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Axis Bank Joins Hands With Fintech Firm OPEN To Launch Digital Current Account For Businesses
After this collaboration, the current account holders will be able to avail of OPEN’s financial automation tools for business management along with the banking service of Axis bank
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Axis bank on Thursday said that they joined hands with the digital banking fintech company OPEN to launch a digital current account for its customers like freelancers, homepreneurs, small micro enterprises etc.
The bank has 4,760 domestic branches across the country and it provides services to agriculture, SMEs and retail businesses
After this collaboration, the current account holders will be able to avail of OPEN’s financial automation tools for business management along with the banking service of Axis bank.
According to the media reports, Anish Achuthan, co-founder and chief executive officer, of OPEN said that business banking is opening up to newer and niche segments like homepreneurs, influencers etc. He assured the customers to integrate value-added services like loans, revenue-based financing
The company stated that the authentication process of the digital current account will be completely online using PAN (permanent account number) and Aadhaar followed by a Video KYC (know your customer).
Open Financial Technologies was founded in 2017 and operates SME neo-banking platform Open Money, embedded finance platform, Zwitch and enterprise digital banking platform for banks, BankingStack.
Currently, Over 30 lakh businesses use this digital banking platform. OPEN is the 100th Unicorn from India, which is backed by leading global investors like IIFL Finance, Temasek and Google