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Kotak Mahindra Bank to double customer base using 811

Kotak Mahindra Bank, which recently launched its 811 service, intends to double its customer base to 16 million in the next 2 years. The bank will make use of the 811 service, which is an all-digital, zero balance account, to achieve this target. Ambuj Chandana, senior executive vice president of the bank, said the app-based savings account is gaining popularity among young banking customers and most of the customers are below 40 years of age, indicating that the young crowd is interested in the service, he said. He added that the digital banking platform has received huge response and the service would help the bank in doubling its customer base.

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