Kotak Mahindra Bank's 811 service, a zero-balance digital savings account that can only be opened by downloading the bank's app and authenticating oneself with Aadhaar and a one-time-password, had 12 million customers as of 31st December 2017, up from 10.5 million by the end of September 2017. Around 45% of 811 customers, according to the bank, are salaried employees, and 91% are aged between 18-40 years. 63% of them are from the top 20 cities in India. Note that this data is exactly the same as mentioned last quarter, apart from the number of customers, no we can't say if its data which is updated regularly. Kotak Mahindra Bank has also launched a Credit Card on the Go for 811 customers. Other data from Kotak's investor presentation and earnings release: - Mobile transactions were up 120% year on year in Q3FY18. - Mobile banking was up 111% YoY in terms of value, and 120% in terms of volume. - Recurring deposits: sourced digitally during the quarter was 83% of total recurring deposits sourced during the quarter. In Q2, this was 77% - Term Deposits: sourced digital during the quarter was 65% of total term deposits sourced during the quarter. In Q2 this was 60%. - Total payment gateway transactions during the month of December were up 115% in terms of volume YoY, and 64% in terms of value YoY. Last quarter volume of transactions were up 20% up YoY, and the value was up 68%. This just indicates that payment…
