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Axis Bank Plans Major Mobile Banking Push, Aims to Reach Out to

Mumbai, Maharashtra, India, Tuesday, October 01, 2013 -- (Business Wire India)

-- With Online services & sales rapidly growing more than half of all transactions are expected to be through the internet

-- Personalised Mobile Banking app, to enable simple Banking services available on your handheld devices

-- The first of its kind in India, Axis Mobile 2.0 offers a high level of personalization, allowing users to customize their mobile banking experience, depending on the user segment ( Youth, Premium & 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 for beneficiaries

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 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 in the same period. The bank has seen an increase in the usage of Mobile App - from 2% to 10% in last 2 years with an average frequency of 3 logins per month, and expects the transactions to rise in future.

Mr. Rajiv Anand, President, Retail banking, Axis Bank said: “With Online services & sales rapidly growing we expect more than half of all transactions will be through the internet. This adoption to new age banking, innovative and personalized multi-channel banking experience on ATM, Internet, and now the Mobile app and social media interface would be the driving force Axis Bank's Digital strategy.”

With an aim to reach out to 15 lakh customers the bank has launched Mobile Banking App 2.0 for its retail resident Indian customers, Mr. Anand said.

The first of its kind in India, Axis Mobile 2.0 offers a high level of personalization, allowing users to customize their mobile banking experience, depending on the user segment (Youth, Premium& 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 by 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 personalization of favorite transactions

-- Personalized page for the youth, prime and premium customers

-- Integration with Facebook and Twitter where the customer can pull images and upload photos for beneficiaries

-- The App helps in locating the nearest branch and ATMs

-- Customer can receive customized 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.

About the App

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 & 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.

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 2,021 domestic branches (including extension counters) and 11,488 ATMs across the country, as on 30th June 2013, the network of Axis Bank spreads across 1,300 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 offers comprehensive details about its products and services.

About Tagit

Tagit is an award-winning Singapore-based mobile solutions company with a mobile banking and commerce platform which provides secure, scalable and innovative solutions for financial institutions and enterprises, to extend their web-based services to the mobile channel in a seamless and cost-efficient manner. Tagit's mobility platform Mobeix enables rapid mobilization of banks and enterprises, payment switches and aggregators to deliver transactions with high security and scalability. Tagit is the Winner of the "Emerging Enterprise Award 2012" and has the distinction of being recognised as a "Singapore SME 1000" company based on its outstanding financial performance. The company is also ranked in the Deloitte Technology Fast 500 (Asia Pacific).

It has an impressive list of marquee bank customers in 10 countries across Asia, Middle-East, and N. America.

Media contact details

Suresh Warrier, Axis Bank, +91 (22) 242545601,

Parminder Panesar, Axis Bank, +91(22) 24255619,

Tayyab Imadi, +91 9967212492,

Shreya Banda, +91 9930007645,

Contributed via: Bloomberg Publisher WEB Service

Provider ID: 91044aa397eb4ab988308c8ceb90cae6

-0- Oct/01/2013 13:21 GMT

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