Canara Bank Experiences Growth Surge Following Technology Adoption
In a significant development, Canara Bank is currently witnessing a substantial increase in its growth, attributed to the strategic adoption of data analytics and artificial intelligence/machine learning (AI/ML) technologies, as revealed by the bank’s Managing Director and CEO, K Satyanarayana Raju. The technology-driven transformation has resulted in an 8-11% incremental growth in key areas such as the bank’s current and savings accounts, housing, and vehicle loans, with a potential to escalate to 20-25%.
Technologies Enhancing Efficiency
The bank’s embrace of data analytics and AI/ML has remarkably altered the…
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