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From bill payments to investment solutions — here’s what to expect from Aditya Birla’s ABCD fintech app
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
With a vision to acquire 30 million customers within the next three years, KM Birla, Chairman of Aditya Birla Group, emphasised on the app’s role in leveraging India’s robust digital infrastructure.
Aditya Birla Capital, a non-banking financial company, launched a new fintech app, ABCD, on Tuesday, April 16. The company has also announced the launch of an omnichannel ABCD D2C platform to scale up its digital transformation journey.
With a vision to acquire 30 million customers within the next three years, KM Birla, Chairman of Aditya Birla Group, stressed the app’s role in leveraging India’s robust digital infrastructure.
Speaking at the launch event, Birla emphasised the nation’s strides in establishing a transformative digital ecosystem, evident in the growth of transactions via the Unified Payments Interface (UPI).
“ABCD is not just an app. It’s a testament to our commitment to meet all the financial needs of our customers seamlessly and engagingly,” said Birla.
The platform, developed in 12 months, is poised to revolutionise the financial services landscape by offering a diverse range of products and services tailored to meet individual preferences, the company said in a statement.
Vishakha Mulye, CEO of Aditya Birla Capital, highlighted the app’s role in augmenting digital services.
“We aspire to become one of the top three players in each segment of our core businesses,” said Mulye.
Backed by scalable infrastructure, user-friendly and intuitive interface, and robust functionalities, the platform will offer a simple and differentiated experience across all touch points including mobile app, website, branches, and virtual engagement channel, Aditya Birla Capital said.
Guided by a Maximum Viable Product approach, the ABCD D2C platform will offer a portfolio of 22 products and services, including facilities of a payment platform such as UPI, bill payment, and online recharges, with financial services like loans, insurance, and investments along with comprehensive personal finance tracking such as ‘My Track’, among others.
The platform will also feature ABCD’s own stack of products such as Portfolio Consolidator, Spend Analyzer, and Digital Health Assessment among others, and payment solutions.
The ABCD app will have features like multi-account payment, multi-mode receipt, and spend analysis tools, the NBFC stated.
This platform is housed under Aditya Birla Capital Digital Limited, a wholly-owned subsidiary of Aditya Birla Capital Limited.
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