/retail banking

News and resources on retail banking, consumer finance and reinventing customer experience in finance.
Icici Bank rolls out WhatsApp banking service

Icici Bank rolls out WhatsApp banking service

India's Icici Bank has launched banking services on the popular messaging app WhatsApp, enabling customers to undertake a slew of financial transactions during the national lockdown.

Retail customers can check their savings account balance, last three transactions, credit card limit, get details of pre-approved instant loan offers and block/unblock credit and debit cards. Additionally, they can also get details of the nearest three Icici Bank ATMs and branches in their vicinity.

Anup Bagchi, executive director, Icici, states: "Our retail customers can execute a host of their banking requirements on their own, without visiting a branch. The services are instantaneous and secure. With the growing prominence of social media in every-day life, we believe that this would add immense convenience to our customers, as it allows them to bank while they are on social media.”

The move follows the recent launch of IciciStack, a digital banking platform offering nearly 500 services covering the full gamut of banking requirement for personal and business customers. The platform incorporates digital onboarding and features a full suite of APIs and digital banking services covering accounts, payments, loans, investments and insurance.

Comments: (1)

A Finextra member
A Finextra member 30 March, 2020, 15:51Be the first to give this comment the thumbs up 0 likes

This is very interesting! I would like to know more on how this is possible? 

How is WhatsApp being used by the consumer?