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