ICICI facilitates banking through Twitter

Private sector bank ICICI has launched a service which will allow its account-holders to transfer funds through Twitter, apart from getting a recharge on their prepaid mobile accounts they can also check their bank balances.

“This constitutes of all the mandatory requirements of two-factor authentication,” executive director Rajiv Sabharwal said.

He also said that with the growing importance of social media in people’s daily life, ICICI believes that their customers would be thrilled to have yet another route which will allow them to bank while they are on surfing through social media.

To get this service users just have to subscribe or follow the bank’s Twitter page @ICICIBank and then register for it. For registration, users will need to send a direct message (DM) in a set format consisting of “#reg”. After this, the account holders will be verified and will be provided with a one-time password (OTP) on their registered mobile number, which again will have to be sent as a DM from their Twitter account to the bank’s Twitter account in the format “#regotp”.

ICICI has claimed that it is the first in Asia and second in the world to provide a Twitter-based fund transfer facility. About a year ago it had also launched a service to transfer funds through Facebook and according to the bank executive director it has now 30,000+ active Facebook users.

Bank Executive Director Rajiv Sabharwal claimed that the bank has been serving the largest number of youth customers in the country and so the bank launched the new service in retrospection. He added that he has a team of 100 people are working on this.

According to another statement from the bank, the launch pinnacles another technology leading to innovative services introduced by the bank. ICICI Bank has branches in 18 countries and has been reported to consolidate a total assets of $124.76 billion in the last financial year

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