Aditya Birla Capital sees digital platforms driving growth
Subscribe to enjoy similar stories. Mumbai: Aditya Birla Capital is banking on three digital platforms to drive growth, as it looks to stand out in a space marked by stiff competition. The financial services arm of the Aditya Birla conglomerate has already launched two of these platforms.
While Udyog Plus for small businesses was launched in May 2023, the direct-to-consumer (D2C) platform ABCD was launched in April. The third platform, meant for distributors and channel partners, will be launched in the next two-three months, said Pankaj Gadgil, chief executive of Aditya Birla Housing Finance, and head of digital platforms and payments strategy for Aditya Birla Capital. “The third platform is the B2D (business to distributor) platform.
Aditya Birla’s strength also lies in the over 200,000 channel partners," said Gadgil, adding that these are mutual fund distributors, independent financial advisors and others. He said that the new platform would make onboarding simpler and faster. There are over a million customers registered on Udyog Plus and ABCD saw 800,000 registrations, as per information presented to analysts on 1 August.
Mint reported on 16 April how the group is banking on ABCD, built at a cost of ₹100 crore, to nearly double its customer base in three years and keep pace with the expected growth in India’s financial services industry. Aditya Birla Capital is looking to add 30 million customers to its current base of 35 million over three years on the back of the ABCD platform. Gadgil, who worked at private sector lender ICICI Bank for close to two decades before joining Aditya Birla Capital in 2022, has experience across retail and business banking, small and medium enterprises, and payments.
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