Over the past couple of decades, the Indian banking sector has undergone a paradigm shift. From the financial inclusivity of marginalised sections in society, to the use of digital banking platforms and paperless banking, the sector has come a long way. Several banking institutions have been instrumental in providing convenient banking experience to customers, including Small Finance Banks (SFB) like AU Bank.
Since its inception as an SFB in April 2017, and gaining the Scheduled Commercial Bank status in November 2017, the Bank has focused on offering the most relevant solutions to its customers' evolving needs. This dedication of catering to the customer's needs and providing them a better banking experience is summed up in #BadlaavHumseHai, where we have questioned the old paradigms of banking, to bring change or a much-needed improvement in aspects where it is due.
AU Bank has embodied the 'Badlaav' or change in the Indian banking sector by offering a wide-range of tangible products and services, such as monthly interest payout, Video Banking, new age Credit Cards, anywhere banking, etc.
Today, as people live a fast-paced lifestyle, they expect banks to offer them on-the-go services. AU Small Finance Bank understands this, and with a customer-first approach, aims to help customers get freedom from tedious processes and queues. With its philosophy of 'Badlaav Humse Hai,' AU Bank will establish its relevance and cater to people across newer geographies in India.
The Badlaav that AU Small Finance Bank aims to introduce in the Indian banking industry keeps human well-being, happiness, and evolution at its core. It is a desirable change that was long due. Let us look at some of the highlights of the Badlaav.
An excellent service that is an inherent part of the #BadlaavHumseHai initiative by AU Small Finance Bank is the monthly interest pay-out on Savings Account balance. The monthly interest payout helps customers grow their savings faster compared to their Savings Account in other banks that pay interest quarterly.
Read More: - Monthly Interest Payout on Savings Account
AU Video Banking Service via AU 0101 App/NetBanking offers customers a branch-like Banking experience from the comfort of their homes. Customers can use the superpower of Video Banking and do almost anything and everything they can do at a branch. From opening a Savings Account to upgrading and raising a request for Cheque Book, Video Banking allows customers to do all non-cash banking services over a simple video call.
The service is easy to use; it is as simple as video calling a friend or a family member. Customers can connect with the bank representative or schedule a call later at their convenience.
When customers visit the bank to deposit money, one of the prerequisites is to fill out a deposit slip. Many banks continue to follow this practice without realising the fact that many customers feel overwhelmed while filling these slips. A small error and they would have to redo the whole exercise. Many people think filling out a form/slip to deposit in their account is redundant.
AU Small Finance Bank realised a pressing need to change this age-old practice and introduced Deposit Receipts. Now customers need not fill out any form or worry about carrying a pen to the bank; they can deposit the money at the bank and instead, get a Deposit Receipt immediately.
People often run from one bank branch to another to get simple things done. AU Small Finance Bank aims to give customers the freedom from visiting their home branch only for availing of specific services. With AU Bank, customers can avail of any banking service they want in any branch PAN India, at no additional cost.
#BadlaavHumseHai is a revolutionary idea, and it is sure to change the face of Indian banking forever.