Axis Bank launches ‘NEO for Business’. What is it? Features, and other details here

Axis Bank announces the launch of ‘NEO for Business’, a distinctive Transaction Banking platform specially curated for Indian Micro, Small, and Medium Enterprises (MSMEs). This is a first-of-its-kind comprehensive digital proposition that caters to the real, current, and emerging Transaction Banking needs of MSMEs.

Neeraj Gambhir - Group Executive and head - Treasury, Markets, and Wholesale Banking Products, at Axis Bank, said, “The MSME Business Banking landscape is evolving rapidly, and there is a need for a comprehensive solution for all their Banking and Beyond Banking requirements. Our approach was to build a proposition that offers and solves their needs across a range of products and services on a single platform. ‘NEO by Axis Bank’ was launched as a platform for our corporate banking customers offering a complete suite of digital banking products and services. Within this platform, our newly launched ‘NEO for Business’ is a one-stop solution for the business requirements of MSMEs,” he further added.

Vivek Gupta - President and head - of Wholesale Banking Products, said, “ NEO for Business is built to create a distinctive first Transaction Banking platform for MSME’s. It has contemporary UI/UX along with bank-grade security features. With NEO for Business, we will continue to transform the Transaction Banking landscape for MSMEs by creating a strong digital ecosystem to solve all the evolving needs of MSMEs.”

Axis Bank’s NEO for Business platform offers a wide array of Banking and Beyond Banking features such as:

1. Digital self on-boarding

2. Bulk Payments

3. GST Compliant Invoicing

4. Payment Gateway integration

5. 360° Customer View

6. End to End Transaction Tracking

7. Auto Reconciliation

8. Recurring Collections

9. Cash Flow Reports and many more…

With these distinctive features, MSMEs can now enjoy enhanced convenience and productivity, as they can complete their banking transactions ‘on the go’, without visiting a bank branch.