AU0101 App grows 90% to 1.9 mn customers

AU SFB launched several initiatives to strengthen its digital proposition, which is scaling well

AU Small Finance Bank has recently completed 6 year as a small finance bank and 28 years as an institution. Sanjay Agarwal, MD & CEO, and Uttam Tibrewal, Executive Director, AU Small Finance Bank, throw light on the bank's digital journey so far and the path ahead at the recent earnings call conference and investor presentation.

A INNOVATIVE DIGITAL PRODUCTS

In wheels business AU Bank is implementing Salesforce's LOS along with underwriting tool by FICO to enable straight through processing of vehicle loans. When the bank started this journey from its oldest business, it envisaged implementing similar processes for all the loans in the bank.

Key IT highlights of the bank include upgrade of its core banking system, enhancing data centre capacity and scaling its digital propositions further. The bank has been working across all aspects of technology, be it core technology stack digitization, automation, data analytics and digital customer facing propositions. Agarwal informs: "On the digital front, we continue to deliver innovative products and upgrade existing offerings. We have recently launched a Digital Current Account, Swipe Up Card, Credit Card Upgrade Program and industry-first offering around bill payments over video banking. Our digital insurance and wealth proposition have also started gaining traction and this year we would further enhance and scale this. We will also be soon launching a merchant app. Our tech outlook remains very strong."