Study on IT Technologies/Digitization Priorities and Outlook of Axis Bank

Objective: This research aims to understand the key business priorities of Axis Bank and the role
of IT technology/digitization play in achieving these goals. Outlining the IT landscape and
mapping the key technology priorities for the next 3-5 years and how they align with the wider
business strategy of the company. Identify challenges and bottle necks in the IT/digitization journey
and scout for whitespaces/gaps. Finally explore openness towards new technology partners, key
evaluation and purchasing criteria.

Screener Questions
1. Are you aware of the top business priorities/goals of Axis Bank and its subsidiaries and
respective IT/ technology/digitization initiatives taken to achieve these goals?
YES……………………1 -> CONTINUE YES
NO…………………….2 -> CONTINUE

2. Do/did you have visibility on digital transformation strategies/direction of Axis Bank?

YES……………………1 -> CONTINUE YES
NO…………………….2 -> CONTINUE

3. Are/were you involved in developing technology/digitization roadmaps by assessing the

business requirements for the next 3-5 years?
YES……………………1 -> CONTINUE YES
NO…………………….2 -> CONTINUE

SHORTLIST …… IF RESPONDENT SELECT ‘YES’ for Q1 to Q3

Discussion Guide (Detailed Questions after Qualification of Respondents)

Q.4 What is the strategic direction/objectives for your BU/company for the next 3-5 years?

…………………

Q.5 What role does Tech/IT/Digitization play in achieving these strategic objectives? Can you state
few examples?

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Q.6 What are the top Tech/IT priorities for the next 3-5 years?

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Q.7 How do you want to achieve these priorities?

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Q.8 What are the top 3/5 initiatives taken to achieve these priorities?

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Q.9 What are the key challenges/bottlenecks in this journey?

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Q.10 What is your plan to address these challenges? What role do technology partners play?

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Q.11 In terms of IT/technology investment, which are the top-3/5 business areas with highest
investment/highest technology focus?

…………………

Q.12 What is the breakdown of your ICT spend in internal as well as external spend category? Which
function contributes to the highest spend?

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Q.13 How is technology enabling Risk Management, Customer Life-time Value, and Innovation?

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Risk Management:

Q.14 What is the risk management ideology? What is the vision for Risk-360 in the next 3-5 years?
How are you approaching treasury risk management?

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Q.15 What are the top-3 technology initiatives taken for risk management?

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Q.16 What are the key technology challenges faced with Risk-360?

…………………

Consumerization of Financial Services:

Q.17 How technology is enabling pre-approved/recommended financial products to customers? What

are the top-3 initiatives in this space?

…………………

Q.18 What according to you is the relevance pre-approved/recommended financial products? What is
the offer relevancy rate? What is the avg. success rate in mapping relevant financial product to
customer?

…………………

Q.19 How is technology helping in creating custom offers for prospects VS existing customers? Any
challenges faced?

…………………

Priorities of digital transformation

Q.20 What are your priorities of digital transformation in 2023? Have your banking needs or priorities
changed over the last 2-3 years?

…………………

Q.21 What are your thoughts on cloud-first architecture given that the bank is automating a lot of
processes?
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Q.22 Is the bank planning to partner or evaluate tools from companies that are offering multiple
clouds?

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Q.23 - What is the cloud strategy followed by each entity? What are the challenges?

…………………

Q.24 Is the digitalization of corporate banking journey driven by partners or through an internal team?
How do you capture the value realized by the transformation initiatives?

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Q.25 How do you determine that which digital engagement platform is right for the bank? What are
the key criteria against which they are accessed?

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Q.26 What are the KPIs through which you measure your digital transformation journey?

…………………

Q.27 What’s next for Axis Bank and the subsidiaries as now it is a mobile application or a website
instead of branches? Banks are also partnering with FinTech companies so do you have any
integration plans?

…………………

Q.28 What’s your take on advanced AI technologies such as Generative AI – ChatGPT? Is the bank
planning to adopt/implement such technologies in the next 2-3 years? If yes, then in what domains
(e.g. customer support, operations, data privacy)?

…………………

Citibank’s integration:

Q.29 What are the major challenges that you are facing with the Citibank’s technology integration with
Axis Bank? Do you witness any challenges with the Citibank’s technology integration? Can you recall
a few of them?

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Q.30 What is your plan of action to address these challenges?

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Q.31 How Citibank integration will further enhance Axis Bank’s tech capabilities?

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Thank you!