AU Small Finance Bank has recently completed 6 year as a small finance bank and 28 years as an institution. Sanjay Agarwal, MD & CEO, and Uttam Tibrewal, Executive Director, AU Small Finance Bank, throw light on the bank's digital journey so far and the path ahead at the recent earnings call conference and investor presentation.
A INNOVATIVE DIGITAL PRODUCTS
In wheels business AU Bank is implementing Salesforce's LOS along with underwriting tool by FICO to enable straight through processing of vehicle loans. When the bank started this journey from its oldest business, it envisaged implementing similar processes for all the loans in the bank.
Key IT highlights of the bank include upgrade of its core banking system, enhancing data centre capacity and scaling its digital propositions further. The bank has been working across all aspects of technology, be it core technology stack digitization, automation, data analytics and digital customer facing propositions. Agarwal informs: "On the digital front, we continue to deliver innovative products and upgrade existing offerings. We have recently launched a Digital Current Account, Swipe Up Card, Credit Card Upgrade Program and industry-first offering around bill payments over video banking. Our digital insurance and wealth proposition have also started gaining traction and this year we would further enhance and scale this. We will also be soon launching a merchant app. Our tech outlook remains very strong."
Esta historia es de la edición June 2023 de Banking Frontiers.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición June 2023 de Banking Frontiers.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor? Conectar
Transforming Tech Team from Generalists to Specialists
Gaurav Jalan, CEO of mPokket, dives into cloud data storage and machine learning for smarter lending decisionsm and strategic vendor partnerships, shaping mPokket’s agile tech ecosystem for growth:
Metabase, a unique cloud computing experiment by BEA
Hong Kong based Bank of East Asia, takes up a unique initiative in migrating to the cloud:
Radian Finserv empowers dreams across 5 states
Partha Sengupta, COO at Radian Finserv, reveals the company’s highest standards of service and integrity in all operations & expansion plans:
The day is when brands bring customers to banks
Credit Card-as-a-Service will enable every business to issue a card of its own:
A digital thrust for Islamic Banking
Kuwait Finance House is a totally Shari’a compliant bank that used digital tools to its full capacity:
No escape from the law
A woman entrepreneur in Vietnam was sentenced to death recently for causing irreparable loss to a bank:
ARDB Computerization to boost agri & rural economy
Agricultural and Rural Development Banks (ARDBs) play a vital role in India’s cooperative sector by providing financial services and credit to farmers and rural communities.
Digital helps Branches boost Customer-Centricity
Public sector banks in India, long cherished for their reliability and extensive reach, are at a pivotal juncture.
Actionable Insights & Data Visualization empowers Belstar field force
Dhanasekaran S, CTO at Belstar Microfinance narrates the needs of the field force and developing a solution that empowers them:
Banks gearing up to buy Cyber-insurance
Recent years have seen a concerning uptick in cyber incidents against banks. In 2023, a data breach at Bank of America exposed over 57,000 customer accounts.
