Axis Bank witnesses strong shift towards digital banking

Guwahati, December 4: Axis Bank on Friday said that its 16 million strong retail customer base has conducted Rs 22,000 crore worth of transactions in the first 6 months of FY16 through its mobile platform, as compared to Rs 4,200 crore during the corresponding period last fiscal, thereby reflecting a strong preference shift towards digital banking. 47% of fincial transactions by individual customers during the first six months of the fincial year have been through digital channels, as compared to 41% during the corresponding period last year.

The bank further expects more than 20% rise in the transactions through the digital banking platform during FY16.

Rajiv And, Group Executive & Head- Retail Banking, Axis Bank said, “Axis Bank is a pioneer in introducing customer friendly technology initiatives in the banking space. With the increasing number of customers preferring mobile banking,   we   see   this   digital   solution   gaining   momentum   as   it brings   additiol convenience to an already superior customer experience.”

Axis Bank offers a complete suite of retail products in the North eastern states. The Bank set up its first branch in the northeast at Guwahati in 2002 and since then has witnessed significant scale of business across products. The bank has a strong presence in the state, with a network of 70 branches across 46 districts, 2 Asset Service Centers, 199 ATMs and 19 Cash Deposit Machines spread across the seven states. The bank has seen a significant rise in business across products in the state.

The Bank also recently launched LIME, India’s first Mobile App integrating Wallet, Shopping, Payments and Banking, ebling any individual to transact and mage money through a single mobile app. This was stated in a press release.