Axis Bank launches new feature to manage multiple accounts on one platform

Axis Bank has launched the ‘Single View’ feature on its mobile app that allows account management across multiple bank accounts, including non-pivot accounts.

The feature was launched using the open banking principle leveraging the account aggregator (AA) ecosystem — an industry first initiative, the private sector bank said.

AA or data aggregator platforms provide secure sharing of information while maintaining customer consent and data privacy.

Customers can link their non-Axis Bank accounts and get a comprehensive view of their account balances, transactions and account statements in real time, thus streamlining the process of managing finances and providing access to multiple bank accounts on a single platform.

The bank said this feature will eliminate the need for many mobile banking applications and also allow customers to download and email transaction details from their linked accounts.

This offer provides a seamless banking experience and provides convenience to customers by eliminating the need for multiple mobile banking applications. “We believe this represents transformation and a step forward into the future of banking,” said Sameer Shetty, President and Head of Digital Business and Transformation at Axis Bank.

He added that the AA framework is expanding rapidly and that Axis Bank was an early investor in the ecosystem. This helped build the technology stack to enable its AA framework and deliver a seamless and convenient experience for customers.

Axis Bank currently offers instant personal loans, credit cards, auto loans and small business loans through the AA ecosystem, completely digital and paperless to existing and new customers.