Axis Bank, India’s third largest Private Sector Bank, announced the rollout of an augmented reality enabled feature on its Mobile App that empowers home seekers to search and locate properties which are pre-approved by the bank for financing. The feature, powered by India’s no1 property site Magicbricks.com, offers home seekers options to choose from over 10,000 bank-approved properties, including new, resale and under construction projects across India.

Incorporated in the pre-login section of the Axis Bank Mobile App, the feature can be accessed by any individual who downloads the App. Augmented Reality technology enables users to search and locate nearby properties on the go, in a 360 degree mode, through their mobile camera.  In addition to the search function, home seekers can also connect with the sellers / builders, check their eligibility and also apply for a home loan.

Speaking on the occasion, Mr. Jagdeep Mallareddy, Head Retail Lending, Axis Bank, said, “The new AR feature will help users to easily identify any property that is available in their preferred locality and apply for the home loan. We are confident that this innovative technology in Banking will be highly accepted by a large customer base. This initiative is yet another step towards offering world best services by enhancing the customer experience.”
 
Speaking on the occasion, Mr. Sudhir Pai, CEO – Magicbricks.com, said: “Magicbricks.com is always at the forefront of technology & better consumer experience to make home buying experience a cherished one. Our collaboration with Axis Bank imparts a new dimension to service integration to help our loyal customers receive the best service on one platform. This novel integration will make applying for loans to buy one’s dream home a swift and hassle-free experience, setting new milestones in both the real estate and banking industries”. The new feature will be now available on Android and iOS platforms.
 
About Axis Bank:

Axis Bank is the third largest private sector bank in India. Axis Bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.

With its 3,106 domestic branches (including extension counters) and 13,448 ATMs across the country, as on 30th September 2016, the network of Axis Bank spreads across 1,920 cities and towns, enabling the Bank to reach out to a large cross-section of customers with an array of products and services. The Bank also has nine overseas offices with branches at Singapore, Hong Kong, Dubai (at the DIFC), Shanghai and Colombo; representative offices at Dubai, Abu Dhabi and Dhaka and an overseas subsidiary at London, UK. The Bank’s website www.axisbank.com offers comprehensive details about its products and services.