The City Union Bank (CUB) is likely to appoint Boston Consulting Group (BCG) to help the bank upgrade its digital lending processes, said MD & CEO N. Kamakodi.
The move assumes significance as most of CUB’s peers had grown 14%-16% in the digital lending space over the last 3-4 years, Mr. Kamakodi said on an earnings call.
“Historically, we did not concentrate much on segments such as housing loans, credit cards, vehicle loans, personal loans, LAP as well as co-lending model,” he disclosed.
“Now, we could see that our peers are growing in these segments. Based on our learnings in the last 3-4 years, we are on the verge of finalising BCG as our consultant to upgrade our existing digital lending processes,” he added.
Accordingly, CUB has shifted attention to retail products such as housing, vehicle, personal loans and loan against properties as well as co-lending.