Editorial & Advertiser Disclosure Global Banking And Finance Review is an independent publisher which offers News, information, Analysis, Opinion, Press Releases, Reviews, Research reports covering various economies, industries, products, services and companies. The content available on globalbankingandfinance.com is sourced by a mixture of different methods which is not limited to content produced and supplied by various staff writers, journalists, freelancers, individuals, organizations, companies, PR agencies Sponsored Posts etc. The information available on this website is purely for educational and informational purposes only. We cannot guarantee the accuracy or applicability of any of the information provided at globalbankingandfinance.com with respect to your individual or personal circumstances. Please seek professional advice from a qualified professional before making any financial decisions. Globalbankingandfinance.com also links to various third party websites and we cannot guarantee the accuracy or applicability of the information provided by third party websites. Links from various articles on our site to third party websites are a mixture of non-sponsored links and sponsored links. Only a very small fraction of the links which point to external websites are affiliate links. Some of the links which you may click on our website may link to various products and services from our partners who may compensate us if you buy a service or product or fill a form or install an app. This will not incur additional cost to you. A very few articles on our website are sponsored posts or paid advertorials. These are marked as sponsored posts at the bottom of each post. For avoidance of any doubts and to make it easier for you to differentiate sponsored or non-sponsored articles or links, you may consider all articles on our site or all links to external websites as sponsored . Please note that some of the services or products which we talk about carry a high level of risk and may not be suitable for everyone. These may be complex services or products and we request the readers to consider this purely from an educational standpoint. The information provided on this website is general in nature. Global Banking & Finance Review expressly disclaims any liability without any limitation which may arise directly or indirectly from the use of such information.

AXIS BANK PLANS MAJOR MOBILE BANKING PUSH, AIMS TO REACH OUT TO 1.5 MILLION CUSTOMERS THROUGH NEW DELIVERY CHANNELS

  • With Online services and sales growing rapidly, more than half of all transactions are expected to be through the Internet
  • Personalised Mobile Banking app to enable simple Banking services being made available on your handheld devices
  • The first of its kind in India, Axis Mobile 2.0 offers a high level of personalisation, allowing users to customise their mobile banking experience, depending on the user segment (Youth, Premium and Prime segments )
  • An industry-first, the application is integrated with social media and has the capability to pull in images from Facebook or upload photos

Axis Bank, India’s third largest private sector bank, today unveiled its digital retail banking roadmap. The bank aims to offer superior, multi-level, simple, instant and secured financial solution for the fast evolving NextGen – the largest user group of mobile banking, aged between 18  to 35 years.

Axis Mobile 2.0
Axis Mobile 2.0

Axis Bank sees mobile banking transactions surging over internet banking in the next five years. The transactions on Axis Mobile recorded a 10-fold increase in the last 12 months, the fastest increase among all technology channels over the same period. The bank has seen an increase in the usage of the Mobile App, up from 2% to 10% in the last two years with an average frequency of three logins per month, and expects the transactions to rise in future.

The App has been launched in partnership with Tagit, a leading Singapore mobile solutions company. The new application uses Tagit’s mobility solution platform that enables Banking ‘on-the-go’. This secure, robust and highly flexible platform offers single configuration for multiple handsets and operating systems, allowing the bank to offer new features and roll out updates faster – both at the application and the mobile operating system levels.

Mr. Rajiv Anand, President, Retail Banking, Axis Bank said: “With Online services and sales rapidly growing, we expect more than half of all transactions will be through the Internet. This adoption to new age banking, innovative and personalised multi-channel banking experience on ATM, Internet, and now the Mobile app and social media interface would be the driving force behind Axis Bank’s Digital strategy.” With an aim to reach out to 1.5 million customers the bank has launched Mobile Banking App 2.0 for its retail resident Indian customers, Mr. Anand said.

Commenting on the announcement, Mr. Sandeep Bagaria, CEO of Tagit, said: “Tagit continues to export its knowledge and experience across the globe, to meet the demands of the fast-growing international mobile market. Providing support to leading financial institutions like Axis Bank, via our secure, reliable and scalable platform, allows our customers to provide the very best mobile banking experience, affirming their position as leaders in their field, whilst increasing customer confidence in their brand.”

The first of its kind in India, Axis Mobile 2.0 offers a high level of personalisation, allowing users to customise their mobile banking experience, depending on the user segment (Youth, Premium and Prime segments). The new Axis Mobile App will provide customers a never-before experience of accessing their savings as well as credit card accounts and manage transactions including account enquiries, bill payments as well as fund transfers on their smartphones. With emphasis on safety and security Axis Bank has ensured transactions through secure onboarding and mPIN verification.

Key features of the App are:

  • Customer can access the Mobile App via a simple login, either through Internet banking or debit card credentials
  • Customers can check bank account, transfer money, pay bills, recharge their mobile/DTH through the app
  • The app allows personalisation of favorite transactions
  • Personalised page for the youth, prime and premium customers
  • Integration with Facebook and Twitter where the customer can pull images and upload photos
  • The App helps in locating the nearest branch and ATMs
  • Customer can receive customised offers on cards and reminders for bill payments through the Mobile app and can also post feedback and comments on social media

Initial downloads from the Google Play store have generated huge positive response with users appreciating the new navigation and user interface. Designed with convenience in mind, the app will be accessible across all mobile devices and operating systems. Currently available on Apple and Android phones, a version of the New Axis Mobile App will soon be made available to customers on Blackberry, Symbian, J2ME, Windows and tablet-based platforms.

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 1,947 domestic branches (including extension counters) and 11,245 ATMs across the country, as on 31st March 2013, the network of Axis Bank spreads across 1,263 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 Singapore, Hong Kong, Shanghai, Colombo, Dubai and Abu Dhabi.

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

About Tagit:
Tagit is an award-winning Singapore-based mobile solutions company. Tagit’s mobility platform Mobeix™ enables banks and enterprises to rapidly build secure, scalable and innovative mobile applications.

Its customers include leading global and regional banks in countries across Asia, Middle-East, and N. America. Tagit is the Winner of the “Emerging Enterprise Award 2012” and has been recognised as a “leading technology company in the Technology Fast 500 Asia Pacific 2012 program” by Deloitte. For more information, please visit www.tagitmobile.com