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Our Bureau

Mumbai , June 16

UTI Bank aims to increase its market share in retail financial services industry by providing banking convenience to customers and by offering differentiated products to meet the specific needs of disparate customer segments.

In its annual report of 2004-05, the bank said the key driver of retail business was increasing customer segmentation leading to customised product offerings. Due to this strategy, there was strong growth in business across various segments during 2004-05.

According to the report, there was 165 per cent growth in high net worth customer segment, due to the `Priority Banking', a savings bank product.

The number of customer accounts of salary earning employees segment saw an increase of 70 per cent due, to the product `Salary Power'.

The bank keeps track of customer satisfaction levels through periodic `Mystery Shopper' surveys and `Customer Service Audits'.

For its customers travelling abroad, UTI Bank plans to introduce the travel currency, a foreign denominated pre-paid card, in Australian dollar and Canadian dollar.

Currently, the bank offers the card in three currencies, dollar, pound sterling and euro, on the Visa platform.

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