Aditya Birla Group's non-banking financial company (NBFC) Aditya Birla Capital announced the launch of its omnichannel D2C (direct-to-consumer) platform ABCD today.
Through this platform, ABC aims to add 30 million new users over the next three years. The launch marks a pivotal moment as one of India's oldest conglomerates looks to become a full-stack financial services provider.
"Our financial services business, Aditya Birla Capital, is now one of the fastest growing businesses within the group and has emerged as a key growth engine. I see this as a 'coming of age' moment for Aditya Birla Capital. In the arc of Aditya Birla Capital's strong and steady progress, the ABCD D2C platform is a positive stride towards accelerated growth and taking leadership position in the financial services space," says Kumar Mangalam Birla, chairman, Aditya Birla Group.
"I am confident, that this platform will serve as a growth catalyst across the ABC and ABG ecosystem, and the interplay between financial services stack and the Group’s diverse businesses will foster a win-win synergy for superior product innovation and unique value creation for all stakeholders," says Birla.
The platform offers a simple and differentiated experience across all touch points including mobile app, website, branches, and virtual engagement channel, the company says in a statement.
The ABCD D2C platform offers a comprehensive 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 personal finance tracking such as 'My Track' among others.
The D2C platform app, which has been built in a record time of 12 months, is available on Android and iOS.
"Our consistent commitment to digital reinvention and reimagining customer experiences is reflected in our omnichannel architecture which gives customers the complete flexibility to interact with us through their channels of choice. In line with this vision, we formed ABCD to build the omnichannel layer that will help us acquire customers digitally at scale and meet all their financial needs through a unified digital-first platform,” says Vishakha Mulye, CEO, Aditya Birla Capital.
Over the last 2 years, the non-banking financial company’s (NBFC) AUM has grown by about two times to over ₹1 lakh crore, becoming the fourth largest diversified NBFC in the country.
The housing finance loan portfolio has also witnessed an accelerated growth of 27% year-on-year, as of December 31, 2023. The health insurance business has grown at a CAGR of 43% over the past 2 years. The average AUM of the AMC business was ₹3.11 lakh crore in the third quarter of FY2024.
Aditya Birla Capital has 1,462 branches across the country, with over 500 branches added in the last two years
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