Axis Bank Launches Augmented Reality Banking Mobile App

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Augmented Reality

Earlier this July, the Augmented Reality (AR) game Pokémon Go, took the world by storm with its unusual graphics and mass appeal. Successfully combining nostalgia of a bygone era with cutting edge technology, Pokémon Go soon became a global phenomenon. With millions of downloads on both iOs and Android platforms, Pokémon Go has created history.

Riding on the coattails of Pokémon Go’s instant success, Axis Bank aims to introduce the use of Augmented Reality feature in its mobile banking application. Borrowing Pokémon Go’s location based feature, consumers will now be able to look for dining offers, cash backs, ATM locations and even apartments which are preapproved for home loans. This will ensure that consumers are a reward for their continued loyalty to Axis Bank. Since mobile banking has gained serious momentum in the recent years, introducing new features to its mobile application will be beneficial for Axis Bank.

Like Pokémon Go, the Axis Bank app offers a camera view, bird view and a map view that allows consumers to scan their surroundings for available offers.  With the search feature located at the pre login stage, the app is extremely user friendly. Due to the introduction of the Unified Payments Interface (UPI) mobile banking applications become interoperable. This means that one mobile app can access multiple accounts and there is no need for repeated registration.

Chief Information Officer of Axis Bank, Amit Sethi elaborates, “This is not exactly gamification, but this is the first step. It can be taken to the next level by providing points. Gamification refers to the applications of the typical elements of a game — competing and scoring points — to everyday banking activity.”

As the first mobile banking app to use Augmented Reality in India, Axis Bank has capitalized on the open source nature of AR. While the app is not the first game to introduce GPS based search features, it is the first to adopt the concept of Augmented Reality in such a playful manner. Consumers can simply use the apps camera to scan their surroundings to check for available offers. This is useful for consumers on the go as the app is updated at regular intervals.

Currently, the application is available to account holders as most of the offers are applicable to existing customers only. However, Axis Bank aims to incorporate the app into Pingpay as well. This will allow non account holders to gain access to the app and avail of the offers and discounts.

With mobile applications making websites redundant, it is important for businesses to always be on top of their game. Applications must be constantly updated so that consumers can continue their banking activities without facing any problems. At the same time, care should be taken that safety and security of consumer information are not compromised. Now that Axis Bank has created an app using AR, we can expect more and more banks to use this feature for their respective applications.

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