Kotak Bank, ICICI to offer banking on WhatsApp

MUMBAI: Kotak Bank has said that it's going to be the first to pilot WhatsApp’s enterprise strategy to customers. ICICI Bank, too, has said that it is testing the messaging platform’s enterprise strategy to interact with customers, however has no longer yet announced a release date.

Unlike text messages which are one-way verbal exchange from the financial institution, customers can interact with Kotak Bank on its verified WhatsApp quantity for information on service requests such as updating PAN, cellular quantity, e-mail ID, Aadhaar quantity, activating/deactivating passbook, cancelling mandates for status bills and converting their home department.

ICICI Bank is currently piloting WhatsApp inside of a closed user team and plans to release the service for patrons inside of four weeks. Soon, customers will find a way to obtain their signals inside of WhatsApp, which can then be archived.


Online movie ticketing web page BookMyShow has been one of the most early adopters of WhatsApp’s enterprise platform. Kotak Mahindra Bank chief virtual officer Deepak Sharma said, “The familiarity and ease of the platform makes it easy for patrons to interact with their financial institution and get solutions to queries in a unbroken and convenient means.”


Kotak’s ‘811’ virtual account customers can obtain their welcome kits at the verified WhatsApp quantity. However, as a measure of safety, Kotak will not expose personal or sensitive data on chat. Customers can discontinue verbal exchange on WhatsApp at any level of time. According to IT experts, using WhatsApp for two-way verbal exchange also advantages the financial institution as analysis of the chats will provide the lenders with higher insights into their customers.


Banks are using WhatsApp at a time when the Facebook-owned corporate itself is entering the bills industry. WhatsApp is operating the beta version of its bills utility and will quickly release it nationally in partnership with HDFC Bank, ICICI Bank and Axis Bank for processing bills under the Unified Payments Interface (UPI) platform.


Kotak Bank, ICICI to offer banking on WhatsApp Kotak Bank, ICICI to offer banking on WhatsApp Reviewed by Kailash on June 06, 2018 Rating: 5
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