Digital banking adoption grows steadily with no major changes

Digital banking users are expected to reach 3.6 billion globally this year.

While digital banking adoption is on a steady rise, no major changes have been observed in recent trends, according to Kalidas Ghose, Chairman of UNO Digital Bank. The bank continues to experience a rapid increase in both customer numbers and transaction volumes, but the overall trajectory remains consistent.

Ghose said that digital banks are nearing 2 million customers within less than two years of operation, reflecting a positive trend.

Despite the stable pace of adoption, UNO Digital Bank is actively leveraging artificial intelligence (AI) and machine learning to expand access to credit for underserved populations.

“AI happens to be a core pillar of our business strategy, and we see AI in every part of our business model,” Ghose explained. “We are able to capture data and analyse them through AI to give them access to credit, which is so vital for their life.”

“We are able to offer better products and services, and at the same time, we use AI for efficiency and scale,” Ghose added. AI also plays a critical role in fraud detection, risk management, and customer scoring, further supporting the bank’s operations.

As digital banking adoption grows, Ghose stressed the importance of data security and transparency. To ensure this, UNO Digital Bank has implemented consents at every stage of data collection, processing, and storage. The bank also employs robust security measures such as encryption, multi-factor authentication, and biometrics to safeguard customer data.

“We see customer adoption to be quite strong by itself,” Ghose noted. “We use our customer user experience and design it in a way that is helpful for the customers to understand easily.”