Financial Transactions in the Banking Industry- Various Digital Initiatives at Axis Bank

Abstract

Banking in India is transforming itself towards digital way of doing it. Electronic banking has spread its roots with invent of computers and ATMs back in 1970’s. Banks are using these electronic ways to offer a vast range of its products and services. These developments in the banking sphere has led the creation of new business models for banks and non-banking financial corporations like internet service providers and other firms operating in technological area. This paper focuses on the digital transformation of AXIS bank with respect to various characteristics of their digital banking products and services, as compared to its competitor and the growth and awareness of the customers of AXIS bank in relation to its digital products. The data is collected through a questionnaire for this purpose and analysed through using various statistical tools.