Smart way of banking
Digitalisation has been reshaping the Indian banking industry
over the past few years, aided by the emergence of newer
distribution models and the overall development of our nation.
At AU Bank, we are taking advantage of the fast emerging parallel
and complementary ecosystem by investing in and implementing
useful, customer friendly digital products and solutions.
FACETS OF OUR
HASSLE FREE END-TO-END
Best-in-class digital properties
AU BANK WEBSITE
We went LIVE with our upgraded website
during the year. Apart from improving
the Ul/UX, we enhanced the search
engine optimisation (SEO) capabilities
and overall content. We have upgraded
our website in an active mode across
two locations with zero downtime
to provide seamless customer experience.
AURO: AI-POWERED CHATBOT
Chatbots are an integral part of our strategy to provide a seamless
and humanised customer experience. During FY 2019-20, we
launched Auro, our artificial intelligence (AI)-powered chatbot. Our
chatbot enters into smart conversations on behalf of the Bank
with our consumers, driving engagement, servicing, transactions
The retail net banking platform was also upgraded with improved Ul/UX features and we added
more than 10 functional modules. Corporate internet and mobile banking platforms were also
upgraded with additional features related to bill payments and tax payments, among others.
Mobile banking and Internet banking (volume)
Mobile banking and Internet banking (value)
Hassle-free customer journeys
We are actively using India Stack for developing
paperless onboarding across all our products. Currently,
we are facilitating this via Aadhar authentication
(Biometric as well as OTP) for all liability customers for
their Savings Account, Current Account (Companies
as well as partnerships) and Fixed Deposits. Selfonboarding
of Savings Account is also available on
Android where customers can open a limited KYC
account in real time. We will soon implement video KYC
We are also allowing cash deposits/cash withdrawal on
Tabs through our Business Correspondents. Currently,
we are facilitating paperless onboarding for all liability
customers for their Savings Account /Current Account
(individual) on Tab today.
TAB based paperless onboarding – Savings
PAPERLESS LOAN ORIGINATION
We have already rolled out Self and Assisted process for our Two-Wheeler and Consumer Durables loans by using
Aadhaar, e-Mandate and e-Sign. This is now being extended to Personal Loans, Wheels and Small Business Loans.
We are also working on making the loan origination process for corporate loans paperless. We believe this is a winwin
proposition, which should scale up as its familiarity and reach increases.
Paperless disbursements (` in crore)
TWO-WHEELER JOURNEY –
Our two-wheeler loan product is best-in-class
in terms of the convenience and the speed
it provides to both customers and dealers.
From the first time a customer meets us at
the dealership to the time of disbursal, we
have leveraged our digital capabilities to
make the process entirely paperless. Only
biometric authentication and e-sign along
with Aadhaar and PAN card details are
needed for the process to be completed. The
payment to the dealer is also made on the
same day the delivery order is issued, which
is the fastest in the industry. Further, this
process is more environment friendly, and
also helps us capture, maintain and retrieve data much more efficiently.
Growing alternate delivery channel
(ADC) transactions (in lakh)
During the year under review, we went Live with UPI, 24x7 NEFT, bill payment on web, e-Mandate and contactless
debit card, among others. We are in the advanced stages of adding other value propositions such as Fastag, BBPS,
and prepaid cards. UPI adoption has been encouraging for small and medium payments. We facilitated over 1.07
crore UPI transactions totalling ` 2,500 crore in value during FY 2019-20.
We have added a number of services in our Open
Banking Framework. This has enabled us to
partner with the right set of Fintech companies.
Currently, we are working with them in the
personal lending space and have built end-toend
capabilities to digitally onboard and service
customers. We are extending our partnerships
to the payments, wealth and insurance sectors.
In line with our endeavour to provide customer
delight, we have partnered with multiple
consumer brands to provide privileges to our
customers on their AU Bank debit card across
categories like travel, shopping, entertainment,
business, health and wellness.
DIGITAL CAMPAIGN— #BHAROSAAPNOJAISA
Our #BharosaApnoJaisa ad campaign showcases how we have earned and strengthened the trust of over 20 lakh customers through 25 years of continuous and reliable service. The campaign uses four ads depicting four stories from everyday life that resonate our key values of samajhdaari (prudence), imaandaari (honesty) and zimmedari (responsibility) and drives a compelling sense of purpose at AU Bank—#BharosaApnoJaisa. We used Hotstar, Facebook, Youtube, SonyLiv, Zee5, Twitter, ET app and SMS for our digital campaigns.
SOCIAL MEDIA IMPACT
IMPACT OF DIGITAL CAMPAIGN
We regularly send out SMS and emails on promotions, offers and product updates. We are in the process of building an analytics model to arrive at the most optimal communication channel by customer type. We went live with ‘WhatsApp for Business Communication.’
During FY 2019-20, we reached out to over 3 lakh customers through emailers, with an approx. 2X average open rates against the benchmarks in the industry.
To drive customer engagement for our debit cards and internet banking, we rolled out a dedicated offers platform for AU Bank customers.
For internal communication, we actively use chat platforms (Kaizala) and collaboration tools (Teams).
AU BANK’S SOCIAL MEDIA FOLLOWING