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
هذه القصة مأخوذة من طبعة February 2022 من Banking Frontiers.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة February 2022 من Banking Frontiers.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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:
A model for cloud adoption - Zurich Cantonal Bank
The bank is had opted for cloud to offer better service to its customers:
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.
Automated, Adaptive, Al-enabled Architecture is a must
Security heads from 2 BFSI companies reveal the key cyberfrauds and strategies to combat them:
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:
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.
Bangladesh Finance: 25% faster customer service; 15% higher customer retention
Bangladesh Finance, established in 1999, is a leading financial institution in Bangladesh.
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.
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.
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.
