ICICI Bank to add Facebook as Transaction Platform

Hyderabad, September 5: ICICI Bank will soon add another online platform for dispensing its banking transaction services — Facebook. The country’s largest private sector lender was the first bank in India to use the social media site to provide services such as account enquiry and request for cheque.  Now it is preparing to take this initiative one step forward by offering transaction services, such as deposit or transfer of money, to its Facebook customers. This is part of its efforts to provide next-gen banking solutions, in line with its ‘Khayaal Aapka’ (your care) philosophy.
Next-Gen solutions: It has recently added tablet banking and e-locker services to its range of technology products such as Internet and mobile banking. E-Locker is a virtual online locker, which can be used to safely store electronically scanned copies of important documents in various formats. Mukesh Kumar Jain, the bank’s Chief Technology Officer, said the bank was working on this technology and indicated that it could come out with this new service in the next few months.
Social media channels will, in the near future, form an important platform for banking services, he told media-persons here today. He was in the city to launch the bank’s electronic branch, Tab Banking and E-Locker services, as part of the bank’s nation-wide rollout of next-gen banking solutions.
Security issues: In response to a question, Jain said security was not a challenge in offering transaction services through the social media platform. He said this platform will not only make it easier for customers to make use of bank services but will also help the bank expand its customer base.
Jain said although mobile banking customers formed a small group today, two-thirds of the bank’s transactions were being done through ATMs and the Internet. He said the ICICI Bank page on Facebook already has seven lakh fans. A recent study by global consultancy major KPMG had revealed that businesses in India and other emerging markets are using social media platforms more than their developed market peers to expand customer relationships.

ICICI Bank launches 25 e-branches

Mumbai, August 23: Private sector lender ICICI Bank announced the launch of 25 electronic branches and other technology-based banking solutions here on Thursday. The 24x7 electronic branching facilities will offer cash and cheque deposit machines with instant credit, interactive kiosks with phone and internet banking services and video conferencing among others. The investment and cost-benefit-accruals relating to the initiative were not disclosed.
Other initiatives include ‘tab banking’ that allows opening an account on a tablet without visiting the bank branch and e-locker facility that helps customers to electronically save scanned copies of their important documents and other value-added services at the ATMs. Charges on the e-locker services will be decided on the basis of the usage of the customers.
At present, the 25 branches have been rolled out across 18 locations including metros and Tier II cities. “About a third of our customers are using Internet banking services....These services will be complimentary to our physical branches,” said MD and CEO, Chanda Kochhar, ICICI Bank. “Today, handheld devices like mobile phones and tablet segment is growing at over 100 per cent every year as compared to the 20 per cent growth in desktops. We want to expand our technology beyond ATMs and desktop devices,” Kochhar said.

More SBI branches in Hyderabad

State Bank of India has launched two new branches in the city. The Chief General Manager of the Hyderabad Circe Rakesh Sharma inaugurated the branches. The branches are located at Liberty centre in Himayathnagar and D.D. Colony at Amberpet.  Speaking at the launch events, Rakesh Sharma said the two branches were equipped to cater to the personal banking and needs of NRI customers. They will have ATM, Internet and mobile banking services to suit individual customers. The branches will provide full-fledged services, including locker facility.

More SBI branches in Hyderabad

Bizarre banking system leaves customers stumped

Patna, August 5: Bank allots customer’s locker to another person without notice. Bizarre banking system has come to the fore in two diametrically opposite cases in Bihar. In the first instance, a woman customer was left high and dry when her valuables went kaput after the locker she was operating in Allahabad Bank was allotted to someone else without intimating her. While in another case, three customers on a single day received more than the amount they had asked for, during withdrawal from the ATM of State Bank of India.

 

The first incident took place in the state capital when Rani Meena Kumari of Shastri Nagar went to operate her locker in Allahabad Bank which she had opened it in 2008. Much to her dismay, Meena found that not only her locker was allotted to a different customer, but her valuables worth Rs 4 lakh were also missing. On query, she was told that since the locker was not operated for the last two years, it was allotted to some one else. A furious Meena lodged an FIR against the bank officials at Shastri Nagar police station and wondered how this kind of faux pas could happen in a government-controlled bank. “We have received a written complaint from Meena Kumari. The regional office of the bank is looking into the case. If required, we too will begin investigation in right earnest,” said SHO of the police station, IC Vidyasagar.

 

In another instance, a customer of SBI went to an ATM at Pali market in Darbhanga and opted to withdraw Rs 3,000. But lo and behold, the machine handed him Rs 7,000, although the statement slip showed withdrawal of Rs 3,000 only. With Rs 4,000 more in his kitty, the customer laughed all his way to home. The other customer, who followed him in the queue, met a similar fate when he received Rs 5,000 from the ATM although he had asked for Rs 4,200.

 

The guard, who operated generator there, smelt a rat when he found the customer smiling sheepishly. On query, he was told about the ATM machine doling out excess amount, even though the statement mentioned only the withdrawal of money which was originally asked for. The guard then asked the customer to return the excess amount, and eventually informed the bank’s branch manager. When the officials reached the venue, they found the ATM working in a weird manner. The ATM was sealed and headquarters office informed about the snag. “Three instances of excess withdrawal have been detected. Out of which one customer has refunded the excess amount. The exact detail of net loss is being ascertained,” said a senior SBI official on the condition of anonymity.