Canara Bank head office in Bengaluru.
Bengaluru: In a move to enhance efficiency and eliminate manual processes, Canara Bank has become the first bank to offer an online Digital Balance Confirmation Certificate through the PSB Alliance Pvt. Ltd portal.
This initiative significantly reduces the time required for auditors to complete the auditing process by replacing the traditional manual approach with a seamless digital solution.
Previously, auditors had to approach banks individually with authority letters to obtain Balance Confirmation Certificates, a time-consuming process.
Now, with Canara Bank’s innovative digital service, balance confirmation will flow directly to auditors through the online portal after obtaining online consent from the customer, eliminating the need for manual intervention.
The common portal, https://digitalbalanceconfirmation.com, and maintained by M/s. PSB Alliance Pvt. Ltd. ensures a secure and efficient process for generating Digital Balance Certificates for customers, a release from the bank said.
This digital transformation underscores the bank’s commitment to leveraging technology for improved service delivery and operational efficiency, thereby continuing to lead in digital banking solutions, the release added.
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