India’s largest private sector lender, ICICI
Bank, has launched a new version of its mobile banking app –
iMobile – offering simplified financial as well as non-financial

The financial services offered by the revamped
iMobile app include fund transfers, balance enquiry, viewing the
last five transactions, opening fixed deposits/recurring deposits,
and more. The non-financial services on offer are buying movie and
airline tickets, prepaid mobile recharges, locating an ICICI bank
branch or ATM, among others.

The iMobile app – launched in January 2008 –
has been “doubling” its user base every year since, according to
Rajiv Sabharwal, executive director, ICICI Bank.

The most popular services, reportedly, are
fund transfers, prepaid mobile recharge, bill payments and movie
ticket booking.

“Customers are slowly but surely adopting this
new channel and we are noticing a healthy growth in our
month-on-month transactions carried out through mobile banking.
Also, mobile users in the country have increased more than the
internet penetration, which offers a huge opportunity.

“Understanding the diverse needs of the
customers and providing them a comprehensive range of services
helps us deepen our relationship with the customer, increases
engagement and makes us their preferred bank,” said Sabharwal.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

While the iMobile services are free for
customers, a transaction fee is levied for merchants,
Sabharwal informed.

ICICI has also launched an iMobile advertising
campaign – running across television, print, radio and digital
media. The lender is also using its network of over 9,000 ATMs and
approximately 3,000 branches to familiarise customers with iMobile,
according to Sabharwal.