The Ken had covered Kotak811 and Kotak Mahindra Bank in their story (paywalled) a few weeks ago.
Sharing summary points for reference:
- Having grown gradually in the first four years, Kotak811 has now started taking on giants like HDFC Bank and Paytm in terms of new savings accounts and loans disbursed
- A new office with a freshly infused startup culture, devoid of legacy issues, has made team Kotak811 aspirational for the employees of the private-sector lender
- As on March 2022, one of every three KMB customers was acquired by Kotak811. The digital arm contributes almost 65% to the annual increase in new customers
- A section of analysts term this as a succession plan for Jay Kotak, given his father’s term ends in December 2023
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