Aditya Birla Capital stocks surge 4% amid launch of ABCD platform. KM Birla hints on expanion in jewellery business
Aditya Birla Capital (ABC), the Aditya Birla Group’s prominent financial services arm launched its fintech platform app ‘ABCD’ on April 16, the company announced in an exchange filing.
The app is expected to serve as an omnichannel direct-to-consumer (D2C) platform aiming to simplify access to financial services for all.
Additionally, the group is planning launch of jewellery business shortly with an initial investment of 5000 crore, said KM Birla, during the launch of Aditya Birla Capital Digital (ABCD) fintech app.
Kumar Mangalam Birla, Chairman of the Aditya Birla Group, expressed his optimism about the platform’s potential. “Aditya Birla Capital has emerged as a key growth engine for the group,” he said. “The ABCD D2C platform signifies a coming-of-age moment and a positive stride towards accelerated growth and leadership in the financial services space.”
The ABCD app was developed in 12 months, the platform, according to the exchange filing.
Vishakha Mulye, CEO of Aditya Birla Capital Limited, highlighted the company’s commitment to digital transformation and customer experience. “Our ‘One ABC One P&L’ approach, centered on ‘One Customer,’ ‘One Experience,’ and ‘One Team,’ has been instrumental in driving growth,” she stated. “The ABCD platform strengthens our omnichannel strategy, allowing customers to interact with us seamlessly through their preferred channels.”
Following a “Maximum Viable Product” (MVP) approach, ABCD will offer a diverse suite of 22 financial products and services. This will include – payment platform with UPI, bill payments, and online recharges, alongside loans, insurance, and investment options, the company added.
Additionally, the platform offers personal finance management tools like “My Track” and ABCD’s own suite of products for portfolio consolidation, spend analysis, and digital health assessments.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it’s all here, just a click away! Login Now!
Download Finplay News App to get Daily Market Updates & Live Business News.
More
Less
Published: 16 Apr 2024, 12:34 PM IST
Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.