For local private lender Axis Bank, the merger of Citi’s consumer sector represented a significant challenge because it required the integration of almost 3,200 workers into the bank, which already had more than 88,000 employees.

In-depth details about The application that played a key role in the Axis-Citi deal

Axis Bank acquired Citibank India’s consumer business, including loans, credit cards, wealth management, and retail banking, for Rs 11,603 crores on March 1, 2023. This was a significant achievement because it put the third-largest private sector bank in the nation in a strong position for accelerated growth in the premium segment.

But given the customary cultural disparities between a domestic and foreign company, the integration was in fact a difficult assignment for the bank’s human resources division.

In addition, the Axis Bank HR team relied heavily on technology to make sure that the onboarding of Citi employees—roughly 97% of the Citi consumer business staffers joined—was as smooth as possible.

The software that was specifically created for the integration and onboarding process and required less documentation was the highlight.

Rajkamal Vempati, Head – Human Resources, Axis Bank, stated that “paper was hardly ever used during the entire onboarding process and that I think set the tone for Citi staffers as they were used to seeing physical papers, files, etc.”

Vempati, who has worked for the bank for more than seven years, explained that while the app was only intended for the onboarding process, it had several FAQs and features that allowed users to submit a question that could result in a callback, among other things.

The integration for Vempati’s team plainly meant longer than usual working hours for more than a few weeks. “That was how the entire onboarding process was managed for Citi and it was not only digital but also completely frictionless,” Vempati added.

“In any integration, we must acknowledge that managing our own people is just as important as welcoming the other. It’s not like the roles are set in stone already. They could therefore see the intent and the acts because the entire process was collaborative, she explained.

This is significant for a bank that began operations in 1994 and was supported by government-owned organisations like the General Insurance Corporation, The New India Assurance Company, The United India Insurance Company, and the former UTI.

While the process of integrating the Citi employees is ongoing and involves town hall meetings, one-on-one interactions, and even a “buddy” system where Axis Bank employees who had previously worked for Citi helped the new group integrate, the domestic lender has made sure that its HR practises are up to date with current trends and free of any form of bias.

According to Vempati, “I think the secret sauce for us is that people have been able to settle down, assimilate, and just adapt,” adding that everyone has been “extremely, extremely supportive and helpful.”

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