Digital banking units fail to touch a chord with customers

The digital banking unit (DBU) initiative — banks’ attempt to connect with the unbanked and the underbanked population using their digital prowess — largely remains on paper three years since its launch, with banks adding just 25 units to the initial 75.

Several bank officials FE spoke to remained sceptical about the future of the initiative, and one of them summed up the situation well: “It’s just a box-ticking exercise.”