ICICI Bank to join Facebook bandwagon

The country’s largest private sector lender ICICI Bank will soon join social media platform Facebook, where it plans to allow its customers to access their bank accounts, among other services.

“... ICICI Bank will soon be present on Facebook. The ICICI Bank page (on the social media website) will include a one-of-its kind ‘Your Bank Account’ app through which you can access your bank account information while on Facebook,” the bank’s Executive Director, Mr Rajiv Sabharwal, said.

In a New Year message to the bank’s customers, Mr Sabharwal said that the customers would also be able to get updates on exclusive offers through Facebook.

The bank is planning to join Facebook as part of its efforts to continue to provide “superior banking services” in 2012, in line with its ‘Khayaal Aapka’ (Your Care) philosophy, he wrote to the customers.

A number of companies in India and abroad are establishing a presence on social media platforms like Facebook to reach out to their customers and get new businesses.

A survey by workplace solutions provider Regus had said that Indian companies increased their usage of social networks like Facebook, blogs, microblogging site Twitter and other online platforms in 2011 to win new business.

As per the survey, 83 per cent companies in India agreed that their marketing strategies might not succeed without social media activity, while 74 per cent companies globally endorsed this view.

Another study by global consultancy major KPMG last month said that businesses in India and other emerging markets are using social media platforms more than their developed market peers for expanding their customer relationships.