Friday, August 24, 2012

Now, Internet to rule at ICICI Bank

The country's third largest lender by assets, ICICI Bank today said Internet-based transactions have grown to constitute a third of its total and the segment may grow to become the largest channel in future.

"More than one third of our transactions take place through Internet, making it the second most used medium. With the increase in Internet usage, it may also grow to occupy the number one position," the bank's chief executive and managing director Chanda Kochhar told.

She said handheld devices like mobile phones and tablets segment, which is growing at over 100 percent every year as compared to the 20 percent growth in desktops, will help drive this growth.

The bank, the country's largest private sector lender, today launched a slew of products like an electronic branch which will do all the operations of a branch across the clock, tablet-based banking which will fasten account opening, a better point of sale terminal which can conduct a host of transactions and an e-locker for storing important documents.

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