Ever wondered about the origins of Slice, the digital-first small finance bank? Its journey began under a different name, a name that holds significant historical and strategic importance.
Before it was Slice, the bank was known as Au Small Finance Bank. This original name is a testament to the bank's roots and its vision for the future.
Understanding the Original Name: Au Small Finance Bank
The name 'Au' is not just a random combination of letters. It stands for 'Affordable and Accessible', two key principles that the bank was founded upon.
At its inception, Au Small Finance Bank aimed to provide affordable financial services and make banking accessible to the masses, especially the unbanked and underbanked populations.
Affordability: The Core Principle
Affordability was the cornerstone of Au Small Finance Bank's operations. It aimed to offer financial services at competitive rates, making them accessible to a wider range of customers.
This focus on affordability was reflected in its product offerings, which included small-ticket loans, affordable deposit products, and low-cost remittance services.
Accessibility: The Key Strategy
Accessibility was the other key aspect of the bank's original name. Au Small Finance Bank sought to reach customers in remote and underserved areas, providing them with the opportunity to participate in the formal banking system.
It achieved this through a network of branches and business correspondents in rural and semi-urban areas, along with digital channels that allowed customers to access services from their mobile phones.
The Transition to Slice: A New Chapter
In 2021, Au Small Finance Bank underwent a rebranding exercise and emerged as Slice. This change marked a new chapter in the bank's journey, reflecting its evolution and growth.
The new name, Slice, was chosen to symbolize the bank's commitment to providing customers with a 'slice' of the modern, digital banking experience, no matter where they are located.
Embracing Digital: The New Focus
With the rebranding, Slice doubled down on its digital efforts. It aimed to leverage technology to provide customers with a seamless, convenient, and secure banking experience.
This focus on digital is evident in Slice's range of digital-first products and services, as well as its investment in digital infrastructure and technology.
Expanding Horizons: The Future of Slice
Despite the change in name, Slice remains committed to the principles of affordability and accessibility that defined Au Small Finance Bank.
Looking ahead, Slice is poised to continue its growth trajectory, expanding its customer base and product offerings, all while staying true to its roots and its mission to make banking accessible to all.
So, the next time you hear about Slice, remember its origins as Au Small Finance Bank. It's a story of growth, evolution, and a commitment to making banking work for everyone.