Aditya Birla Capital has seen strong growth in the past 2 years and recently launched the omnichannel D2C platform ABCD to simplify finance. Their goal is to attract 30 million new users in the next 3 years, marking a significant step in their journey to become a comprehensive financial services provider.
Announcing the launch of the platform, Kumar Mangalam Birla, Chairman Aditya Birla Group said, “Our financial services business, Aditya Birla Capital, is now one of the fastest growing businesses within the group and has emerged as a key growth engine. I see this as a ‘coming of age’ moment for Aditya Birla Capital. In the arc of Aditya Birla Capital’s strong and steady progress, the ABCD D2C platform is a positive stride towards accelerated growth and taking leadership position in the financial services space. I am confident, that this platform will serve as a growth catalyst across the ABC and ABG ecosystem, and the interplay between financial services stack and the Group’s diverse businesses will foster a win-win synergy for superior product innovation and unique value creation for all stakeholders.”
Vishakha Mulye, CEO, Aditya Birla Capital Limited said, “At Aditya Birla Capital, we are guided by the ‘One ABC One P&L,’ approach, anchored on the principles of ‘One Customer,’ ‘One Experience,’ and ‘One Team’. This has played a vital role in driving quality and profitable growth across our businesses and creating long-term value for all stakeholders. Our consistent commitment to digital reinvention and reimagining customer experiences is reflected in our omnichannel architecture which gives customers the complete flexibility to interact with us through their channels of choice. In line with this vision, we formed ABCD to build the omnichannel layer that will help us acquire customers digitally at scale and meet all their financial needs through a unified digital-first platform.”
The platform offers a simple and differentiated experience across various touch points like mobile app, website, branches, and virtual engagement. It includes 22 products and services such as payment facilities (UPI, bill payment, online recharges), financial services (loans, insurance, investments), and personal finance tracking (‘My Track’). Additionally, it features ABCD’s own products like Portfolio Consolidator, Spend Analyzer, Digital Health Assessment, and Payment solutions to cater to diverse customer needs on a single platform.
ABCD offers multi-account payment, receipt options, and spend analysis tools, redefining the digital financial experience. Completed in a record 12 months with 114,000+ development hours, 36,000+ design hours, and 1,000+ APIs, the app is available on Android and iOS via Aditya Birla Capital Digital Limited (“ABCDL”), a subsidiary of Aditya Birla Capital Limited.
Aditya Birla Capital achieved significant milestones in the last 2 years, with notable growth. The NBFC AUM doubled to over Rs 1 lakh crores, ranking as the fourth largest diversified NBFC. Housing finance loans grew by 27% as of December 31, 2023. Health insurance business surged with a 43% CAGR, making it the fastest-growing player. Life insurance premiums were Rs 11,101 crores in the first 9 months of FY2024. AMC business had an average AUM of Rs 3.11 lakh crores in the third quarter of FY2024.
ABCL showed strong growth, with revenue up 22% YoY to Rs 23,566 crores and PAT up 44% YoY to Rs 2,090 crores in FY2024’s first 9 months. It operates 1,462 branches nationwide, adding 500 in 2 years. Additionally, 762 co-located branches across 218 locations follow the One ABC approach.
