Axis Bank Ltd.

Axis Bank, India’s third largest private sector bank has launched 'Thought Factory', an innovation lab facility aimed at accelerating the development of innovative technology solutions for the banking sector. The innovation hub located in Bengaluru, has an in-house innovation team and an accelerator programme. The Innovation Lab will work closely with the startup community that is redefining banking in the digital era. With this launch, Axis Bank becomes the first Indian bank to introduce a dedicated innovation lab in the country.

The Bank is experimenting with emerging technologies such as blockchain, artificial intelligence, mobility, and cloud to bring about disruptions across functions including Credits, Deposits, Wealth Management, Mobile Payments, and Security etc. With the Accelerator, a dedicated 3 month programme, Axis Bank will engage with the start-up community to fast-track the innovation journey.

Further, the bank will shortly launch an application for the first cohort of the ‘Axis Accelerator’. The Bank will also be reaching out to startup hubs across India through roadshows for curating the best fit startups for the programme. The short-listed startups will be taken through a structured mentorship programme for fine-tuning, validating and scaling their business.

Axis bank offers wide range of services such as Personal Banking, Corporate Banking, NRI Banking, Priority Banking, VBV - Online purchases using Credit Card and VBV / MSC - Online purchases using Debit Card. The bank has strengths in both retail and corporate banking and is committed to adopting the best industry practices internationally in order to achieve excellence.