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    Accenture to help AU Financiers in digital banking

    Synopsis

    The banking platform, with online and mobile banking digital capabilities, will enable AuF's customers to operate their accounts from anywhere in India.

    ET Online
    Accenture has decided to help AU Financiers (AuF) set up as a small finance bank (SFB) to provide retail lending, small and medium enterprise (SME) agriculture product financing and savings products to Indian consumers.

    AuF, a Jaipur-based, non-banking finance company, was one of 10 companies granted an in-principle approval for an SFB license by the Reserve Bank of India (RBI) in September 2015.

    In a statement Au Financiers, MD, Sanjay Agarwal said, "As a small finance bank with a digital-first approach, our aim is to offer an enhanced customer experience by capturing customer imagination through our products offering and services levels. We worked closely with Accenture to develop the strategy and overall roadmap for our transition into a small finance bank."

    "Many of the 233 million unbanked population are reliant on smart phones that they could be using for banking services if such services were more readily available to them," said Rishi Aurora, managing director, Accenture financial services, India, in a statement.

    The banking platform, with online and mobile banking digital capabilities, will enable AuF's customers to operate their accounts from anywhere in India.

    Accenture will also implement a customer resource management (CRM) solution to help AuF manage customer records and relationships, and create cross sell and upsell opportunities.

    The financial terms of the contract have not been disclosed.


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    ( Originally published on Oct 17, 2016 )
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