Kotak Mahindra Bank and ICICI are going to offer their banking services on WhatsApp. Kotak Bank claims to be the first banking enterprise to serve the customers on WhatsApp, while ICICI Bank confirms that it is still in the testing phase, checking the compatibility of the messaging platform to engage the customers and offer the best banking solutions. ICICI Bank yet to announce the launch date of the service.
Using the service, the customers will be able to interact with the banks’ on their verified WhatsApp number to avail any banking services such as placing service requests for updating personal details like PAN, e-mail ID, phone number, address, etc. The customers will also be able to request for cancellation of mandates against standing payments, place requests to activate/deactivate the passbook, to switch to the home branch, etc.
At present, ICICI Bank is operating the WhatsApp service within a closed group. The bank has set plans in motion to launch the WhatsApp integrated banking services within four weeks. With the launch, customers will be able to receive the messages from bank as well as archive them.
Customers who hold a digital account under Kotak’s ‘811’ is going to receive their welcome kits on the verified WhatsApp number. Kotak has taken the necessary security measures to ensure the customer’s private information stays safe on the chat. Customers also have the liberty to discontinue the WhatsApp banking services as and when they feel the necessity.
In the expert opinions of IT professionals, using the WhatsApp platform for a two-way communication is going to help the bank grasp a better understanding of their customers.
WhatsApp, at present, is piloting the beta version of its payment application, which is to launch soon, on a global level, in partnership with ICICI Bank, HDFC Bank, and Axis Bank for making payments under the Unified Payments Interface (UPI) platform.