Axis Bank has joined forces with digital banking enterprise OPEN in a bid to offer a completely native digital current account journey for SMEs, homepreneurs, freelancers, influencers and other customers.

According to the Indian private sector bank, the partnership with OPEN provides the broader business community access to its holistic banking experience along with the latter’s end-to-end financial automation tools for business management including payments, payroll, accounting, management of expenses, and various other services.

Anish Achuthan — OPEN Co-founder and CEO said: “We are really excited to be the first fintech to partner with Axis Bank to launch a fully native digital current account journey for customers. Business banking is opening up to newer and niche segments like homepreneurs, influencers etc. and we look forward to creating tailored products for them in partnership with Axis Bank.

“We will further work on integrating value-add services like term loans, revenue-based financing and more for these users.”

Axis Bank stated that the digital current account product will enable customers in saving a substantial amount of effort and time, as the authentication process will be fully digital using Aadhaar and PAN followed by a video KYC.

The contactless account opening process that removes the annoyance of paperwork courtesy of a  zero document upload feature, while enabling customers to avail over 250 banking services and claim cashback of up to 50% via grab-deals.

Sameer Shetty — Axis Bank President and Head of Digital Business and Transformation said: “At Axis Bank, we believe in putting the customer at the center of all our endeavors, while also generating shared value for all stakeholders in the ecosystem.

“We have been continuously working on innovation-led partnership models to offer digital banking solutions to customers. In this effort, we are delighted to have partnered with OPEN to offer a one-stop banking solution for businesses.”

  Axis Bank, Banking industry news, digital banking, India, OPEN, Sameer Shetty