“Axis Bank is designing new products, crafting digital journeys, and personalising its services to address the financial needs of its customers better,” Axis Bank group executive Subrat Mohanty said. “We continue to anticipate future trends and make investments ahead of time within our technology stack. We believe AWS will enhance our agility and resilience to manage two key features that define our digital business – rapid scale and high velocity.” See also: Top cloud providers in 2021: AWS, Microsoft Azure, and Google Cloud, hybrid, SaaS players Axis Bank will be leveraging the cloud giant’s services to deliver online accounts that can be opened in under six minutes, and enable instant digital payments, it said. To date, Axis has deployed over 25 mission-critical applications on AWS, including a buy-now, pay-later product and a new loan management system to support it, an account aggregator, a video-know your customer (V-KYC) service, and WhatsApp banking. The bank also has plans to migrate 70% of its on-premises data centre infrastructure over the next two years. Last year, Axis Bank made the decision to deploy all new customer-facing applications on AWS; today, 15% of the bank’s applications are on the cloud, with the bank aiming to take this number to 70% in three years. The bank said it has dedicated over 800 people to its digital projects, built an in-house engineering and design team of more than 130 people, and established a cloud engineering practice centred on agile software development and DevOps principles. Working with AWS Professional Services, Axis has also set up a cloud centre of excellence.
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