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Tuesday, December 16, 2014

HDFC Bank launches branch banking on mobile

HDFC Bank launched its mobile banking facility that offers to turn a mobile phone into a bank branch.

“With over 75 transactions -- all a touch away - ‘Bank Aap Ki Muththi Mein’ offers the customer the widest range of transactions conceivable. These are both financial and non-financial transactions that he needs in his daily life for which he would have to visit a branch, or an ATM,” HDFC Bank said in a statement.

Besides essential transactions such as booking fixed- and recurring deposits, bill and tax payments, buying insurance and mutual funds, the offering will also allow customers-- for the first time in the country-- to buy instantly all kind of loans. It also offers them fully customized, location-specific promotions, offers/deals on shopping, dining, movies and entertainment.

SMS and missed-call banking

The offering is technology agnostic and runs on both smart phone and basic phone that supports internet browsing. For phones that do not support internet browsing, there's sms-banking and missed-call banking. All that a customer needs to do is send a text to or call a toll free number to know his account balance, get a mini statement, request a check book or detailed account statement, the bank said.

As of September 2014, India had over 900 million mobile users in the country but only 40 million mobile banking customers. Today, 55 per cent of all transactions at HDFC Bank are conducted through digital channels.

Source : Thehindubusinessline


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