From bill payments to investment solutions — here's what to expect from Aditya Birla's ABCD fintech app (2024)

Aditya Birla Capital, a non-banking financial company, launched a new fintech app, ABCD, on Tuesday, April 16. The company has also announced the launch of an omnichannel ABCD D2C platform to scale up its digital transformation journey.

With a vision to acquire 30 million customers within the next three years, KM Birla, Chairman of Aditya Birla Group, stressed the app's role in leveraging India's robust digital infrastructure.

Speaking at the launch event, Birla emphasised the nation's strides in establishing a transformative digital ecosystem, evident in the growth of transactions via the Unified Payments Interface (UPI).

"ABCD is not just an app. It's a testament to our commitment to meet all the financial needs of our customers seamlessly and engagingly," said Birla.

The platform, developed in 12 months, is poised to revolutionise the financial services landscape by offering a diverse range of products and services tailored to meet individual preferences, the company said in a statement.

Vishakha Mulye, CEO of Aditya Birla Capital, highlighted the app's role in augmenting digital services.

"We aspire to become one of the top three players in each segment of our core businesses," said Mulye.

Backed by scalable infrastructure, user-friendly and intuitive interface, and robust functionalities, the platform will offer a simple and differentiated experience across all touch points including mobile app, website, branches, and virtual engagement channel, Aditya Birla Capital said.

Guided by a Maximum Viable Product approach, the ABCD D2C platform will offer a 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 will also feature ABCD’s own stack of products such as Portfolio Consolidator, Spend Analyzer, and Digital Health Assessment among others, and payment solutions.

The ABCD app will have features like multi-account payment, multi-mode receipt, and spend analysis tools, the NBFC stated.

This platform is housed under Aditya Birla Capital Digital Limited, a wholly-owned subsidiary of Aditya Birla Capital Limited.

From bill payments to investment solutions — here's what to expect from Aditya Birla's ABCD fintech app (2024)

FAQs

From bill payments to investment solutions — here's what to expect from Aditya Birla's ABCD fintech app? ›

Guided by a Maximum Viable Product approach, the ABCD D2C platform will offer a 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 ...

How does Fintech app work? ›

Fintech aims at providing simple analytical tools to organize financial data and list transactions. It also builds financial programs that help users enjoy an easy interface experience. It should be mandatory for all Fintech apps to have real-time analytics to record and trace finances.

What is the customer care number of Aditya Birla Money? ›

Call our toll-free number in India, 1800-270-7000, using your registered mobile number. When you reach our customer care executive, explain your concern or issue in detail.

How much money does fintech give you? ›

Fintech Salary
Annual SalaryMonthly Pay
Top Earners$184,500$15,375
75th Percentile$151,000$12,583
Average$123,495$10,291
25th Percentile$88,000$7,333

How does fintech payment work? ›

There are many ways to use fintech, but in general terms, fintech works by digitally transferring money. How this money is transferred, and which parties are transferring the money and why, are the circ*mstances that dictate different types of fintech. One popular method is through mobile payments.

How can I withdraw money from Aditya Birla? ›

Contact Aditya Birla Sun Life Insurance customer service to inquire about the withdrawal process. They will guide you and provide the necessary forms. Complete the forms accurately, including policy details and personal information. Submit the filled forms and required documents to the nearest branch or online.

What is the target price of Aditya Birla Money in 2025? ›

With an initial target of ₹134.04. However, market volatility might lead to fluctuations mid-year, peaking at ₹179.47. For Aditya Birla Money Ltd in 2025. A bullish trend might take the stock to a mid-year target of ₹194.

What is the payout of Aditya Birla Money? ›

Current Dividend Yield: 4.61% Annual dividend payment: ₹6.

What is the downside of using FinTech? ›

Disadvantages of Fintech:

up. This means that there may be regulatory issues that fintech companies need to navigate, which can be time-consuming and costly. their systems are compromised, it could result in fraudulent activity.

How do you make money with FinTech? ›

Revenue Models in Fintech encompass a variety of strategies, including transaction fees, subscription services, and data monetization, allowing these innovative companies to profit from their technology-driven financial solutions and services.

What is a FinTech mobile app? ›

Fintech apps are applications that allow users to access, manage, and improve their finances through their mobile devices. Fintech apps can offer various benefits, such as convenience, security, efficiency, and personalization.

How do finance apps make money? ›

You make money when users buy the financial items your app promotes. For example, Mint offers services and products like credit cards, insurance, loans, and many more. Anytime customers take Mint's advice, the app receives a referral payment.

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