ICICI Bank strengthens its e-banking services; introduces e-branches and tab banking
By Neelima Shankar
Aug 24, 2012
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Leading private sector bank, ICICI Bank announced that nearly one-third of its business transactions happen over the internet. The bank also said that in coming time ebanking might become the most preferred transaction channel in some time.

"More than one third of our transactions take place through Internet, making it the second most used medium. With the increase in Internet usage, it may also grow to occupy the number one position," said Ms. Chanda Kochhar.

Growth in internet banking is fuelled by mobile devices, the segment which has seen annual growth of 100 percent compared with 20 percent growth in desktops. The bank also took opportunity to strengthen its existing services by launching innovative products like tablet based banking, e-locker for storing vital documents, an improved point of sales terminal (POS).

Bank also launched e-branch, which would work 24x7 and provide services like cheque deposit, cash deposit and an interactive kiosk which would provide video-conferencing services with customer care.

Bank has opened 25 such branches were in 18 locations in tier I and tier II cities. While e-locker was launched as a pilot project providing service to 1,000 customers. The bank also installed 2,000 computer tablets across eight cities to initiate 'tab banking'.

"Customers are seeking enhanced convenience and time has also become of essence. We have studied customer requirements and launched the products which will help customers," she concluded

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