Aditya Birla Capital Announces Launch Of Omnichannel ABCD D2C Platform To Significantly Scale Up Its Digital Transformation Journey

Aditya Birla Group’s flagship diversified financial services conglomerate, Aditya Birla Capital (“ABC”) has embarked on a journey of transformation, charting strong growth over the past 2 years. Building on this momentum, Aditya Birla Capital announced the launch of its omnichannel D2C platform ABCD making “Everything Finance as Simple as ABCD”. Through this platform, ABC targets to add 30 million new users over the next 3 years. The launch marks a pivotal moment in its ambitious journey to drive growth and leadership and become a full-stack financial services provider.

Announcing the launch of the platform, Mr. Kumar Mangalam Birla, Chairman Aditya Birla Group said, “Our financial services business, Aditya Birla Capital, is now one of the fastest growing businesses within the group and has emerged as a key growth engine.  I see this as a ‘coming of age’ moment for Aditya Birla Capital. In the arc of Aditya Birla Capital’s strong and steady progress, the ABCD D2C platform is a positive stride towards accelerated growth and taking leadership position in the financial services space. I am confident, that this platform will serve as a growth catalyst across the ABC and ABG ecosystem, and the interplay between financial services stack and the Group’s diverse businesses will foster a win-win synergy for superior product innovation and unique value creation for all stakeholders.”

Ms. Vishakha Mulye, CEO, Aditya Birla Capital Limited said, “At Aditya Birla Capital, we are guided by the 'One ABC One P&L,' approach, anchored on the principles of 'One Customer,' 'One Experience,' and 'One Team’. This has played a vital role in driving quality and profitable growth across our businesses and creating long-term value for all stakeholders. Our consistent commitment to digital reinvention and reimagining customer experiences is reflected in our omnichannel architecture which gives customers the complete flexibility to interact with us through their channels of choice. In line with this vision, we formed ABCD to build the omnichannel layer that will help us acquire customers digitally at scale and meet all their financial needs through a unified digital-first platform.”

Backed by scalable infrastructure, user-friendly and intuitive interface, and robust functionalities, the platform offers a simple and differentiated experience across all touch points including mobile app, website, branches, and virtual engagement channel. Guided by a Maximum Viable Product approach, the ABCD D2C platform offers a comprehensive portfolio of 22 products and services, including facilities of a payment platform - such as UPI, bill payment, and online recharges, with financial services like loans, insurance, and investments along with comprehensive personal finance tracking such as ‘My Track’ among others. The platform also features ABCD’s own stack of products such as Portfolio Consolidator, Spend Analyzer, Digital Health Assessment among others, and Payment solutions to address the diverse needs of customers through a single platform.

With features like multi-account payment, multi-mode receipt, and spend analysis tools, ABCD is set to redefine the digital financial experience. The platform has been built in a record time of 12 months, which is among the fastest in the Indian financial services sector. It is a culmination of 114,000+ development hours, 36,000+ design hours, 1,000+ APIs, and 5,000+ screens. The app is available on Android and iOS platforms. This platform is housed under Aditya Birla Capital Digital Limited (“ABCDL”), a wholly owned subsidiary of Aditya Birla Capital Limited (“ABCL”).

Over the last 2 years, Aditya Birla Capital has achieved significant milestones, signaling robust growth and profitability across businesses. The NBFC AUM has grown by about two times to over Rs 1 lakh crores, becoming the fourth largest diversified NBFC in the country. The housing finance loan portfolio has also witnessed an accelerated growth of 27% year-on-year, as of December 31, 2023. The health insurance business has grown at a CAGR of 43% over the past 2 years, becoming the fastest growing Standalone Health Insurance player in the market. The total premium of life insurance business stood at Rs 11,101 crores in the first 9 months of FY2024. The average AUM of the AMC business was Rs 3.11 lakh crores, in the third quarter of FY2024.

With this, ABCL delivered strong growth with consolidated revenue growing by 22% year-on-year to Rs 23,566 crores and consolidated PAT growing by 44% year-on-year to Rs 2,090 crores in the first 9 months of FY2024. In terms of physical presence, ABCL has 1,462 branches across the country, with over 500 branches added in the last 2 years. In line with its One ABC approach, about 762 co-located branches across 218 locations were also set up to service customers seamlessly under one roof.

About Aditya Birla Capital Limited

Aditya Birla Capital Limited (“ABCL”) is the holding company for the financial services businesses of the Aditya Birla Group. Through its subsidiaries/JVs, ABCL provides a comprehensive suite of financial solutions across Loans, Investments, Insurance and Payments to serve the diverse needs of customers across their lifecycle. Powered by about 47,000 employees, the businesses of ABCL have a nationwide reach with over 1,462 branches and more than 2,00,000 agents/channel partners along with several bank partners. As of December 31, 2023, Aditya Birla Capital Limited manages aggregate assets under management of over Rs. 4.10 Lakh Crore with a consolidated lending book of about Rs 1.15 Lakh Crore through its subsidiaries/JVs.

Aditya Birla Capital Limited is a part of the US$65 billion global conglomerate Aditya Birla Group, which is in the league of Fortune 500. Anchored by an extraordinary force of over 187,000 employees belonging to 100 nationalities, the Group is built on a strong foundation of stakeholder value creation. With over seven decades of responsible business practices, the Group’s businesses have grown into global powerhouses in a wide range of sectors - from metals to cement, fashion to financial services and textiles to trading. Today, over 50% of the Group’s revenues flow from overseas operations that span over 40 countries in North and South America, Africa, Asia, and Europe. For more information, visit www.adityabirlacapital.com