Context:
Bank of Baroda (BoB) has launched the mDigiNext mobile app to meet the cash management needs of its corporate customers. The app is designed to enhance working capital management, cash flow efficiencies, and ensure faster execution of corporate financial operations.
Key Features of the mDigiNext App
- 24×7 access to cash management tools for corporates.
- Transaction capabilities:
- Creation and authorization of one-to-one transactions.
- Authorization and rejection of bulk uploads.
- End-to-end tracking of transactions and workflows.
- Real-time transaction inquiries.
- Account management:
- View account summaries and mini-statements.
- Access a consolidated dashboard of all group entities.
- Enhanced security:
- OTP verification.
- Three-factor authentication (3FA) for secure operations.
Platform Availability
- Currently launched on Android; iOS version to follow soon.
Strategic Benefits for Corporates
- Facilitates informed financial decisions on the go.
- Streamlines corporate workflows and improves cash management efficiency.
- Positions Bank of Baroda as a tech-savvy partner for business banking solutions.
Source: Business Line
