GROWING OUR DIGITAL FOOTPRINT

• We acquired the payments fintech company FreeCharge (first such acquisition of a digital payments company by a bank in India) to strengthen our digital offerings. FreeCharge is a leading pan-India digital payments company with over five crores registered customers and 200,000+ merchants.
• We launched Axis ASAP – a savings account that can be instantly opened online with just PAN and Aadhaar details – it has industry-first feature where savings balances over `10,000 are automatically treated as fixed deposits and customers earn an interest of 6.75%.
• We launched ASAP loans to address finance needs of small businesses faster, through small ticket pre-approved e-loans for pre-qualified customers. ASAP loans eliminate the hassles of documentation, physical visits and negotiations and complete the disbursement process in less than 10 minutes. In its first year of launch, we disbursed more than `20 crores through this platform and going forward, expect to scale it.
• We launched India’s first open-loop smart card, in association with the city transportation body, enabling commuters in Bengaluru and Kochi to travel cashless and hassle-free in public transport.
• We introduced Axis OK, an app that empowers feature phone users to avail basic banking facilities digitally without internet
• We launched instant international payment services using Ripple’s enterprise blockchain technology solution. Ripple connects banks, payment providers, digital asset exchanges and corporates to provide frictionless experience to send money globally. The transactions reach their destination account in minutes, with certainty of settlement, and provide complete transparency.
• We introduced AI in chatbots for interactive interface mutual funds transactions and use of blockchain for remittances.
• We enable our customers to make informed decisions on mutual fund schemes with Mutual Funds Screener on the Axis Bank website. The platform provides fund comparisons and details such as risk category, fund performance, peer comparison, asset allocation and portfolio details, among others.

DELIGHTING CORPORATE CUSTOMERS

• We enriched our Corporate Internet Banking (CIB) experience by migrating customers to a single portal for all corporate digital offerings, along with a one-view dashboard for all corporate relationships. This allows corporate borrowers to submit various documents/declarations online. The Trade Connect platform is also integrated with CIB for trade transactions by corporate customers
• We launched a bulk bill payment solution for corporates that helps settle various bills such as utility and telecom, among others. Corporates have access to various payment options using this platform.
• We are engaging with e-commerce companies, fintech companies and start-ups for our investment banking solutions and banking products.

SIMPLIFYING OVERSEAS TRANSACTIONS

• We partnered with Earthport to provide a unique remittance solution with guaranteed turnaround time and fixed charges for remittances to 60+ countries.
• We developed an online platform for remitting funds overseas to cater to customers who do not maintain accounts with Axis Bank. The platform allows online transactions after completing a one-time KYC.
• We launched Remit Money with customer-centric features such as instant/near-instant money transfer and integration with payment gateways. The portal provides instant account verification in USA, real-time chat facilities and 24x7 customer service for convenient cross-border fund transfers
• We introduced ‘E-softex’, a software that provides data pertaining to Softex forms, invoices and remittances to software companies through an online portal. The Softex forms are matched with remittances and export data processing and the monitoring system is updated automatically.

ENHANCING OUR CUSTOMER VALUE PROPOSITION

• We partnered with leading health and medical services providers (Apollo and Max Healthcare) to provide our customers with exclusive health and wellness services at discounted prices.
• We implemented Straight Through Processing (STP) in areas of loans, general insurance, health insurance and credit card space, reducing turnaround time.

HASSLE-FREE PROPOSITION WE INTRODUCED AN INDUSTRY-FIRST SCHEME, WHICH OFFERS ABSOLUTE LIQUIDITY WITH OUR TERM DEPOSIT PLANS. OUR CUSTOMERS NEED NOT WORRY ABOUT PREMATURE CLOSURE PENALTY FOR THE FIRST PARTIAL WITHDRAWAL OF UP TO 25% FOR THE TERM DEPOSITS’ PRINCIPAL VALUE.