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Aditya Birla Group Stretched Its Arm In The Fintech Arena: ABCD App Launched

Aditya Birla Group Stretched Its Arm In The Fintech Arena: ABCD App Launched

By: Geetanjali

On Tuesday, April 16, 2024, with an estimated budget of Rs.100 Cr Aditya Birla Capital Limited launched its ABCD fintech app for its D2C platform, under Aditya Birla Capital Digital Limited (ABCDL).

ABCDL which has launched ABCD mobile application is a subsidiary firm under Aditya Birla Capital Limited.

Having a customer base of 35 million existing customers the company is looking forward to increasing its customer base with 30 million new customers in the next 3 years with the newly launched app.

During the ABCD app launch event in Mumbai on Tuesday, Chairman Kumar Mangalam Birla said, “Making finance as simple as ABCD, we have prioritised on user experience and and tried making the process as seamless as possible. ABCD is built by team of banks, fintech and other financial institutions, and it took a period of only 12 months to create the app,”.

Adding Birla said,“The growth across our businesses has been aided by the expansion in the branch network. Aditya Birla Capital has added over 500 branches in the last two years, taking our pan-India physical presence to about 1,500 branches while serving 35 million customers,”.

The company is also looking to step into the digital payments ecosystem in the future with its app, which includes services like: UPI (Unified Payments Interface), bill payments, recharges and other digital financial services.

Adding to his speech company Chairman said, that the ABC (Aditya Birla Capital) is Aditya Birla Group’s fastest growing subsidiary “The platform will further help Aditya Birla Capital augment its digital footprint,”. Having its foothold in various sectors like cement, textile, metals, etc.

FAQs (Frequently Asked Questions)

1) Who is the CEO of Aditya Birla Capital Limited?

Ans: Vishakha Mulye is the current CEO of ABCDL, she has formerly served as the Group CFO of ICICI Bank.

2) Who is the Chairman/owner of Aditya Birla Group?

Ans: Kumar Mangalam Birla is the Chairman of Aditya Birla Group.

3) What is the current share price of Aditya Birla Capital Limited?

Ans: As per the last closing on Tuesday April 16, 2024, ABCDL share price ranges between Rs.203.60- Rs.203.85 / share.

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