Digital banking

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 DIGITAL ECOSYSTEM


BEST-IN-CLASS DIGITAL PROPERTIES

HASSLE FREE END-TO-END CUSTOMER JOURNEY

IMPACTFUL COMMUNICATION

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 and acquisitions.

INTERNET/MOBILE BANKING
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 based onboarding.

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 Account opened

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 – ENTIRELY PAPERLESS
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)

DIGITAL PAYMENTS
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.

NEW PARTNERSHIPS
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.

Impactful communication

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

16 CRORE+

Brand impressions

8 CRORE+

Video views

IMPACT OF DIGITAL CAMPAIGN

12 CRORE+

Ad impressions

5.6 CRORE+

Video views

DIGITAL ENGAGEMENTS
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

3 LAKH+
1 LAKH+
10,000+
5,000+
6,000+