Strong digital capabilities laying foundation for the leap ahead
We attended the Analyst Day of Aditya Birla Capital – Finance Simplified – and returned pleasantly surprised with the kind of digital capabilities that ABCL’s respective businesses and Aditya Birla Capital Digital (ABCD) has built over a course of time. Unlike other Analyst Meets, ABCL’s meet shifted its focus from outcomes to means (or capabilities). This approach aims to fortify ABCL’s businesses with a strong foundation for sustained execution.
Among non-banks, ABCL is rapidly emerging as one of the most adept in terms of capabilities across sourcing (prospecting), underwriting (onboarding), and collections (renewals) within in its lending (protection) businesses. It has clearly made healthy progress toward its vision of “One ABC, One Customer, One Experience,” positioning itself to take rapid strides toward driving higher cross-sell across its business.
As strategic priorities, it will continue to work on the simplification of the financial needs of the customers, drive the data/analytics centric organizational culture, scale up its digital platforms – both B2B and D2C and further build out its omni-channelbased distribution.
Key takeaways from the meet
ABCL has made great progress on its omni-channel architecture, leveraging its strong network of physical branches alongside agile and interoperable digital platforms, such as Udyog Plus (B2B platform for MSMEs), ABCD-D2C platform, and an evolving B2D platform for channel partners.
The company is using data and analytics as its building blocks, harnessing the power of Google Cloud (GCP). With over 100 analytical models currently in use, it plans to scale up this number to over 400 by FY25. Furthermore, there is a comprehensive initiative underway for the organization-wide adoption of automated dashboard tools, aimed at reimagining the customer experience across all its individual business units.
D2C App (ABCD) is a full-fledged app (rather than an app-in-app) and will be launched in Mar’24. It has many industry firsts and has been meticulously built and enriched with customer insights to offer products across lending, investments, insurance, and payments. My Track will provide value-added services such as Credit Score, Financial Portfolio, Spend Analyzer and more. This can empower the workforce of ABCL as multi-product specialists.
Payments offering (including UPI and bill payments) will make ABCL a ‘full stack’ financial services provider. It has already applied to the regulator for a PPI license and expects to start merchant acqusitions (Pay by UPI QR or handle) and wallet services in FY25.
ABCL is now much better equipped today with strong support from each of its horizontals such as Technology, Analytics and the D2C App. These divisions have developed capabilities (much of it in-house) to ensure sustained execution across the company’s diverse portfolio of lending, protection and investment businesses