Best for HNW in India 2022
IDFC First Bank
Members of the private banking team at IDFC First Bank wear their technology on their sleeves. It’s apparent from the way senior management rarely miss a chance to explain how IDFC First is a neo-age bank with an absolute focus on digital banking offerings.
There’s even a vision statement: Ethical, Digital and Social Good. The idea is that ethical banking is at the core of everything IDFC First does. Digital is how they run a business they believe contributes to the larger social good.
The vision is working, at least from a financial success standpoint. Namita Arya, customer experience lead for wealth management and private banking, goes as far as saying the bank is expanding at a “stupendous rate”: Over the last year, assets under management surged a record 126%.
IDFC First also boasts a transparent fee structure. Unlike most of its peers in India and elsewhere, the bank doesn’t levy non-home branch charges, SMS update fees, immediate payment service fees or annual card fees to name a few.