As many as nine Indian banks have been recognised as ‘Digital Champions’ among 40 banks globally, according to the Deloitte Global Digital Banking Maturity (DBM) survey released in April. India’s DBM Index rose from 43 per cent in 2022 to 59 per cent — a 16-percentage-point gain. Indian banks saw significant growth in day-to-day banking (+9.8 pp) and expanding relationships (+3.4 pp).

This reflects Indian banks’ advancing digital maturity, with emphasis on bespoke advisory, AI integration, and beyond-banking services. India, now in its second year of participation, stands alongside global leaders like the US, China, Brazil, and the EU. This year’s DBM survey evaluated 349 banks across 44 markets on six continents.

Indian Digital Champions outperformed global peers in key customer journey steps, with India’s DBM Index exceeding the global average by 20 pp. There remains room for improvement in areas such as personal finance management, conversational solutions, and product cross-selling.

Deloitte India’s Himanish Chaudhuri said Indian banks are now ahead of the global average in digital banking capabilities and are well-placed to realise India’s vision for a ‘Viksit Bharat’.