Axis Bank sees high potential in digital banking services

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  • Growth in ownership of mobile and other electronic devices, driving digital banking; over 80% of the transactions to happen through digital channels in FY15
  • Axis Bank’s  overall market share in mobile transactions stands at 13%, as on Jun’14
  • Strong network presence in Punjab with 506 ATMs and 275 branches; 2nd largest ATM network with 13,170 terminals across the country, as on Oct’14
  • Deployment of 32 Cash Deposit Machines (CDM) in Punjab, 2nd largest CDM network with 659 terminals across country, as on Oct’14

NewZNew (Chandigarh) : Axis Bank, India’s third largest private sector bank, sees a strong growth in digital channels, expecting over 80% of its country wide transactions to get executed through the digital channel including ATMs in FY15. Currently, 35% of the Bank’s customers are using various digital channels for their Banking needs and financial transactions.

Axis Bank offers a complete suite of retail products, both liabilities and retail assets in Punjab. The bank has a strong presence in Punjab with network of 275 branches, 5 Asset Service Centers, 506 ATMs and 32 Cash Deposit Machines spread across 22 districts. Over 66% of the branches are located in rural centers, of which 86% had been opened in unbanked locations. The bank has seen a significant rise in business across suite of products in the state.

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[blockquote author=”Mr. Rajiv Anand, Group Executive & Head- Retail Banking, Axis Bank said, ” pull=”pullright”]“Axis Bank has been a pioneer in launching customer friendly technology initiatives in the banking space. The innovative, personalized multi-channel banking experience like Self Service ATMs, Internet banking, Mobile app and social media interface would be the driving force in our Bank’s Digital strategy. With the growth in Internet penetration and the convenience that the online Banking channels offer, we are seeing increasing adoption of digital channels by customers”[/blockquote]

Axis Bank is the first Indian bank to offer ‘Aadhaar based eKYC’ mode of account opening service for its customers by offering paperless account opening services through MicroATMs. The bank has conducted close to 3 million Aadhar Enabled Payment System (AEPS) transaction through Micro-ATM. The bank was the first Indian Bank to introduce innovative services like ‘Swipeon’ – a mobile phone based card acceptance service that convert any mobile phone into a card acceptance device by simply attaching the Mswipe card reader to the phone, ‘Instant Money Transfer (IMT)’, a new and innovative remittance service that enables customers of Axis Bank to make instant payments to a receiver anywhere in India through mobile phones and withdraw the amount at any Axis Bank ATM without a card, and a first of its kind mobile app ‘Axis Mobile 2.0’ which offers a high level of personalization, allowing users to customize their mobile banking experience, depending on the user segment (Youth, Premium& Prime segments).

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To increase customer security, the bank has recently introduced ‘e-surveillance’ facility, a service that allows a 24×7, 365 days Centrally Monitored Automated Security of ATMs. This initiative underscores the bank’s objective of providing advanced security and simplified service to its customers.

About Axis Bank

Axis Bank is the third largest private sector bank in India. Axis Bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.

With its 2,505 domestic branches (including extension counters) and 13,146 ATMs across the country, as on 30th September 2014, the network of Axis Bank spreads across 1,686 cities and towns, enabling the Bank to reach out to a large cross-section of customers with an array of products and services. The Bank also has overseas offices in UK, Singapore, Hong Kong, Shanghai, Colombo, Dubai and Abu Dhabi.

The Bank’s website www.axisbank.com offers comprehensive details about its products and services.

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