ICICI Bank, one of the “Big Four” banks of India introduced banking services on WhatsApp just three months ago; the idea was to enable its retail customers to do their banking from home via WhatsApp; it has been hugely popular with more than one million customers signing up in the first three months; customers can check their savings account balance, get their last three transactions, see their credit card limit, get details of pre-approved instant loan offers and block/unblock credit and debit cards in a secure manner with end-to-end encryption for all messages; the bank continues to introduce new services in the WhatsApp platform and aims to double the number of users in the next three months; Bijith Bhaskar, Head of Digital Channels & Partnerships 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”. Finextra.
