Axis, India’s eighth largest bank by assets, recently announced the launch of its new mobile banking app 2.0 to try and attract more customers.
Launched in partnership with Singapore-based mobile software company Tagit, the app is altered for different demographics and allows a certain level of customisation.
Go deeper with GlobalData
According to Axis, the service is aimed primarily at users aged between 18 and 35, making up the largest user group of mobile banking applications.
The app hopes to differentiate itself by integrating its mobile banking services with customers’ social media platforms, in a bid to further expand its growing mobile transactions sector.
In 2013, Axis revealed that it had registered a 10-fold increase in transactions on its mobile banking system, Axis Mobile, over the past year.
Reporting a bi-annual usage increase from 2% to 10% of its mobile app, the bank expects mobile transactions to rise in the future.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataRajiv Anand, president of retail banking at Axis, said: "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".
Related articles
Vodafone and ICICI Bank launch Mobile Money Service in India
India’s Axis Bank opens retail banking subsidiary in UK
ICICI team up with Movida on mobile payments
