Archive · 10 Sep 2026
Personalised banking expected to become mainstream within one year
Amitabh Chaudhry says banks may soon design services for each customer instead of offering the same products to everyone.
He expects this change to become common within about one year.
Technology and artificial intelligence will help banks decide what to offer and when.
Chaudhry does not expect artificial intelligence to automatically cause a large loss of banking jobs.
However, banking employees will need to learn new skills.
Bank branches may change, but many customers still want places they can visit.
Chaudhry also warned banks not to lend recklessly after receiving large foreign-currency deposits.
He said India may need larger banks, possibly through mergers.
Axis Bank CEO Amitabh Chaudhry said personalised banking could become mainstream within four quarters.
Banks are expected to use technology to tailor products and offers to individual customers.
Chaudhry said artificial intelligence will require employees to reskill but may not sharply reduce banking jobs.
Digital banking is changing branches, though customers still want physical locations and Axis Bank is testing smaller formats.
He cautioned that strong FCNR(B) inflows could encourage abnormal lending and supported consolidation to create larger banks.
- Who
- Amitabh Chaudhry, Axis Bank’s managing director and chief executive officer, speaking about the banking sector.
- What
- He discussed personalised banking, artificial intelligence, bank branches, FCNR(B) inflows, interest rates and possible banking consolidation.
- When
- The comments were made on Wednesday; personalised banking could become mainstream over the next four quarters.
- Where
- At the Global Fintech Fest; the banking implications discussed concern India.
- Why
- Technology is enabling banks to tailor services, while large foreign-currency inflows and the need to compete at scale are creating new banking challenges.
- Speaker
- Amitabh Chaudhry, MD and CEO of Axis Bank
- Personalised banking timeline
- Expected by Chaudhry to become mainstream within the next four quarters
- FCNR(B) deposits
- Banks mobilised $127 billion by August 31, according to the latest RBI data
- Total foreign-currency inflows
- Including external commercial borrowings and overseas foreign-currency borrowings, inflows reached $136 billion
- Banking-system liquidity
- About Rs 10.5 lakh crore as of September 8, according to RBI data
- FCNR(B) scheme
- The scheme closed on August 31, while banks could access the RBI’s dollar swap facility until September 11
- Consolidation
- Chaudhry said India needs larger banks and that Axis Bank has an appetite for consolidation