Enhanced Access & Service Excellence (EASE) was conceptualized to improve Risk assessment, NPA management, deepening financial inclusion, enhancing Customer service, initiating Digital transformation, Retail and MSME Credit off-take, developing Analytical capabilities, HR transformation and Governance, etc.
The Government of India and Public Sector Banks (PSBs) jointly committed to and launched a common PSB Reforms Agenda for Enhanced Access & Service Excellence (EASE) In January 2018. The reform agenda comprises 30 Action Points across six reform themes.
The EASE agenda was jointly prepared by the Indian Bankers Association (IBA) and Boston Consulting Group (BCG) based on points emerging from brainstorming by the Finance Ministry, PSB Chiefs, Executive Directors, IBA, and other stakeholders. The first round (EASE 1.0) was launched in January 2018. EASE 1.0 was the foundation and the EASE 2.0 banking reforms index was based on the foundation put in place by EASE 1.0., the focus of the reforms was to ensure that PSBs set up all the internal processes and systems that would aid them in achieving higher standards in terms of CLEAN (clean credit, leveraging data, ensuring accountability, action against defaulters and NPA recovery) and SMART (Speedy, Multichannel reach accessible & affordable, responsive and technologically enhanced) banking. The progress of the banks on each of the themes was rigorously monitored through an objective EASE Reforms Index, comprising 140 metrics. The next version was launched as EASE 2.0 which had fewer parameters (107 metrics) The Ease 2.0 Banking Reforms index gauges the performance of each public sector bank based on 120 plus key objectives and metrics, generated to promote healthy competition among the public sector banks. EASE 3.0 was a continuation of earlier versions with a focus on strengthening systems and processes, particularly digital enablement.
With changes in the banking landscape owing to amalgamation and the prevailing pandemic caused by COVID-19 during the Financial Year (FY) 2020- 21 and 2021-22, the reform agenda shifted gears with the launch of EASE 4.0 and 5.0.
EASE 4.0 (FY 2022) focuses on tech-enabled, simplified, and collaborative banking to further the agenda of customer-centric digital transformation. The following major themes were proposed under this;
(i)24×7 Banking, (ii) Focus on North-East, (iii) Bad Bank, and (iv) Raising Funds Outside the Banking Sector.
What is EASE-Next?
After 4-years of successful EASE journey and with all 12 PSBs turning profitable, another brainstorming event, PSB Manthan 2.0, was held in April 2022 with the entire leadership of PSBs under the guidance of the Department of Financial Services to take EASE to the next level. EASENext program was born as its outcome with a significantly bigger, bolder, and broader scope having two Pillars:
Pillar 1- EASE Common Reform Agenda- continues to drive EASE reform initiatives in the same format.
Pillar 2- 3-Year Bank-Specific Strategic Roadmap- Banks set up their own Bank specific 3-year strategic roadmap to focus on transformation reforms beyond the common EASE reform agenda.
Under pillar 1, Ease5.0 (FY 2023) focuses on Digital customer experience, and integrated and inclusive banking, with emphasis on supporting small businesses and agriculture.
The initiatives will be across diverse themes: business growth, profitability, risk, customer service, operations, and capability building.
Present reform, EASE 6.0 (FY24) is conceptualized with 22 Action points under 4 Themes focused on (i) Delivering excellence in customer service with digital enablement; (ii) Hassle-free branch banking experience, (iii) Seamless call-center experience, intuitive mobile/internet banking, (iv)complaint redressal, (v)customer acquisition, retention and relationship deepening and Inclusive near-home service delivery; (vi)Digital and analytics-driven business improvement; (vii) Comprehensive digital banking for MSMEs, (viii) Banking solutions for Agri value chain, (ix) Digital marketing for enhanced customer engagement, (x) Digitally-enabled sourcing and servicing of CASA deposit base and (xi) Partnership banking.
Tech and data-enabled capability building: Strengthening specialized analytics function, Increased adoption of cloud technologies, Digital and analytics-driven risk management, collections and recovery, strengthening cybersecurity, and preventing cyber frauds.
Developing people and enhancing HR operations: Analyze drivers for employee Productivity, promote gender diversity, Strengthen specialization, succession planning, and leadership development, Data-driven manpower planning, role clarity, and target setting.
EASE Reforms are governed by the EASE Steering Committee of the Indian Bank`s Association. It aims to bring an exhaustive and all-inclusive revamping and enhancing the capabilities of PSBs to meet the changing demands of the banking landscape.
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