15-Apr-2024
2 mins read
Aditya Birla Capital Limited, one of the most popular non-banking company, is set to launch its direct-to-consumer fintech mobile app, ABCD. The full form of the ABCD app is Aditya Birla Capital Digital.
This app will be open to the public from April 16, 2024. ABCD App will provide various financial products on a single digital platform.
Currently, ABCD App is in a trial phase between closed groups. This app will amalgamate all the group financial offerings along with many other features of a fintech app.
The new features such as credit card payments, international UPI, financial goal analyser, generative AI powered chatbot, tax planners and health tracking will be included.
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Aditya Birla’s ABCD Prepares to Compete with Other Fin-tech Giant
ABCD follows what conglomerate backed Jio Financial Services and Tata Digital has attended. ABCD is bundled with the services of its financial subsidiaries including the NBFC arm Aditya Birla Finance.
Aditya Birla Finance had 762 branches and over 2 lakh channel partners nationwide. The holding firm boasts of Rs 4.1 lakh crore of assets under management with a consolidated lending book of around 1.5 lakh crore through its subsidiaries and joint ventures.
Aditya Birla Group Infused Equity Capital
Additionally, Aditya Birla Group infused equity capital amounting to Rs 850 crore in Aditya Birla Finance to support the growth and positive momentum.
Last year, the group launched a merchant payment and collection app. Payment lounge with Phicommercem clocking a monthly run rate of Rs 500 crore in GMV in the first six months.
Aditya Birla Capital's share price is trading near its 52 week high. Recently, AB Capital shares showed a technical breakout of Rs 200 with a high volume. In today's session AB capital share price closes at Rs 205.55 with an intraday rise of 1.48%.
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