ICICI Bank surpasses 1 million users on its WhatsApp banking platform

Private lender ICICI Bank has crossed the milestone of 1 million users on its WhatsApp banking platform. Three months ago the lender introduced its banking services on WhatsApp to help its retail customers in undertaking a series of banking requirements from their home without having to step out during Covid-19 outbreak.

ICICI Bank

The bank reported encouraging responses from its customers in just within three months of the launch of the service.

The bank introduced several services such as checking of savings account balance, last three transactions, credit card limit, get details of pre-approved instant loan offers and block/unblock credit & debit card in a secure manner with end-to-end encryption for all messages. Recently, the lender also added new features like opening instant savings account in a few minutes, access to pdf for our partnered newspapers/magazines, locating nearby essential stores and opting for loan moratorium to this service. The Bank has also introduced this service to its NRI customers.

Also Read: ICICI Bank likely to opt for fund raising in the upcoming board meeting

Services like checking account balance, last three transactions, applying for loan moratorium and revising credit card limit have seen the maximum usage.

Bijith Bhaskar, Head- Digital Channels & Partnership, ICICI Bank said, “With the growing prominence of social media in every-day life, we believe that WhatsApp banking has offered immense convenience to our customers as it allows them to bank while they are on WhatsApp. Customers can access a host of their banking requirements on their own, without visiting a branch. Over a million of users have adopted the service in a short span of three months. We have mostly seen that millennials across the country are using WhatsApp for their banking needs. With the encouraging response, we aim to double the number of users in next three months to 2 million.”

The Banking & Finance Post is an initiative of Elets Technomedia Pvt Ltd, existing since 2003.
Now, Elets' YouTube channel, a treasure of premier innovation-oriented knowledge-conferences and awards, is also active. To Subscribe Free, Click Here.

Get a chance to meet the Who's who of the BFSI industry. Join Us for Elets National CIO Virtual Conclave and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.