Triple Axis of Success: Reimagining, Transforming & Partnering
Banking Frontiers|February 2022
The private sector bank now goes live with 25+ new tech or digital capabilities every quarter:
Triple Axis of Success: Reimagining, Transforming & Partnering

Amitabh Chaudhry explains that a significant portion of the growth is driven by the advanced rule engines, built by the analytic team

A xis Bank continues to remain among the top players in the retail digital banking space. Here are some figures that highlight its progress. The bank’s y/y growth in total UPI transaction value in Q3FY22 is 133%. Its market share in UPI transactions is at 15%. Share of digital transactions in the bank’s total financial transactions by individual customers is 92%in Q3FY22. Y/y growth in mobile banking transaction volumes is 75%in Q3FY22, with market share of 15%. Saving accounts opened through tab banking stands at 71%. Retail term deposits (by volume) opened digitally in 9MFY22 stand at 68%. New mutual fund SIPs sourced through digital channels is 46%in 9MFY22.

On business parameters, Axis Bank’s advances grew by 17% y/yand 7% q/q. The growth was strong across all 3 segments of retail, corporate and commercial bank. Amitabh Chaudhry, MD & CEO, expands: “In consumer loans, digital lending grew 33% q/q. It contributes upwards of 52% to key product lines such as Personal loans.”

Axis was among the first banks to go live on the account aggregator framework. The first products to go live are auto loans and personal loans. Amitabh shares: “The impact of digitization and streamlined customer journeys is bearing results and we find greater customer engagement and conversion.”

SAVINGS ACCOUNTS

この記事は Banking Frontiers の February 2022 版に掲載されています。

7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。

この記事は Banking Frontiers の February 2022 版に掲載されています。

7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。

BANKING FRONTIERSのその他の記事すべて表示
It's a bank and a brokerage - FinecoBank
Banking Frontiers

It's a bank and a brokerage - FinecoBank

FinecoBank of Italy is a highly tech-enabled bank that is a combination of a bank and a brokerage:

time-read
3 分  |
November 2024
A model for cloud adoption - Zurich Cantonal Bank
Banking Frontiers

A model for cloud adoption - Zurich Cantonal Bank

The bank is had opted for cloud to offer better service to its customers:

time-read
3 分  |
November 2024
RBI Governor urges NBFCs to adhere to fair practices code
Banking Frontiers

RBI Governor urges NBFCs to adhere to fair practices code

The Reserve Bank of India (RBI) Governor has urged Non-Banking Financial Companies (NBFCs) to strictly adhere to the Fair Practices Code, emphasizing sustainable growth and robust risk management in the sector.

time-read
1 min  |
November 2024
Automated, Adaptive, Al-enabled Architecture is a must
Banking Frontiers

Automated, Adaptive, Al-enabled Architecture is a must

Security heads from 2 BFSI companies reveal the key cyberfrauds and strategies to combat them:

time-read
4 分  |
November 2024
Fraudsters too gain ground as real-time payment systems grow
Banking Frontiers

Fraudsters too gain ground as real-time payment systems grow

There is a need for the technologies behind the real-time payment systems to gain a march over the methods of fraudsters:

time-read
5 分  |
November 2024
Ethics & Challenges of AI in Cyber security: Navigating the Moral Maze
Banking Frontiers

Ethics & Challenges of AI in Cyber security: Navigating the Moral Maze

Even as AI is finding its place in the cyber security domain, an entirely new frontier of ethical challenges awaits.

time-read
3 分  |
November 2024
Bangladesh Finance: 25% faster customer service; 15% higher customer retention
Banking Frontiers

Bangladesh Finance: 25% faster customer service; 15% higher customer retention

Bangladesh Finance, established in 1999, is a leading financial institution in Bangladesh.

time-read
5 分  |
November 2024
Fino sparkles with technology & brand upshift
Banking Frontiers

Fino sparkles with technology & brand upshift

Fino Payments Bank started operations in June 2017, providing banking services to mass market customers, who are largely rural-based.

time-read
4 分  |
November 2024
Savington Upshifts: 48% Faster, Churn down 31%
Banking Frontiers

Savington Upshifts: 48% Faster, Churn down 31%

Savington International Insurance Brokers LLC, founded in 2006 by Dev Maitra, is a prominent insurance provider in the UAE.

time-read
4 分  |
November 2024
Zoroastrian Bank: Multiple awards for being the Best
Banking Frontiers

Zoroastrian Bank: Multiple awards for being the Best

Established in 1927 by Sir Hormusjee Cowasjee Dinshaw Adenwalla, Zoroastrian Bank is a prominent urban cooperative bank headquartered in Mumbai, India.

time-read
7 分  |
November 2024