Evolution of the EASE Program
The EASE Reforms Agenda was launched in 2018 by the government and PSBs with the help of the Boston Consulting Group. EASE 1.0 resulted in significant improvements in resolving NPAs transparently. EASE 2.0 introduced new reform Action Points across six themes to promote responsible banking, customer responsiveness, credit off-take, financial inclusion and digitalization, governance, and HR. EASE 3.0 aimed to enhance banking experiences for customers by leveraging technology, with initiatives such as Dial-a-loan and PSBloansin59 minutes.com, partnerships with FinTechs and E-commerce companies, and tech-enabled agriculture lending. EASE 4.0 committed PSBs to customer-centric digital transformation through tech-enabled, simplified, and collaborative banking. EASE 5.0 will maintain its emphasis on improving digital customer experience and promoting integrated and inclusive banking using data-driven approaches in all areas.
Enhanced Access and Service Excellence (EASE) Program
The full form of the EASE Program is Enhanced Access and Service Excellence (EASE) Program. In January 2018, the Indian government and Public Sector Banks (PSBs) launched the EASE Reforms Agenda, which was commissioned by the Indian Banks’ Association and authored by the Boston Consulting Group. The Indian Banks’ Organisation, established in 1946, represents Indian banks and financial institutions in Mumbai. The EASE Agenda’s goal is to achieve CLEAN and SMART banking. The EASE Reforms Index evaluates each PSB’s performance using more than 120 objective indicators and provides a transparent grading approach that enables banks to identify their strengths and areas for improvement. The objective is to foster healthy competition among PSBs and drive modernization efforts by emphasizing data analytics, automation, and digitization. The EASE program has been providing a common set of reform objectives for PSBs since its inception, with the aim of enhancing profitability, asset quality, customer service, and digital capabilities through new-age reforms.
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