Tanla Platforms gains after subsidiary deploys banking solution for Axis Bank

Tanla Platforms rose 2.39% to Rs 840 after the company said its subsidiary Karix Mobile has deployed a conversational banking solution, WhatsApp Business, for Axis Bank.

Karix Mobile is India's largest CPaaS (Communications Platform as a Service) provider.

Using the solution, Axis Bank customers can now start a WhatsApp chat with the bank to conduct frequent banking activities on-the-go. A gamut of financial services - both transactional and informational - such as checking account balance, checking of credit card bill amount, knowing nearest branch or ATM location and the like can be availed by customers through this solution.

All communication on the WhatsApp account is encrypted end-to-end and all sensitive information is safe and secure. The solution adds to the convenience in banking and brings ease of use to customers leading to higher customer satisfaction scores and net promoter score for the bank.

With more than two billion messages sent across every day on WhatsApp across 180 countries and 60 languages, banks and financial institutions with a large customer base could thrive offering richer communication experiences. Visually rich interactions such as PDFs and Google Map locations can be sent through WhatsApp eliminating the text fatigue that users usually face when communication is sent through other media.

Deepak Goyal, chief business officer, Tanla Platforms, said: At Karix, we are committed to develop solutions that help our partners deliver an amazing customer experience. From digitising the account opening process to serving the customer throughout the lifecycle with omnichannel communication, our obsession with improving customer experience has led to some path breaking innovations in the cloud communications space for the banking industry.

As one of the world's largest CPaaS players, Tanla processes more than 800 billion interactions annually and about 62% of India's A2P SMS traffic is processed through its distributed ledger platform - Trubloq, making it the world's largest Blockchain use case.

The company reported a consolidated net profit of Rs 102.54 crore in Q4 FY21 compared with net loss of Rs 89.13 crore in Q4 FY20. Net sales surged 24.2% YoY to Rs 648.56 crore in Q4 FY21.

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