How intelligent automation is powering transformation at Axis Bank

Axis Bank is a year and half into a multi-year technology transformation programme driven in large part by intelligent automation. The bank, India's third largest in the private sector by total assets, has adopted agile methodology with multiple cross-functional squads working on over 220 high-priority, organization-wide transformation projects. As of March 2021, more than 100 projects were fully completed, and they have delivered promising outcomes in the form of reduced turnaround times, improved productivity, and better customer experience. For example, the corporate banking business has been able to cut the loan approval time to around a quarter of what it used to be, even as the productivity of relationship managers has more than doubled. The bank invested in modernizing the core systems, scaling up the cloud portfolio for supporting the real-time business models, and building resilience across its operations.