Axis Bank – Digital Transformation Strategies

Pages: 21 Published: March 08, 2022 Report Code: GDFS0550CA

Axis Bank has been focusing on AI-led innovation as a part of its digital transformation strategies. The annual ICT spending of Axis Bank was estimated at $381 million in 2021. A major share of this spending is earmarked for acquiring Network and communications, ICT services, and software from vendors. Axis Bank is an India based private sector bank offering a wide array of financial services to different customer segments, including retail customers, SMEs, large and mid-size corporates, and farmers.

The Axis Bank digital transformation strategies report will act as a reference point to understand a company/competitor’s digital strategy. It will also help in understanding the digital preparedness of the company against its peers. Information included in these reports are sourced from a mix of our very own internal database and authentic secondary research links such as company’s annual report, presentations, press releases etc. The report covers overview of the company, its digital transformation strategies, technology focus areas, technology initiatives, technology introductions, investments, acquisitions, ICT spending among others.

Digital Transformation Strategies

Axis Bank has been leveraging technologies such as artificial intelligence and robotic process automation to digitally transform its operations. The bank has automated more than 300 business operations, including account opening, trade services, loan disbursals, fraud detection, card operations, and cheque clearing. The bank’s employees are now able to open new accounts through tablets with RPA and AI powered tools automatically completing the Know Your Customer process. The bank launched an AI powered voice assistant called AXAA in 2020 to automate customer interactions AI and RPA tools also facilitate seamless migration of real time data into core systems, which has improved operational efficiency and regulatory compliance.

To gain more insights on digital transformation strategies and initiatives of Axis Bank, download a free report sample

Axis Bank Technology Theme Focus

Axis Bank is utilizing number of emerging technologies including cloud, big data, and blockchain to enhance its operational and service capabilities.

Axis Bank Technology Theme Focus

Axis Bank Technology Theme Focus

To know about other technology themes under focus for the company, download a free report sample

Axis Bank Technology Initiatives

Axis Bank signed a multi-year cloud computing agreement with Amazon Web Services, the cloud computing division of Amazon. Under the terms of the agreement, Axis Bank will use a number of cloud services to develop digital financial services for customers.

For more insights on other technology initiatives of Axis Bank, download a free report sample

Axis Bank ICT Spend by Function

  • Communications
  • Data center
  • Network
  • Application
  • End-user computing
  • Service desk
  • Management

Axis Bank ICT Spend by Function

Axis Bank ICT Spend by Function

For more insights on ICT spending by function, download a free report sample

Axis Bank ICT Spend by Channel

  • Internal development and maintenance
  • Technology vendors (direct)
  • Local resellers
  • Telcos
  • ICT services providers/Consulting firms
  • Specialist outsourcers
  • Systems integrators

Axis Bank ICT Spend by Channel

Axis Bank ICT Spend by Channel

For more insights on ICT spending by channel, download a free report sample

Axis Bank External ICT Spend by Segment

  • ICT services
  • Software (including Cloud SaaS)
  • Hardware (including Cloud Iaas)
  • Network and communications
  • Consulting
  • Others

Axis Bank External ICT Spend by Segment

Axis Bank External ICT Spend by Segment

For more insights on external ICT spending by segment, download a free report sample

Axis Bank Digital Transformation Strategies Overview

Total ICT Spending 2021 $381 million
ICT Spend by Function Communications, Data Center, Network, Application, End-User Computing, Service Desk, and Management
ICT Spend by Channel Internal Development and Maintenance, Technology Vendors (Direct), Local Resellers, Telcos, ICT Services Providers/Consulting Firms, Specialist Outsourcers, and Systems integrators
External ICT Spend by Segment ICT services, Software (including Cloud SaaS), Hardware (including Cloud Iaas), Network and communications, Consulting, and Others
Technology Theme Focus Cloud, Big Data, and Blockchain

This report provides:

  • Insight into Axis Bank’s technology activities.
  • Insights of its digital transformation strategies and technology center & innovation program.
  • Overview of technology initiatives covering partnerships, investments, and acquisitions.
  • Insights on each technology initiative including technology theme, objective, and benefits.
  • Details of estimated ICT budgets and major ICT contracts.

Reasons to Buy

  • Gain insights into Axis Bank’s technology operations.
  • Gain insights into its technology strategies and innovation initiatives.
  • Gain insights into its technology themes under focus.
  • Gain insights into its various partnerships, investments, and acquisitions.

Key Players

Amazon Web Services
RBL Bank
South Indian Bank
Standard Chartered Bank
Manipal Global
IndusHealth Plus
Google Pay

Table of Contents

Table of Contents


Digital Transformation Strategy

Innovation Labs and Programs

Technology Focus

Technology Initiatives

Investments and Acquisitions

Partnership, Investment, and Acquisition Network Map

ICT Budget and Contracts

Key Executives

About GlobalData

Frequently Asked Questions

The annual ICT spending of Axis Bank was estimated at $381 million in 2021.

The key ICT spending categories by function for Axis Bank are communications, data center, network, application, end-user computing, service desk, and management.

The key ICT spending categories by channel for Axis Bank are internal development and maintenance, technology vendors (direct), local resellers, telcos, ICT services providers/consulting firms, specialist outsourcers, and systems integrators.

The key external ICT spending categories by segment for Axis Bank are ICT services, software (including cloud SaaS), hardware (including cloud IaaS), network and communications, consulting, and others.

The key technological theme in focus for Axis Bank are cloud, big data, and blockchain.


Can be used by individual purchaser only


Can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company

Get in touch to find out about our multi-purchase discounts
Tel +44 (0) 20 7947 2960

Every customer’s requirement is unique. We understand that and can customize the report basis your exact research requirements pertaining to market insights, innovation insights, strategy and planning, and competitive intelligence. You can also avail the option of purchasing stand-alone sections of the report or request for a country specific report.

Still undecided about purchasing this report?

Enquire Before Buying

Request a Free Sample


“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.

GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”

Business Intelligence & Marketing Manager, SAL Heavy Lift

“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”

Market Analyst & Management, Liebherr-Werk

Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.

Head of Key Accounts, Saab AB

Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.

Marketing Intelligence Manager, Portugal Foods
Financial Services
Bank Syariah Indonesia - Enterprise Tech Ecosystem Series
$1,495 | March 2023
Financial Services
Macquarie Bank - Digital Transformation Strategies
$1,495 | March 2023
Financial Services
ANZ - Digital Transformation Strategies
$1,495 | March 2023