India-based banking group ICICI Bank announced it has crossed a milestone of one million users on its WhatsApp banking platform. The bank reported it introduced banking services on WhatsApp three months ago to enable its retail customers to undertake a slew of banking requirements from their home at a time when they are advised to stay indoors during the COVID-19 pandemic.
“The Bank introduced services like 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 Bank has added several 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.”
Speaking about the milestone, Bijith Bhaskar, Head- Digital Channels & Partnership, ICICI Bank stated:
“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.”
As previously reported, ICICI Bank claims to be India’s largest private sector bank. It offers a range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialized subsidiaries in the areas of investment banking, life and non-life insurance, venture capital, and asset management.
The latest milestone comes less than a month after ICICI Bank launched its end-to-end fully digital facility, Insta Flexicash. According to ICICI Bank, the facility enables the bank’s Salary Account customers to get approval for overdraft instantaneously and in a paperless manner.