Axis Bank to partner with Amazon Web Services for digital transformation  

Axis Bank already uses 25 ‘mission-critical’ applications on the AWS platform, accounting for 15 percent of the applications already being hosted on cloud networks. The bank plans to migrate over 70 percent of its applications to cloud networks in the coming three years.

Subrat Mohanty, group executive, Axis Bank, said in a statement, “Axis Bank is designing new products, crafting digital journeys, and personalising its services to address the financial needs of its customers better. 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. We aim to transition 70 percent of our infrastructure and applications on the cloud.”

Axis Bank will be focusing on building a “cloud native, design-centric engineering capability” to give it an edge in one of the most competitive financial markets in the world. Along with its partnership with AWS, the bank has also dedicated 800 people to its digital projects and employed a 130-member in-house engineering and design team.

“Cloud is transforming the financial industry and we are delighted to help Axis Bank build and grow a suite of digital banking services that evolve with technology changes, introduce new payment modes, and support evolving consumer and business needs in India,” said Puneet Chandok, president, commercial business, AWS India and South Asia, AISPL.