How is digital banking important?

Digital technologies have transformed the banking industry in India to a great extent. Apart from all the convenience it offers, it also enables banks to keep up with the needs and expectations of modern consumers. AU Small Finance Bank, India’s largest small finance bank, also offers cutting-edge digital banking services by allowing customers to access a complete complement of financial services online, featuring face-to-face interaction with a banker via video chat and much more.

Take a look at what Digital Banking means and what are the advantages of digitization in banking:

What is Digital Banking?

Digital banking means when banking is done through a digital platform using the internet. It eliminates most of the paperwork related to banking, such as demand drafts, pay-in slips, cheques, etc., making the entire process hassle-free and quick. Moreover, you can manage all this from the comfort of your home or even on the go. 

At AU Small Finance Bank, we offer various digital banking services under AU 0101. Explore our digital banking options such as AU 0101 App, AU 0101 NetBanking, Video Banking, WhatsApp Banking, Missed Call Banking, and IVR banking.

What are the Top Benefits of Digital Banking?

Here are some of the top advantages of digital banking services offered by AU Small Finance Bank:

• Convenient

The most significant advantage of Online Banking is the convenience it offers. Using our digital banking, you can perform a range of banking-related activities such as fund transfers, bill payments, or checking account balances from your computer or mobile phone.

• Lifestyle Banking

When you want to do mobile/DTH recharge, book tickets, hotel bookings etc. you can enjoy exclusive offers and discounts on your AU Debit / Credit Card available through AU 0101 App and NetBanking.

• Online Payments

One of the top benefits of Digital Banking to customers is online payments. Whether you are shopping online or would like to pay bills, you can simply use AU 0101 App or NetBanking facility to make online payments. We also offer BHIM AU; a UPI enabled app that lets you transfer funds & do much more in just a few clicks.

• Connect anytime:

Get branch-like experience with Video Banking. Whether you want to open a savings account, book a fixed deposit, or transfer funds, you can securely connect with our representatives over a face-to-face call. All you need is a smartphone, tablet, computer or laptop, and a good internet connection to get in touch with us via video call.

• Accessibility:

Access banking services anytime, anywhere AU 0101 App, NetBanking, WhatsApp Banking, among others.

How Digital Banking Works?

Now that you know some of the top benefits let us help you understand how Digital Banking works. To use the AU 0101 App, you need to download it from Google Play or App Store. You can use the App for various banking and lifestyle-related services. If you have a Savings or Current Account with us, you can simply register for AU 0101 NetBanking. After logging in, customers can securely perform banking activities, like fund transfers, balance inquiries, bill payments, and more with just a few clicks.  

Reasons: Why Digital Banking has become popular nowadays!

1. You no longer need to wait in long queues to access our banking services. Through our Digital Banking, you can access anything at your fingertips

2. Keep track of your transactions on the go. Use AU 0101 NetBanking, it is easy to access your account anytime you wish to.

3. Digital banking, especially in the form of mobile banking, has eased the life of working-class people in top metro cities. For instance, people can access AU Small Finance Bank’s services by downloading AU 0101 App.

4. Wider opportunity to shop online. Using AU 0101 App & NetBanking, grab attractive offers and deals from top brands like Myntra, MakeMyTrip, Swiggy, JioMart, Domino’s, Emeritus, Udemy, etc.,  

5. Offline ITR filing requires you to go through endless paperwork. Using our digital banking services, it is easy to file IT returns and make subsequent tax payments in just a few clicks.

What are the Latest Technologies Used in Digital Banking?

Some of the new technologies in the banking sector are as follows-

• AI-based facial recognition

AU Small Finance Bank relies on Artificial Intelligence (AI) and Machine Learning for Video Banking services to offer improved customer experience.  The technologies can help us provide customized services and products to customers.

• Improved Security to Prevent Frauds

Online frauds continue to be a problem for the Digital Banking industry. Improved security tools and technologies help us mitigate such risks when customers transfer funds or make cardless transactions online.

The Future of Digital Banking

The future of banking in India is digital. With a customer base of more than 1.8 million, AU Small Finance Bank is one of the digital banking pioneers in the country. With products and services like Video Banking, WhatsApp Banking, and AU 0101 App, we offer a revolutionised banking experience to our customers.  The combination of a strong foundation and cutting-edge innovations has helped AU Small Finance Bank offer an intuitive banking experience to modern, fast-paced customers.