Aditya Birla Capital announced the launch of its omnichannel D2C platform ABCD making “Everything Finance as Simple as ABCD”. This platform is housed under Aditya Birla Capital Digital Limited (“ABCDL”), a wholly owned subsidiary of Aditya Birla Capital Limited (“ABCL”).
Through this platform, Aditya Birla Capital targets to add 30 million new users over the next 3 years. Backed by scalable infrastructure, user-friendly and intuitive interface, and robust functionalities, the platform offers a simple and differentiated experience across all touch points including mobile app, website, branches, and virtual engagement channel.
Kumar Mangalam Birla, Chairman Aditya Birla Group said that the launch of omnichannel D2C platform ABCD will meet all financial needs through a unified digital-first solution.
“Making finance as simple as ABCD, we have prioritised on user experience and tried making the process as seamless as possible. ABCD is built by team of banks, fintech and other financial institutions, and it took a period of only 12 months to create the app,” the Chairman stated during the launch event in Mumbai on Tuesday.
Guided by a Maximum Viable Product approach, the ABCD D2C platform offers a comprehensive 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 also features ABCD’s own stack of products such as Portfolio Consolidator, Spend Analyzer, Digital Health Assessment among others, and Payment solutions to address the diverse needs of customers through a single platform. |
With features like multi-account payment, multi-mode receipt, and spend analysis tools, ABCD is set to redefine the digital financial experience.
During the launch, the Chairman further revealed that the group would be launching a retail jewellery venture with an initial investment of Rs 5000 crores in the coming few months. This will be in addition to the paints vertical Birla Opus which the group recently launched.
Apart from the product launch, Chairman Kumar Birla highlighted how over the past decade India has built path breaking digital platforms.
“India is the global leader in developing Digital Public Infrastructure (DPI). We have demonstrated the power of digital as a force for good,” he asserted.
He further highlighted how Aditya Birla Capital has emerged as a key growth engine for the group, delivering strong growth with consolidated revenue growing by 22 per cent year-on-year to Rs 23,566 crores and consolidated PAT growing by 44 per cent year-on-year to Rs 2,090 crores in the first 9 months of FY2024.
In terms of physical presence, Vishakha Mulye, CEO, Aditya Birla Capital Limited highlighted in the launch event that ABCL has 1,462 branches across the country, with over 500 branches added in the last 2 years. In line with its One ABC approach, about 762 co-located branches across 218 locations were also set up to service customers seamlessly under one roof.
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