Banking on Facebook? Now, ICICI Bank allows that too

Banking on Facebook? Now, ICICI Bank allows that too

Author | Priyanka Nair | Wednesday, Sep 25,2013 7:52 AM

Banking on Facebook? Now, ICICI Bank allows that too

The banking sector is increasingly going social to widen its offering to customers. One such latest digital initiative has been launched by ICICI Bank, called Pockets. Pockets by ICICI Bank is an app that enables the Bank’s customers to carry out a slew of banking services on social media site Facebook.

This new app is a natural progression of the ‘Your Bank’ Facebook app that the Bank had introduced last year, enabling its customers to view their savings account details and statements while on Facebook, as well as to order a cheque book and upgrade debit card. Pockets by ICICI Bank is considered to be first-of-its kind app on Facebook across the globe. There will be no additional charge for using the application.

Commenting on launch of the application, Chanda Kochhar, Managing Director and Chief Executive Officer, ICICI Bank said, “The Bank has always been at the forefront of technological innovation in banking. With the launch of Pockets by ICICI Bank, we bring the most comprehensive banking app on Facebook globally. This innovation is in line with our philosophy of ‘Khayaal Aapka’, wherein we offer products and services that make banking easier and more convenient for our customers. Pockets by ICICI Bank will enable the young consumers, who spend a lot of time on Facebook, to carry out a wide set of transactions without having to leave the social media site.”

Kochar further said that the Bank has come up with this service application keeping in mind two factors – namely, convenience and choice of costumers. She also mentioned that around 30 per cent of the transactions at ICICI Bank take place through the internet.

She also pointed out that one-third of the Bank’s customers are under the age of 30 years.

The app has features such as ‘Split ‘n’ Share’ and ‘Pay a friend’. The ‘Split ‘n’ Share’ feature allows customers to split and track group expenses and share them with friends on Facebook. The app also gives the customer the option of sending messages to remind friends on pending payments.

With ‘Pay a friend’, customers will be able to transfer funds to their friends without knowing their bank account details such as account number, bank branch, branch IFSC code, etc. Through this facility, customers can create electronic coupons that can be redeemed by their friends on the Bank’s website.

In addition to this, Pockets by ICICI Bank will let customers recharge their prepaid mobile or book movie tickets instantly from Facebook itself.

A customer can also carry out a wide range of non-financial transactions through this app. The list includes viewing a summary as well as a mini statement of savings bank account, knowing credit card details and getting demat holding statements. Through this app, a customer can open fixed or recurring deposit, order a cheque book, stop a cheque payment and upgrade debit card.

ICICI Bank will be promoting this app mainly through digital media. The Bank has already uploaded a few videos on its official YouTube channel, which explain each feature of the app to users.

View the video here…

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