Axis Bank is undertaking a plan to migrate its customers not using smartphones to mobile banking platform by eliminating the complexities and the use of internet. According to Rajiv Anand, ED and head of Retail at the bank, around 66% of individual customer transactions are from digital channels and over half of them are from the mobile and hence mobile is already the pre-dominant channel. He said the bank has introduced Axis Ok, which uses USSD and SMS banking platforms allowing customers to undertake fund transfers, balance enquiry, phone or direct-to-home TV recharges and other transactions. He added the bank’s technical team has been able to get rid of the complexity of the dialing and connecting using alpha-numeric characters by introducing a simple app. The is available in six languages at present, he said.
