Growth mantra - go deep, stay ag­ile, be de­light­ful


Banking Frontiers - - AxisDirect - Me­hul@bank­ingfron­

Axis Se­cu­ri­ties has regis­tered a strong growth in Q1 FY 2018-19. It has a strong base of over 1.9 mil­lion cus­tomers. Its flag­ship brand Ax­isDirect is one of the fastest grow­ing play­ers in the in­dus­try and is among the top 3 in terms of to­tal cus­tomer base. Ac­cord­ing to Arun Thukral, MD & CEO, Axis Se­cu­ri­ties, the com­pany has regis­tered a 366% growth in av­er­age daily turnover as com­pared to a year ago pe­riod. Its SIP ex­e­cu­tions in Q1 FY 2018-19 too have wit­nessed a 113% yoy rise.

The com­pany’s monthly SIP num­bers are stand­ing around `73 bil­lion in July 2018 com­pared to `35 bil­lion in July 2017 and just `15 bil­lion in late 2014. It ex­pects the growth mo­men­tum to con­tinue. Says Thukral: “The mu­tual fund in­dus­try’s as­set base is ex­pected to touch Rs100 tril­lion by 2025. In the cur­rent fi­nan­cial year, SIPs would con­tinue to be a strong con­trib­u­tor.”


For any or­ga­ni­za­tion to adopt per­son­al­iza­tion, it needs to know what cus­tomers like to do when they lo­gin to their ac­counts. This can be achieved by an­a­lyz­ing his­tor­i­cal data, de­mo­graphic data, app/ web an­a­lyt­ics, real-time in­for­ma­tion and cus­tomer in­ter­ac­tions (through call cen­ter, branch or chat­bot NLP). Such data when fed to the rec­om­mender en­gine can pro­vide more rel­e­vant in­for­ma­tion to the users through dash­boards, no­ti­fi­ca­tions, emails that are real-time and ex­tremely per­sonal to the user. Thukral says Ax­isDirect is now in the process of cre­at­ing hy­per-per­son­al­ized user ex­pe­ri­ence through cus­tomer an­a­lyt­ics. “We plan to stay ag­ile and lead tech­nol­ogy in­no­va­tion by tak­ing big strides in mo­bile space by lever­ag­ing next-gen tech­nolo­gies primed with ar­ti­fi­cial in­tel­li­gence and ma­chine learn­ing. We also aim to pro­vide sim­ple yet pow­er­ful and highly per­son­al­ized user in­ter­face to our cus­tomers. We want to cre­ate cus­tomer de­light through great om­nichan­nel user ex­pe­ri­ence,” says he.

In the last 8 years, Ax­isDirect has grown and plans to keep pace with this growth through a 3-pronged strat­egy - (i) Go deep, (ii) Stay ag­ile and (iii) Be de­light­ful. Ex­plans Thukral: “We be­lieve that In­dia is deeply un­der­pen­e­trated with 3-4% pop­u­la­tion par­tic­i­pat­ing in the eq­uity mar­kets and the po­ten­tial for ex­pan­sion is enor­mous. There­fore, we want to take the Blue Ocean strat­egy and reach out to new cus­tomers by cre­at­ing more aware­ness about the ben­e­fits of eq­uity as an as­set class.”


Ax­isDirect has been win­ning im­por­tant awards on a reg­u­lar ba­sis. It won ‘BSE Com­mod­ity Eq­uity Out­look Award in the cat­e­gory of ‘Top Eq­uity Bro­ker’ at the CEO Week­end 2018 event, or­ga­nized by Te­fla, sup­ported by Bom­bay Stock Ex­change (BSE), As­so­ci­a­tion of Na­tional Ex­change Mem­bers of In­dia (ANMI) and Com­mod­ity Par­tic­i­pants As­so­ci­a­tion of In­dia (CPAI). The BSE CEO awards of the Year 2018 have also been won by other lead­ing com­pa­nies, like An­gel Broking (Best Trad­ing Plat­form), Ko­tak Com­mod­ity Ser­vices (Com­mod­ity Re­search), SIDBI (Con­tri­bu­tion for the Growth of SME Sec­tor), MCX (Com­mod­ity Ex­change (Met­als & En­ergy)), BSE (Best Ex­change (Cur­rency De­riv­a­tives Seg­ment), AN­GEL BEE- An­gel Broking (Best Mo­bile App for Mu­tual Fund In­vest­ments) and Narno­lia Fi­nan­cial Ad­vi­sors (Most Con­sis­tent Port­fo­lio Man­ager).

Thukral says the award is recog­ni­tion of the com­pany’s ef­forts to cre­ate value for its clients, for its cus­tomer-fo­cused ap­proach that en­abled it to garner the very large in­vestor base within the short span of 7 years. “Last year we ac­quired more than 450,000 clients and in terms of Unique Traded Clients (UTCs) we are now among the top 5 eq­uity broking houses. In client ac­ti­va­tions, we achieved a sig­nif­i­cant mile­stone dur­ing the last fi­nan­cial year. All these achieve­ments make us a clear win­ner,” says he.

Ax­isDirect’s guid­ing phi­los­o­phy is to keep in­vest­ing sim­ple in or­der to en­sure cus­tomer de­light through all its ini­tia­tives. Its web-por­tal is one of the most sim­pli­fied web por­tals across the in­dus­try and it has won the DMA In­dia Awards as well as IndiPool Best De­sign Stu­dio Awards in the best web­site cat­e­gory in 2017. “Our in­no­va­tive real-time emails which pro­vide the live mar­ket data on email have won DMA In­dia, DMA Asia as well as DMA In­ter­na­tional awards,” says Thukral, adding the com­pany’s mo­bile app also has one of the best cus­tomer adop­tions with more than 60% of our vol­umes hap­pen­ing through the app. Ax­isDirect is also the first bro­ker­age house to launch an AI-pow­ered chat­bot on What­sApp, which em­pow­ers cus­tomers to get their port­fo­lio, re­search and mar­ket up­dates on the go with­out any sub­scrip­tion charges.

Arun Thukral out­lines Ax­isDirect’s in­tent to cre­ate hy­per-per­son­al­ized user ex­pe­ri­ence through cus­tomer an­a­lyt­ics

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