More Stories

Informist, Friday, Jan. 9, 2026

 

--Union Bank source: Onboarded Accenture Dec to help adopt generative AI 

--Union Bank source: Working on identifying use cases for generative AI 

 

MUMBAI – Union Bank of India has onboarded information technology services firm Accenture to assist with the adoption of generative artificial intelligence across its banking platform, a senior official of the bank overseeing the initiative told Informist on the sidelines of an event organised by the Indian Banks' Association on Friday.

 

"See, we have already onboarded a platform integrator, Accenture. We have onboarded Accenture, it's a work in progress. We have onboarded them last month, for generative AI adoption...Now, we have identified few use cases, we will start with that. That will take some time. Maybe six to seven months," the official said.

 

On the technology front, the bank's latest priority is adoption of generative AI and it is in the process of onboarding more vendors, such as Accenture, for the same, the official said. The bank had in 2023 collaborated with the technology firm to develop an enterprise data lake platform with advanced analytics and reporting capabilities. 

 

The bank has completed some proof of concepts for the adoption of generative AI, the official said. The use cases include front-line exchange, that is, customer interactions and human resource management, the official added. The bank is also in the adoption stage of the Central Bank Digital Currency and is currently placing greater focus on integrating generative AI across its platforms. 

 

As banks look to implement AI in their systems, a committee of the Reserve Bank of India has recommended formulating an AI policy to provide necessary regulatory guidance, as per the central bank's Financial Stability Report published last month.

 

For the quarter ended September, Union Bank of India's net profit fell nearly 10% on year to INR 42.49 billion. On Friday, shares of the bank ended 0.5% higher at INR 162.26 on the National Stock Exchange.  End

 

Reported by Cassandra Carvalho

Edited by Tanima Banerjee

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2026. All rights reserved.