivity

  Enterprise Generative AI Assistant: Bank-wide GenAI productivity layer.

• AI & Customer Experience

  Retrieval-Augmented Generation (RAG): Indexed knowledge base for instant search across internal documents and policies.

• AI & Customer Support

  Agentic Customer Support: Autonomous document-retrieval agents augmenting service teams.

• AI & Engineering

  AI-Assisted Engineering: Coding agents accelerating greenfield application development.

• AI & IT Governance

  IT Change Governance: Agentic compliance review for IT change-management workflows.

• AI & Operations

  Automated Day-Book Audit: AI-driven audit of branch day books and daily activity records.

• AI & Operations

  Signature Verification: AI-assisted signature authentication accelerating internal operations.

• AI & Compliance

  Regulatory Compliance Chatbot: Conversational interface for compliance teams to query and retrieve regulatory circulars and directives.

• AI & Customer Experience

  Review & Complaint Intelligence: AI-powered review analysis and complaint intelligence for customer experience.

• Digital Banking / Process Automation

  Implementing 'GST Power', an STP Model managing the process from login to disbursement for MSME Overdraft proposals up to ₹500 lakh.

• Digital Banking / Process Automation

  Developing 'LAP Power', an automated STP platform for Loan Against Property (LAP) proposals.

• Digital Banking / Process Automation

  Implementing 'Power Drive', an in-house developed STP process flow for Vehicle Loan proposals.

• Digital Banking / Process Automation

  Developing 'Power CONSOL', an STP to handle proposals intended to consolidate and realign credit exposure of approaching customers.

• Digital Banking / Process Automation

  Implementing 'Aawas Power', an STP-based LOS for Affordable housing loan proposals.

• Digital Banking / Process Automation

  Implementing 'Composite Power', an STP enabled process flow for retail MSME credit proposals with multiple facilities (incl. non funded).

• Digital Banking / Process Automation

  Implementing 'Micro Power', a unified STP flow, for handling MUDRA & SIB UDAY proposals up to 10 lakhs.

• Digital Banking / Process Automation

  Revamping processes for 'Edu Power' with attractive features and streamlined process for overseas education finance.

• Digital Banking / Product Innovation

  Introducing 'SIB Gold Xpress', a product aligned with RBI guidelines offering streamlined income assessment models.

• Digital Banking / Process Automation

  Developing 'Auto Renewal of KCC', an application module for renewal of KCC proposals up to 5 crores.

• Digital Banking / Process Automation

  Simplifying the renewal process for WC Limits with a simplified loan process flow for MSME renewals between 2-5 Crores.

• Digital Banking / Process Automation

  Implementing 'Captive Power', an STP model with integrated scorecard for handling Commercial Vehicle loan under Captive scheme.

• Digital Banking / Process Automation

  Digitalizing the Gold loan on-boarding process and documentation with an e-sign feature through 'Gold Loan Digitalization Process'.

• Digital Banking / AI & ML

  Utilizing 'AI ML based Document Generation' solution for AI-driven tech solutions for BFSI sector, leveraging AI, Machine Learning, and NLP for automated generation of credit-related documents.

• Digital Banking / Process Automation

  Implementing 'Transaction based Renewal', a process flow to route Working Capital renewal proposals up to 2 Crores.

• Digital Banking / Product Innovation

  Introducing 'ULI based KCC', a new KCC variant integrated with the ULI platform for seamless and digital onboarding.

• Partnerships / Digital Liabilities

  Partnering with Upswing (fintech) to allow New-To-Bank customers to open deposit accounts.

• Digital Banking / Product Innovation

  Developing in-house solutions for Digital deposits, Digital Personal loans, and Secured credit line on UPI.

• Digital Banking

  Setting up key systems like Business Process, management tools, CRM systems, Treasury & Risk Management, and leading payment channels such as UPI, IMPS, Bharat QR, Bhim Aadhaar.

• Digital Banking

  Transaction-based renewals were enabled through technology for hassle-free renewal of borrower accounts.

• Digital Banking

  UIDAI Face authentication in UPI for setting UPI PIN & Biometric authentication for transaction authentication.

• Digital Banking

  Soundbox in tie-up with Mswipe enabling instant credit to merchant accounts with real-time visibility, thereby delivering stronger merchant trust.

• Digital Banking

  SIB HER: Premium domestic, NRE and NRO savings account designed exclusively for women.

• Digital Banking

  Continuous enhancements to Mirror+ app - Financial Calendar, Updating customer signatures, Autopay for bill payments & instant payee activation - now available.

• Digital Banking

  Strengthened fraud risk management framework with advanced behavioral analytics and device intelligence, improving protection across digital banking platforms.

• Digital Banking

  Migrated from legacy system to a unified in-house CRM, centralizing lead management & optimizing complaint resolution.

• Digital Banking

  On-boarding of NRI customers through mobile based customer onboarding app SWIFTe, improving turnaround times and service scalability.

• Digital Banking

  New system for Continuous Clearing and On-Realization Settlement for CTS with same day return window to process inward cheques.

• Digital Banking

  New in-house Loan Origination System for commercial vehicles with integrated scorecard to streamline onboarding & improve portfolio quality.

• Digital Banking

  Implemented voucher reconciliation using AI-driven matching engine streamlining the validations of physical documents against CBS transaction.

• Digital Banking

  AI based loan document generation s/w ensuring uniformity in documentation & automated cross verification b/w draft & executed agreements.

• Digital Transformation

  GST Power: The STP Model now manages the entire process from login to disbursement for MSME Overdraft proposals upto ₹500 lakh.

• Digital Transformation

  LAP Power: Automated STP platform for Loan Against Property (LAP) proposals.

• Digital Transformation

  Power Drive: In-house developed STP process flow for Vehicle Loan proposals.

• Digital Transformation

  Power CONSOL: STP to handle proposals intended to consolidate and realign credit exposure of approaching customers.

• Digital Transformation

  Aawas Power: STP-based LOS for Affordable housing loan proposals.

• Digital Transformation

  Composite Power: STP enabled process flow for retail MSME credit proposals with multiple facilities (incl. non funded).

• Digital Transformation

  Micro Power: Unified STP flow, for handling MUDRA & SIB UDAY proposals up to 10 lakhs.

• Digital Transformation

  Edu Power: Revamped with attractive features and streamlined process, for overseas education finance.

• Digital Transformation

  SIB Gold Xpress: A product introduced in alignment with revised RBI guidelines, offering streamlined income assessment models.

• Digital Transformation

  Auto Renewal of KCC: Application module for renewal of KCC proposals upto 5 crores.

• Digital Transformation

  Simplified Renewal process for WC Limits: Simplified Loan process flow to handle MSME renewals for limits between 2-5 Crores.

• Digital Transformation

  Captive Power: STP model with integrated scorecard for handling Commercial Vehicle loan under Captive scheme.

• Digital Transformation

  Gold Loan Digitalization Process: Digitalization of Gold loan on-boarding process and documentation with e-sign feature.

• Digital Transformation

  AI ML based Document Generation: An AI-driven tech solution for BFSI sector, leveraging AI, Machine Learning, and NLP for automated generation of credit related documents.

• Digital Transformation

  Transaction based Renewal: Transaction based Renewal process flow to route Working Capital renewal proposals up to 2 Crores.

• Digital Transformation

  ULI based KCC: A new KCC variant integrated with the ULI platform, enabling seamless and digital onboarding by leveraging land record and crop details.

• Digital Banking (In-house products)

  Developing in-house solutions for Digital deposits, Digital Personal loans, and Secured credit line on UPI (Credit Line On UPI, SIB QUICK FD, SIB QUICKPL).

• Operating Efficiency / Retail & MSME Growth

  Focusing on significant momentum in Retail and MSME Segment, with Gold, Home, Auto, MSME, CV/CE showing good traction.

• Digital & Technology Capabilities

  The bank demonstrates a consistent commitment to next-gen banking, reflected by being a back-to-back Winner of the Tech Talent Award and leading with the highest number of awards in the segment.

  BEST TECH TALENT & ORGANISATION- WINNER, BEST DIGITAL SALES & ENGAGEMENT- RUNNER UP, BEST TECHNOLOGY BANK OF THE YEAR- RUNNER UP, BEST AI & ML ADOPTION- RUNNER UP, BEST IT RISK MANAGEMENT- SPECIAL MENTION, BEST FINTECH & DIGITAL PAYMENT INDEX ADOPTION- SPECIAL MENTION, Leads with highest number of awards in the segment

• Digital Banking

  South Indian Bank has demonstrated standout performance in banking technology, earning multiple accolades at the IBA Banking Technology Awards 2024-25, including Best Tech Talent & Organisation (Winner), Best Digital Sales & Engagement (Runner Up), Best Technology Bank of the Year (Runner Up), Best AI & ML Adoption (Runner Up), Best IT Risk Management (Special Mention), and Best Fintech & Digital Payment Index Adoption (Special Mention).

  Consistent Winner across the years highlighting the Bank's commitment to next-gen banking, Leads with highest number of awards in the segment, Back-to-back Winner of the Tech Talent Award, reflecting sustained excellence in nurturing digital & technology capabilities

• Employee Training

  A structured skill-building initiative for MSME teams has been implemented, focusing on portfolio quality and superior customer experiences.

• Digital Banking

  Transaction-based renewals were enabled through technology for hassle-free renewal of borrower accounts.

• Digital Banking & Customer Experience

  Developed a Customer Satisfaction Survey platform to create, distribute & analyze online customer feedback for hyper-personalized services.

• Digital Banking & Customer Experience

  Enhanced the Trade Finance Portal with the introduction of a new module for efficient inward remittance (IR) processing.

• Digital Banking & Customer Experience

  Launched a new website with a revamped look and feel to give customers a top-notch experience.

• Digital Banking & Customer Experience

  Integrated UPI with the GST portal as an additional payment mode for faster, more convenient GST payments.

• Digital Banking & Customer Experience

  Implemented quick NRE/NRO account opening in a simplified onboarding journey through the mobile-based customer onboarding app SWIFTe to enhance the NRI customer base.

• Digital Lending & STP Implementation

  Launched 'Gold Xpress', a new gold loan product with a comprehensive credit assessment model primarily aimed at financing income generating activities.

• Digital Lending & STP Implementation

  Empowering the Loan Origination System to extend SIB Ashirvad Housing Loan to NRI customers.

• Digital Lending & STP Implementation

  Implemented 'GST Power', an STP Model to manage the entire process for MSME OD from ₹10 lakh to ₹200 lakhs.

• Digital Lending & STP Implementation

  Implemented 'Gold Loan Digitalization Process' for digitalization of Gold loan onboarding and documentation with e-sign feature.

• Digital Lending & STP Implementation

  Implemented 'Micro Power', a unified STP flow for handling MUDRA & SIB UDAY proposals up to ₹10 lakhs.

• Digital Lending & STP Implementation

  Implemented 'LAP Power', an automated STP platform for Loan Against Property (LAP) proposals.

• Digital Lending & STP Implementation

  Implemented 'Aawas power', an STP-based LOS for Affordable housing loan proposals.

• Digital Lending & STP Implementation

  Implemented a simplified renewal process for WC Limits, streamlining loan process flow to handle MSME renewals for limits between ₹2-5 Crores.

• Digital Lending & STP Implementation

  Implemented 'Power Drive', an in-house developed STP process flow for Vehicle Loan proposals.

• Digital Lending & STP Implementation

  Implemented 'Power CONSOL', an STP to handle proposals intended to consolidate and realign credit exposure of approaching customers.

• Digital Lending & STP Implementation

  Introduced 'SIB Gold Xpress', a product in alignment with revised RBI guidelines offering streamlined income assessment models.

• Digital Lending & STP Implementation

  Implemented 'Composite Power', an STP enabled process flow for retail MSME credit proposals with multiple facilities (incl. non funded).

• Digital Lending & STP Implementation

  Implemented 'Edu Power', revamped with attractive features and streamlined process, for overseas education finance.

• Digital Lending & STP Implementation

  Implemented 'Auto Renewal of AGRI', an application module for renewal of AGRI KCC proposals upto 50 lakhs.

• Digital Lending & STP Implementation

  Project aims for addition of income assessment methods like GST, ITR, BSA in addition to existing assessment methods based on imputed income and Personal Discussion in Gold Xpress.

• Digital Lending & STP Implementation

  The SME Power project aims to refine and simplify the new CLOS platform for handling Business Loan proposals, minimizing data entry, simplifying documents, and automating activities.

• Digital Lending & STP Implementation

  The Captive Power (CE/CV) project aims to amplify the CE/CV Retail loan book by refining existing process flow and revamping the product, with a semi STP LOS model.

• Digital Lending & STP Implementation

  Phase II of the Composite Power project will automate the Post Sanction process flow till disbursement, assisting faster disposal.

• Digital Lending & STP Implementation

  Project aims for Pre-approved Housing loan top up through webpage (FACE).

• Retail Lending

  Significant momentum in Retail Segment, with Home, Auto, Gold, CV/CE showing good traction.

• Digital Sourcing

  Digital sourcing of current accounts through referral programs with India Filings.

• Digital Banking

  In-house solutions for Digital deposits, Digital Personal loans, and Secured credit line on UPI.

• Retail and MSME Growth

  Significant momentum in Retail and MSME Segment, with Home, Auto, Gold, MSME, CV/CE showing good traction.

• Digital Banking

  Leverage digital channels to enhance operating efficiency.

• Employee Training

  Implement a structured skill-building initiative for MSME teams to improve portfolio quality and customer experiences.

• Digital Lending

  Enable transaction-based renewals through technology for hassle-free renewal of borrower accounts.

• Digital Banking

  Digital auto loan financing through integration with Maruti Suzuki MSSF platform.

• Digital Banking

  New feature in Mirror+ enabling customers to access their CIBIL credit score, fostering greater financial awareness & credit growth opportunities for the Bank.

• Digital Banking

  Customer inheritance of existing Amazon-Axio checkout finance customers to SIB in a co-lending mode.

• Digital Banking

  UPI linked credit line enabling seamless P2M payments, expanding the credit base by tapping into everyday consumer transactions & diverse customer categories.

• Digital Banking

  Mobile Number update through registered Email ID for NRI customers.

• Digital Banking

  Authenticated Customer Engagement module in SIBerNet to secure remote customer authentication for branch-initiated requests.

• Digital Banking

  Money Mule Identification during CASA account opening.

• Digital Banking

  STP Model to manage the entire process for MSME OD from ₹10 lakh to ₹200 lakhs (GST Power).

• Digital Banking

  Digitalization of Gold loan on-boarding process and documentation with e-sign feature (Gold Loan Digitalization Process).

• Digital Banking

  Unified STP flow, for handling MUDRA & SIB UDAY proposals up to 10 lakhs (Micro Power).

• Digital Banking

  Automated STP platform for Loan Against Property (LAP) proposals (LAP Power).

• Digital Banking

  STP-based LOS for Affordable housing loan proposals (Aawas power).

• Digital Banking

  Simplified Loan process flow to handle MSME renewals for limits between 2-5 Crores (Simplified Renewal process for WC Limits).

• Digital Banking

  In-house developed STP process flow for Vehicle Loan proposals (Power Drive).

• Digital Banking

  STP to handle proposals intended to consolidate and realign credit exposure of approaching customers (Power CONSOL).

• Digital Banking

  Phase III of (TBR) process flow to route Working Capital renewal proposals up to 2 Crores (Transaction Based Renewal).

• Digital Banking

  STP enabled process flow for retail MSME credit proposals with multiple facilities (incl. non funded) (Composite Power).

• Digital Banking

  Revamped with attractive features and streamlined process, for overseas education finance (Edu Power).

• Digital Banking

  Application module for renewal of AGRI KCC proposals upto 50 lakhs (Auto Renewal of AGRI).

• Digital Banking

  In-house solutions for Digital deposits (SIB Quick FD) and Digital Personal loans (SIB Quick PL).