Friday, 25 January 2008

Mobile Banking Redefined?

ICICI Bank has launched iMobile, a unique mobile banking platform on mobile phoneswherein customers can now transfer funds to ICICI and Non ICICI Bank accounts on their mobile. The application covers Savings bank, Demat, Credit Card and Loan accounts. Customers can also pay their utility bills and insurance premium through this facility.

This is in line with a spate of mobile applications being launched by service organisations in the banking, insurance and travel segments ( eg. AIG, yatra, PVR). These applications are being designed to work on both SMS and GPRS to tap into the 200 million + mobile subscribers in India.

As everyone in the Industry is going overboard with the large numbers and the tremendous opportunities therein, what clearly waits to be seen is how well the Indian mobile audience will adopt all these services and features.

We are slated to see several new mobile application launches in the coming months in 2008 in this space!

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