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 helped drive the total number of accounts at the bank to 13 million as of 31st March 2018, up from 12 million by the end of the previous quarter. Around 44% of 811 customers, according to the bank, are salaried employees, and 90% are aged between 18-40 years. 65% of them are from the top 20 cities in India. Kotak Mahindra Bank also offers free credit score check for 811 customers. Other data from Kotak's investor presentation and earnings release: - Mobile banking was up 76% YoY in terms of value, and 114% in terms of volume. - 88% of all recurring deposits were sourced digitally during the quarter. In Q3, this number was 83% - 69% of all fixed deposits were sourced digitally during the quarter. In Q3 this number was 65%. - Total payment gateway transactions during the month of March were up 76% in terms of value YoY. Last quarter the value was up 64%. - Mstore transactions were up 402% YoY in terms of volume at the end of this quarter (March 2018). - Digital share of salaried personal loans: 32% in Q4FY18. In Q3, this number also stood at 29%. - Personal loans through digital were up 168% year on year in Q4. This was 192% last quarter. - Mobile banking login is more than 5…
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