As part of a multi-year contract, Axis Bank will draw on the breadth and depth of AWS services, including database, containers, and compute, to build a portfolio of new digital financial services to bring enhanced banking experiences to customers, including online accounts that can be created in under 6 minutes and instant digital payments, helping the bank improve customer satisfaction by 35% and reduce costs by 24%.
Axis Bank has deployed over 25 mission-critical applications on AWS as of date, including a Buy Now Pay Later product and a new loan management system to back it, Video-Know Your Customer (V-KYC), Account Aggregator, and WhatsApp Banking. Axis Bank also plans to migrate 70% of its on-field data center infrastructure in the next 2 years to further improve agility, reduce cost, and improve customer satisfaction.
Axis Bank has over 200 million customers who demand new and innovative digital banking services, including digital loans, digital credit cards and digital deposits to better manage their finances.
To meet these consumers’ needs and provide new financial services digitally, Axis Bank depends on the resiliency, scalability and agility of AWS to bring new services to market quickly while maintaining an easy, excellent customer experience.
Using Amazon Elastic Kubernetes Service (Amazon EKS), which gives customers the flexibility to start, scale and run Kubernetes applications on AWS or on-field, Axis Bank built new digital banking services using microservices that support any application architecture, irrespective of load, scale, or complexity.
Last year, Axis Bank made the decision to place all the latest customer-facing applications on AWS. Today, 15% of the bank’s applications are already on the cloud, and the bank plans to take this number to 70% in 3 years.
Axis Bank thinks building a cloud-native, design-centric engineering capability is important for its success. The bank has dedicated over 800 people to its digital projects, a design team of more than 130 people, built in-house engineering, and established a cloud engineering practice centered on smart software development and DevOps principles to achieve this.
Working with AWS Professional Services, a team of AWS professionals who help customers reach their desired outcomes with the cloud, Axis Bank has set up a cloud centre of eminence to enhance its cloud migration and set the digital foundation for creating new services, while meeting strict security, governance and regulatory compliance requirements.