Aditya Birla Capital, the financial services arm of the Aditya Birla Group, is set to intensify its digital distribution efforts by leveraging its subsidiary, Aditya Birla Capital Digital Ltd (ABCDL). The move aims to reinforce the company’s presence in the digital space and enhance its omnichannel capabilities.
ABCDL, established in March last year, focuses on developing an omnichannel direct-to-customer (D2C) platform. This platform aims not only to cater to existing customers but also to attract new ones, serving as a comprehensive hub for Protecting, Investing, Financing, and Advisory services (PIFA).
Recently infused with INR 50 Cr from its parent company, ABCDL is gearing up to launch a dedicated app designed to directly source customers for its financial services offerings. Pankaj Gadgil, Group Head-Digital Platforms at Aditya Birla Capital Ltd, highlighted the strategy to create an omnichannel platform that facilitates digital acquisition at scale and cross-selling across different business lines.
As part of its expansion, ABCDL has integrated payments into its services to address customer transaction needs. The subsidiary is set to introduce its own third-party payments application provider (TPAP) payments handle, including integration with the Bharat Bill Payment System.
The payments app, which will be launched in collaboration with a large private sector bank and a medium private sector bank, is designed to enhance the overall customer experience within the app. While the banking partners for the TPAP business were not disclosed, the move reflects Aditya Birla Capital’s commitment to expanding its digital footprint and providing a seamless financial services experience.
Aditya Birla Capital, a leading player in insurance, investment, and financing services, continues to evolve its digital capabilities through strategic initiatives such as the launch of omnichannel collections platform Payment Lounge in collaboration with PhiCommerce.
