Most depositors have multiple bank accounts and it’s difficult for them to track the balances and spend from these accounts. To simplify managing finances for customers, Axis Bank has launched a one-view feature on its mobile app. It provides access to multiple bank accounts on a single platform. The bank has introduced this banking feature by leveraging the account aggregator ecosystem.
“This proposition offers a seamless banking experience and provides convenience to customers by eliminating the need for multiple mobile banking applications. We believe this is transformational and a step further towards the future of banking,” says Sameer Shetty, President & Head – Digital Business & Transformation, Axis Bank.
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How it works
Existing customers of Axis Bank have access to one-view on their mobile application. Log in to your Axis Bank mobile application. You need to choose one-view feature on the mobile application. Then mobile OTP verification is required. The OTP is sent by Finvu, an RBI-regulated account aggregator.
Then choose the bank accounts you want to link. Verify the accounts via OTP and tracking your bank accounts using one-view feature is active.
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Benefits for the customers
The customers get a comprehensive view of transactions across all the bank accounts in one place. It allows customers to download and email transaction details from their linked accounts. You can de-link any single or all non-Axis Bank accounts at your convenience.
Is the linked bank account safe?
Account Aggregator provides a secure way of sharing information, which has customer consent and data privacy as its core design principles. It is data-blind and cannot see the actual data. Data is visible to the user only after logging into the secure channel of Axis Bank, i.e., Axis mobile banking application.
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