Digital Current Accounts Adopted by Axis Bank Following OPEN Partnership

axis bankIndia’s 3rd largest private bank partners with digital banking firm to Open, offering customers a fully native digital checking journey. This includes small businesses, freelancers, home entrepreneurs, influencers, and more.

This partnership will make Axis Bank accessible to the larger business community. Holistic banking experience Combined with OPEN end-to-end financial automation tools for business management including payments, accounting, payroll, compliance, expense management, and several other services.

This is the first time Axis Bank has partnered with a fintech company to open a fully digital checking account. Following the announcement, the product is now live on OPEN’s open.money website.

This digital checking account product helps customers save a lot of time and effort. This is the result of the authentication process being fully digital using PAN and Aadhaar followed by video KYC.

Access to digital banking services

The comfort of a contactless account opening process that removes the hassle of paperwork with zero document upload capability makes this checking account product very different from others on the market.

With this account, customers can access over 250 banking services and claim up to 50% cashback through Grab transactions.

The partnership also gives all existing Axis bank account holders access to OPEN’s all-in-one digital banking platform, which is currently used by over 30 million businesses.

Samir Shetty President and Head of Axis Bank, responsible for digital business and transformation. he said: We have continuously worked on an innovation-driven partnership model to provide our clients with digital banking solutions. In this effort, we are pleased to partner with OPEN to provide a one-stop banking solution for businesses.

Regarding this partnership, OPEN’S co-founder and CEO said, Anish AchuthanSaid:

We are really excited to partner with Axis Bank to be the first fintech to launch a fully native digital checking journey for their customers. We are opening up to new niche segments such as.We look forward to partnering with Axis Bank to create products tailored to them.For these users we are looking forward to adding value such as term loans, revenue-based lending, etc. We will continue to work on integrating our services.