Axis Bank - Enterprise Tech Ecosystem Series

Axis Bank - Enterprise Tech Ecosystem Series

Summary

Axis Bank is a provider of personal and business banking and related financial solutions. Personal banking includes accounts, deposits, cards, loans, investment solutions, insurance, non-resident Indian (NRI) services, and agriculture and rural banking. Business banking comprises corporate accounts, corporate loans, capital market services, trade and forex, and treasury services such as foreign exchange, derivatives trading, and equity and mutual funds. The bank also provides insurance solutions. It serves individual, corporate, SME, government, and NRI clients. It operates in India, the UK, Bangladesh, China, Hong Kong, Singapore, Sri Lanka, and the UAE. Axis Bank is headquartered in Mumbai, India.

This report provides insights into Axis Bank's digital transformation strategies and digital innovation programs. It also gives an overview of its technology initiatives, covering partnerships and product launches, as well as insights on each technology initiative including technology theme, objective, and benefits. In addition, the report includes details of the company's estimated ICT budgets and major ICT contracts.

As part of its digital transformation strategy, the bank has adopted a digital approach to offer personalized digital solutions and services to enhance the customer experience. It is digitalizing its product and service offerings by making online and branch improvements. Its focus is to modernize the way its products and services are delivered.

Axis Bank re-engineered its business by setting up digital infrastructure to automate processes such as capturing and validating customer data using robotic and AI tools.

Scope

• Axis Bank is exploring and utilizing technologies including AI, blockchain, cybersecurity, the cloud, payments, and mobile to achieve operational efficiencies, expand its payment solutions, and minimize security risks.
• Axis Bank is leveraging AI and machine learning technologies such as chatbots to improve turnaround times by automating back-end processes and enhancing its customers' experience.
• It has been implementing a series of measures aimed at accelerating its digital transformation, including digitalized savings bank accounts, virtual debit cards, and self-service kiosks.
• Axis has partnered with several blockchain technology solution providers to simplify cross-border and trade finance transactions.

Reasons to Buy

• Gain insights into Axis Bank's fintech operations.
• Gain insights into its digital strategies and innovation initiatives.
• Gain insights into its technology themes under focus.
• Gain insights into its various partnerships.