Axis Bank rises on partnering with OPEN to launch fully digital current account proposition for businesses

Axis Bank is currently trading at Rs. 950.25, up by 10.30 points or 1.10% from its previous closing of Rs. 939.95 on the BSE.

axis bank trades in green on bourses
Axis Bank

The scrip opened at Rs. 945.00 and has touched a high and low of Rs. 958.85 and Rs. 941.10 respectively. So far 123063 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 970.45 on 04-Jan-2023 and a 52 week low of Rs. 618.10 on 23-Jun-2022.

Last one week high and low of the scrip stood at Rs. 970.45 and Rs. 930.05 respectively. The current market cap of the company is Rs. 292394.80 crore.

The promoters holding in the company stood at 9.69%, while Institutions and Non-Institutions held 78.36% and 11.94% respectively.

Axis Bank has partnered with the world’s fastest-growing digital banking enterprise, OPEN, to provide a fully native digital current account journey for its customers including SMEs, freelancers, homepreneurs, influencers and more.

This partnership offers the larger business community access to Axis Bank’s holistic banking experience coupled with OPEN’s end-to-end financial automation tools for business management including payments, accounting, payroll, compliance, expense management and several other services.

This is Axis Bank’s first-ever partnership with a fintech player to launch a fully digital current account. The product is already live on OPEN’s website.

This digital current account product will help customers save a significant amount of time and effort, as the authentication process will be completely digital using PAN and Aadhaar followed by a Video KYC.

The comfort of a contactless account opening process that takes away the hassle of paperwork with a zero document upload feature, makes this current account product significantly different from others in the market. Using this account, customers can avail 250+ banking services and claim up to 50% cashback through grab-deals.

With this partnership, all existing Axis Bank account holders also get access to OPEN’s all-in-one digital banking platform that is used by over 30 lakh businesses currently.

Axis Bank is the third largest private sector bank in India. The bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.

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