With the launch of its massive direct-to-customer fintech app, ABCD, Aditya Birla Capital Ltd. will provide a range of financial products on a single digital platform, including credit cards, payments stack, international UPI, financial goal analyzers, chatbots driven by generative AI, tax planners, and health tracking. The app, which is being tested by a select set of users and is managed by the recently established subsidiary Aditya Birla Capital Digital (ABCD), is scheduled to become live for users today.
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From payments to insurance, the fintech app will amalgamate all the group's financial offerings, along with everything else a fintech app could offer such as credit cards, payments stack, including international UPI, financial goal analysers, generative AI-powered chatbots, tax planners, and health tracking.
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āItās a full-fledged app (rather than an app-in-app). It has many industry firsts and has been meticulously built and enriched with customer insights to offer products across lending, investments, insurance, and payments. Plus, value-added services such as Credit Score, Financial Portfolio, Spend Analyzer and more. This can empower the workforce of ABCL as multi-product specialists,ā analysts at Motilal Oswal noted.
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ABCD follows what conglomerate-backed Jio Financial Services and Tata Digital have attemptedāa single super financial app with captive businesses, capital and tech muscle.
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ABCD, bundled with the services of its financial subsidiaries, including NBFC arm Aditya Birla Finance, is targeting middle-class and tech-savvy āyoung aspirers.ā
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With 762 branches and over 200,000 agents/channel partners nationwide, holding firm ABCL boasts of Rs 4.1 lakh crore of assets under management with a consolidated lending book of about Rs 1.15 lakh crore through its subsidiaries and joint ventures.
