Aditya Birla Capital set to launch comprehensive fintech super app
Aditya Birla Capital Ltd., a leading non-banking financial company (NBFC) in India, is preparing to launch an all-encompassing fintech super app named 'ABCD.' The app, currently being tested within a select user group, is scheduled for public release on April 16. This initiative will be managed by Aditya Birla Capital's newly formed digital division called Aditya Birla Capital Digital (ABCD).
ABCD app: A response to evolving fintech landscape
The emergence of ABCD app reflects a shift in the fintech landscape, where fintech start-ups are seeking NBFC licenses for credibility and regulatory benefits. Concurrently, NBFCs are enhancing their technological capabilities to directly engage with customers. ABCD super app is Aditya Birla Capital's strategic response to these industry changes. It will consolidate all of the company's financial services, including payments and insurance, into one digital platform. UPI payment systems, AI-driven chatbots, tax planners, and more will also be available.
Analysts laud ABCD's comprehensive approach to fintech
Motilal Oswal analysts have described ABCD as "a full-fledged app" with many industry firsts. They noted that the app has been meticulously built with customer insights to offer products across lending, investments, insurance, and payments. The analysts also highlighted that this could enable Aditya Birla Capital Ltd.'s workforce to become multi-product specialists.
