Dig­i­tal trans­ac­tions ..................................

Banking Frontiers - - Contents -

Take a peep into its dig­i­tal strat­egy and fu­ture plans:

Aim­ing to make in­vest­ments sim­ple and com­pletely has­sle-free for its clients, Axis Se­cu­ri­ties has been ex­pand­ing its dig­i­tal foot­prints and lever­ag­ing tech­nol­ogy to of­fer sim­plis­tic so­lu­tions. It is in­creas­ingly fo­cus­ing on its web­site and mo­bile app and mak­ing them more in­tu­itive and user-friendly.

Amit Go­lia, chief busi­ness of­fi­cer at the firm, says today the com­pany has the best in the class web­site, rec­og­nized for its design and rich fea­tures on var­i­ous in­dus­try plat­forms. The mo­bile app has seen the high­est adoption rate in the in­dus­try be­cause of its ease of use, he says, adding: “We have made it eas­ier for re­tail in­vestors to trade all prod­ucts with the click of a few but­tons. In fact, we have be­come the first bank-led bro­ker to pro­vide a com­pletely dig­i­tized trad­ing and de­mat ac­count open­ing ex­pe­ri­ence to po­ten­tial cus­tomers. Any­one can now open a trad­ing and de­mat ac­count dig­i­tally with Axis Direct in just 15 min­utes. We have cov­ered a lot of ground in terms of our dig­i­tal strat­egy this year. In the next phase, we want to fo­cus on in­tro­duc­ing tech­nol­ogy-driven so­lu­tions to of­fer more rel­e­vant mar­ket in­tel­li­gence to our cus­tomers through dash­boards, no­ti­fi­ca­tions and emails that are hy­per­per­son­al­ized in na­ture.”

81% DAILY DIG­I­TAL TURNOVER

As the com­pany focused on en­rich­ing the on­line ex­pe­ri­ence of its cus­tomers, the cus­tomers are ap­pre­cia­tive of the ease of trans­ac­tion of­fered by its mo­bile app. Today, it is one of the fastest grow­ing mo­bile plat­forms in the in­dus­try. Go­lia of­fers sta­tis­tics: “Around 81% of our av­er­age daily turnover is be­ing gen­er­ated through our dig­i­tal chan­nels. Trans­ac­tions via dig­i­tal chan­nels recorded a 232% growth from FY2018 to FY2019. The con­tri­bu­tion of mo­bile trans­ac­tions in over­all trans­ac­tions too in­creased from 42% in FY2018 to 64% in FY 2019.”

HYPER-PER­SON­AL­IZED

With global play­ers with their AI and ML-pow­ered plat­forms facilitati­ng a very per­son­al­ized ex­pe­ri­ence, cus­tomers now ex­pect such func­tion­al­i­ties by de­fault once they log into their trad­ing ac­count. “Hence, we fo­cus on of­fer­ing a hyper-per­son­al­ized ex­pe­ri­ence to our cus­tomers. We use our back-end tools to map a cus­tomer’s jour­ney and iden­tify which stage of the pur­chase cy­cle they are in. This in­for­ma­tion en­ables us to per­son­al­ize com­mu­ni­ca­tion and ser­vice of­fer­ings, thereby en­sur­ing that they only re­ceive in­for­ma­tion per­ti­nent to them. We be­lieve in stay­ing connected with our cus­tomers through reg­u­lar com­mu­ni­ca­tion across chan­nels. We have au­to­mated most of our client com­mu­ni­ca­tion to make it more in­tu­itive,” says Go­lia.

The CRM plat­form now has live chat and co-brows­ing func­tion­al­i­ties in ad­di­tion to the cur­rent so­cial me­dia sup­port. It is also strength­en­ing its chat­bot plat­form to sup­port cus­tomer queries on a 24x7 ba­sis.

AU­TOMAT­ING PRO­CESSES

Axis Se­cu­ri­ties has a strong IT team of over 30 mem­bers who are con­stantly en­gaged in test­ing and en­hanc­ing the ef­fi­ciency of the dig­i­tal so­lu­tions as also im­prov­ing the dig­i­tal pres­ence of the com­pany.

Says Go­lia: “We re­al­ize that in the cur­rent dig­i­tal age, ev­ery em­ployee has a ba­sic un­der­stand­ing of this medium. In fact, most em­ploy­ees ac­tively try to learn new dig­i­tal skills to add depth to their pro­file. In­ter­nally, we also strive to sim­plify and au­to­mate mun­dane ac­tiv­i­ties to im­prove em­ployee ef­fi­ciency. To­wards this end, our IT team is work­ing with ex­ter­nal ser­vice providers for au­tomat­ing our op­er­a­tional, risk, HR and IT pro­cesses.”

#HOSAKTAHAI

Axis Se­cu­ri­ties has a rel­a­tively strong pres­ence across so­cial me­dia plat­forms. It makes use of this po­ten­tial to have mean­ing­ful com­mu­ni­ca­tion with its ex­ist­ing and would-be clients. To make its plat­forms more rel­e­vant for its tar­get au­di­ence, it runs var­i­ous cam­paigns and en­gages in di­a­logues with cus­tomers to of­fer them so­lu­tions for their queries. “Re­cently,” says Go­lia, “we ran a cam­paign called #HoSaktaHai to drive home the point that ev­ery fi­nan­cial goal is pos­si­ble to achieve with the right in­vest­ment ap­proach. We pro­moted var­i­ous prod­ucts through this cam­paign which re­ceived pos­i­tive feed­back from our so­cial me­dia fol­low­ers. We or­ga­nize fre­quent chats for our fol­low­ers with our ex­perts to give them clar­ity and dis­pel var­i­ous myths re­gard­ing in­vest­ments.”

BET­TER UI/UX

The com­pany is con­stantly up­grad­ing its dig­i­tal plat­forms to be of ben­e­fit to its cus­tomers. Says Go­lia: “We are plan­ning to re­vamp our mo­bile app and web trad­ing plat­form this year. With this new plat­form, we should be able to en­sure that our cus­tomers can trade across all prod­ucts. It will of­fer tech­ni­cal en­rich­ments which tar­get to im­prove ex­e­cu­tion speed and ease of use with bet­ter UI/UX. We are also plan­ning to as­so­ciate with fin­tech part­ners to launch in­no­va­tive value-added prod­ucts and ser­vices. This year, our in­ter­nal in­no­va­tion team seeks to col­lab­o­rate with leading Fin­tech play­ers to work on cut­ting-edge ini­tia­tives in cus­tomer an­a­lyt­ics, pre­dic­tive an­a­lyt­ics, rec­om­mender en­gine and AI/ML space.”

Amit Go­lia out­lines plans to col­lab­o­rate with fin­techs for cus­tomer an­a­lyt­ics, pre­dic­tive an­a­lyt­ics, AI/ML space

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.