Axis Bank has recorded growth in its mobile banking segment with overall mobile banking spends at ₹71,444 crore in the first quarter of the financial year. This is a 90% increase from the first quarter of the previous financial year.
While the bank got its first batch of one million customers in 18 months, currently one million mobile bankers are added to the fold every three months, Rajiv Anand, Executive Director (Retail banking), Axis Bank, said at a media conference in the city on Wednesday.
Mobile banking is being used not just on smartphones but also on basic functional phones which can use some internet powered features, he added. Axis-ASAP, a mobile phone, Aadhaar and PAN-linked service currently services 7,50,000 accounts, Mr. Anand said. Axis-ASAP has reached 17,630 pin codes across the country, he added. The bank currently has 17% share in mobile banking industry market, Mr. Anand said.
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Mr. Anand confirmed that digitisation has reduced the size of the bank branches by half, during the past three to four years. While the front offices which deal with customer relations have increased, the back offices which focus on processing has reduced, he said. The bank currently has 123 branches in Telangana and 3,800 across the country. In the current financial year, the bank is expected to open 17 new branches in the State. Ten of these branches will be in Hyderabad.
Mr. Anand said over 70% of all transactions in the first quarter of the financial year were made digitally. In the retail segment, the bank recorded growth in the first quarter with personal loans and credit cards witnessing the highest growth. The bank also holds 12% market share in credit cards, he added.
Axis Bank has set up 100 micro ATMs which can process transactions by iris scan. The bank is the first in the country to introduce iris authentication for Aadhaar-based transactions through micro ATMs.
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